Billionaire Michael Jordan once beat the entire NBA by $4 billion in terms of contribution to the US economy

The NBA has never seen a fiercer competitor and impactful influencer than Michael Jordan. The Chicago Ghost was the first NBA personality to achieve billionaire status. Jordan played at a time when NBA athletes didn’t have a high salary, and most of his money came from sponsorship deals. The six-time NBA champion was an immediate sensation when he entered the league with the Chicago Bulls in 1984. However, the Michael Jordan era didn’t begin until the 1990s. No one could touch Jordan on or off the court in terms of competitiveness and skills to earn money.

The NBA was in a difficult situation in the late 1970s. The league would have gone bankrupt if the rivalry between Magic Johnson and Larry Bird hadn’t taken place. The epic competition between the Los Angeles Lakers and the Boston Celtics brought the league back.

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However, the NBA did not become the best basketball league in the world before the arrival of Michael Jordan. The 14-time All-Star was the face of the league in the 1990s, helping the league gain worldwide popularity.

Jordan’s widespread recognition paved the way for sponsorship deals with Nike. His presence has led to a huge increase in television ratings, ticket sales, and an increase in sales of NBA accessories such as jerseys, jerseys, and caps.

A 1998 report by Fortune Magazine showed the true worth of Michael Jordan. He had a bigger impact on the US economy than the entire NBA combined.

Michael Jordan had the upper hand over the entire NBA

According to the report, Michael’s contribution to the US economy in 1998 was $10 billion. Amazingly, the total value of all 29 NBA teams was just over $6 billion. In the 1990s, Jordan was involved in all sorts of sponsorship deals to make money while being the best on the court.

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MJ was endorsing Nike shoes and various products from top brands. During his first five championship wins with the Chicago Bulls, there was a sharp rise in television ratings, rights fees, NBA retail sales, and ticket sales.

His brilliance has also resulted in an increase in player salaries. Jordan’s personality and product line were estimated at $5.2 billion for Nike Inc. Six-time Finals MVP deals with other companies netted him around $408 million.

Watch this story: Michael Jordan’s in-game jersey sells for $4 million

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In addition, Jordan also contributed to the increase in NBA accessories sales, estimated at around $3.1 billion. Furthermore, his movie ‘Jordan’s Space Jam’ grossed $439 million at the box office and video sales. MJ managed to do something no NBA player could do on either side of the line.

The five-time NBA is still going strong in terms of business. He was the only billionaire in the NBA until LeBron James joined him this year. Jordan also has his own brand of ‘Cincoro’ tequila. The 59-year-old is also a co-owner of the NBA team ‘Charlotte Hornets’. He continues to expand his business and impact the country’s economy in important ways.

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