Michael Jordan Makes History On The List Of 400 Richest People In The US, Former Partner: He's Like Sponsors

Michael Jordan. (Wikimedia Commons/Zach Catanzareti Photo)

JAKARTA - Former professional basketball player and businessman Michael Jordan made history by entering the ranks of the 400 richest people in the United States according to Forbes.

The United States NBA (National Basketball Association) legend sits at 379 with a total net worth of around US$3 billion or equivalent to Rp47 trillion, after selling the majority of his shares at basketball club Charlotte Hornets earlier this year, quoted from CNN October 7.

Playing in the NBA Competition for 15 seasons, Jordan made a series of achievements, both with his Chicago Bulls team and as individuals. Noted, he led the Bulls to win six NBA titles (1991, 1992, 1993, 1996, 1997, 1998) as well as six times out as the best player (MVP) in the final throughout the year.

He was also recorded five times as the best player (MVP) of the NBA (1988, 1991, 1992, 1996, 1998), and two times as champion of the Slam Dunk (1987 and 1988) contest. Meanwhile, with the United States national team, he won two Olympic gold medals, namely Los Angeles (1984) and Barcelona (1992).

Considered by many as the greatest basketball player of all time, he retired for the last time in 2003 after two seasons with Washington Wizards.

He earned billionaire status in 2015, partly through a deal with Nike. He also has a lucrative contract with Hanes, jurisprudence and Upper Deck.

Nike isn't the only company trying to take advantage of Jordan's talent and charisma.

"He was a brand before people talked about humans as brands," said Marc Ganis, president of consulting firm Sportscorp, as quoted by Forbes.

"It wasn't Michael Jordan who promoted the tanade, but thetenade that said, 'Drink the parade to become more like Michael," he continued.

After buying Hornets for about $275 million in 2010, Jordan sold his majority holdings in June to a group led by Gabe Plotkin and Rick Schnall, bringing him on the Forbes 400 list, but still retaining a minority stake in the team.

"He's like a sponge," said Ted Leonsis, who has partnered with Jordan in various investments and sporting holdings in the past, considering Jordan was very curious and asked many questions, ranging from selling sponsorship to advertising and sharing knowledge about the sports business.

"In the end, he's more correct than me, that is, if you have a great team and have star players, it will be easy to sell tickets, suites and sponsors," said the owner of Washington Wizards, Mystics and Capitals.

Jordan became famous for his philanthropics, by making a donation of 10 million US dollars which broke the record for Make-A-Wish America while celebrating his 60th birthday, the largest individual prize in 43 years of foundation's history.

"Michael is one of the few people to achieve three successes," Leonsis said

"Many entrepreneurs, they were successful once. They won a big win, took their win, retired and (we) never heard from them again, or they tried something for the second time and didn't work. He (Jordan) won three great successes,: Leonsis explained, referring to Jordan's influence as a player, owner, and the growth of the Air Jordan brand in Nike.

Tesla and SpaceX CEO Elon Musk, estimated to have a fortune of US$251 billion, is at the top of the latest Forbes 400 list, ahead of Amazon founder Jeff Bezos, who is estimated to have a fortune of US$161 billion.

Forbes estimates that the 400 richest Americans now have a collective fortune of US$4.5 trillion, equivalent to a record set in 2021 and slightly higher than Japan's GDP in 2022 ($4.23 trillion), according to the World Bank.