Even though his basketball days are behind him, Michael Jordan still brings serious cash with an estimated net worth of $1.5 billion. That’s a lot of money to spend, and for the most part, many of his major purchases have turned into large investments that gave him even more money.
In 2010 Jordan bought the Charlotte Hornets for $ 175 million, according to Forbes. Fast forward to 2020, and the team is valued at $ 1.5 billion. In 2019, Jordan spoke to The Charlotte Watcher about hosting the NBA All-Star Weekend weekend in the state where he played college.
“The opportunity to represent North Carolina in an All-Star Game from a different seat is truly amazing. Count the path I have taken. I am very happy to give that back to the community,” he said. “It has been a very long road.”
Organizing that event was a big problem for the Hornets organization, but Jordan has an even bigger goal in mind. “I’m always dreaming about that seventh ring,” said ESPN. “And getting to that would be so much more rewarding” than the six he won when he played in the league. He also admitted that owning instead of gambling “is not so much fun, but it is much more difficult.”
The Hornets are the only sports organization Jordan has bought. In 2018 NBC Sports Chicago reported that MJ lost $5 million to have a stake in the Miami Marlins, along with baseball legend Derek Jeter, the organization’s CEO.
Michael Jordan diversified its investments
Michael Jordan’s diverse range of investments includes a restaurant chain called Michael Jordan’s Steakhouse, located in Illinois, Connecticut, and Washington. The restaurant offers Jordan-themed menu items, including a 23-layer chocolate cake honoring Jordan’s jersey number.
The Oak Brook, Illinois location even offered a takeaway special in 2020 to honor the Chicago Bulls documentary The Last Dance. In addition to food, the first 23 people who ordered received a limited edition of The Last Dance poster.
“Anytime ‘MJ’ is in Chicago, he’s in the restaurant,” said executive chef Craig Couper Forbes. “He really loves coming in.”
Jordan steakhouse is not the only business in which it has a stake. He also teamed up with New York Giants alumnus Tucker Frederickson, golfer Ernie Els, and a few other investors to endorse 1000 NORTH, a restaurant/lounge located on the water in glamorous Jupiter, Florida.
MJ also owns Michael Jordan Nissan in Durham, North Carolina, which reportedly offers “Team 23 for Life” benefits not available at other dealerships.
Michael Jordan’s real estate choices include wins and losses
With business investments across the country, it stands to reason that Michael Jordan also owns multiple homes. In 2012, Yahoo Sports confirmed that it purchased a $ 12.4 million mansion in Jupiter, Florida. That house has 11 rooms, a house with a pool, and a basketball court, obviously. It also has a special ventilation system to eliminate cigarette smoke.
In 2013, the NBA legend bought a $ 2.8 million home in Charlotte, NC, according to AOL. That price tag was apparently a “bargain,” since the house was originally listed at $ 3.49 million. The oceanfront residence has eight rooms and is located on a golf course. Jordan also occupies the entire seventh floor of a luxury condo building in Charlotte, according to The Charlotte Observer.
If you want to be like Mike, you can buy one of his properties for the right price. In October 2019, Forbes reported that Jordan had listed his home in Park City, Utah, for $7.5 million. The Chicago mansion of the Chicago Bulls legend has been on the market since 2012, according to Business Insider.
The house was originally listed for $29 million but gradually dropped to just $14,855,000, those numbers add up to 23. Perhaps invoking the number on Jordan’s shirt will be a lucky charm to finally unload this mansion. He reportedly pays more than $ 100,000 in property taxes annually and pays the staff just to maintain the home.
Michael Jordan travels in style by air, land and sea
Even though Michael Jordan has invested a lot of money in his homes and businesses, His Airness still has a lot of cheddar to spend traveling from one luxurious place to another.
According to The Washington Post, the basketball icon had his private jet painted to represent a Jordan shoe in 2017, which was probably not cheap. If he wants to change his mode of transportation, Jordan can board his $80 million yacht. In 2019 TMZ reported that it cost “$ 840,000 per week” just to “rent the 230-foot floating mansion.”
When ashore, Jordan has a variety of transportation options. According to Car and Driver, MJ’s garage includes a Chevrolet Corvette, a Ferrari 550 Maranello, a Porsche, a Land Rover, and other attractions. Jordan even has sleek golf course wheels: “Carolina’s custom blue Air Jordan ‘Jumpman’ golf cart” with monogrammed seats, “according to the US. Today.