Basketball players are often among the world’s richest sportspeople due to their renown throughout the United States and beyond. However, one basketball player is known for their extreme wealth.
That is Michael Jordan, not least because he is one of the most famous and popular American basketball players ever to have played the sport. To find out more about how he utilized his betting empire to sustain his wealth for decades, read on.
How much is Michael Jordan worth?
Michael Jordan became a billionaire in 2014 and is now worth $2.4 billion. However, this was not always the case, and he only made around $100 million throughout his professional basketball career.
Even so, compared to the world’s other richest athletes, he still ranks extremely highly, with Floyd Mayweather worth $400,000,000, with only $19,000,000 of that being made throughout his sporting career.
To find out more about how Michael Jordan compares to other famous sports personalities, Cash Lady has compiled a comprehensive list of the world’s richest sports league professionals and how their finances compare in terms of both net worth and career earnings.
How has Michael Jordan made his money?
As mentioned above, Michael Jordan did not make the majority of his earnings through professional sport, even though this is what he is known for most. Instead, a great part of his net worth was made through the right investments.
For instance, Michael Jordan owns the Charlotte Hornets, which was bought in 2010 and has risen in value since his purchase. He has also made multiple profitable deals with Nike, including his own footwear model, which has received a lot of celebrity endorsement throughout its time on the shelves. This has allowed it to stay popular for a much longer time than other footwear styles.
How has Michael Jordan created a betting empire?
However, his most recent investment, and the one that has maintained his status as a billionaire, is his interest in sports betting companies. Although Jordan was once known for betting and gambling himself, now, his role will allow him to maintain his billionaire status through opting to participate in the growth of an up-and-coming betting company.
By taking an equity stake, the size of which is unknown, and an advisory role in the betting company DraftKings, he has been able to use his sporting experience effectively. By taking on a leadership role, he will have a say in the company’s actions, from the betting services that they offer to the way they are run.
As soon as he did so, shares in the company rose by 12%, CNN states as more attention was given to the up-and-coming company, and profits for the business are expected to rise as the demand for this growing industry increases.
Through his stakes in Draft Kings, Jordan has now started to create a betting empire that will dominate fantasy and sports gambling online for years to come, especially as the industry begins to increase in popularity as people start to look for digital ways to bet on their favorite team.