This Is How Michael Jordan Spends His Money

Even though his basketball days are behind him, Michael Jordan still brings in some serious cash with an estimated $1.5 billion net worth. That is a lot of money to spend, and, for the most part, a lot of his major purchases have turned into great investments that netted him even more moola. 

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 Observer about hosting NBA All-Star Weekend in the state where he played college ball. "[T]he opportunity to represent North Carolina in an All-Star Game from a different seat is truly amazing. It tells the path that I have taken.  It gives me great pleasure to give that back to the community," he said. "It's been a long-traveled road." 

Hosting that event was a big deal to the Hornets organization, but Jordan has an even bigger goal in mind. "I'm always dreaming about that seventh ring," he told ESPN. "And to get to that would be much more gratifying" than the six he won when he played in the league. He also admitted that being an owner instead of a player "isn't as much fun, but it's a lot harder."

The Hornets are the only sports organization Jordan has purchased. In 2018, NBC Sports Chicago reported that MJ dropped $5 million to have a stake in the Miami Marlins, along with baseball legend Derek Jeter, the organization's CEO.

Michael Jordan's diverse array of investments includes a chain of restaurants called Michael Jordan's Steakhouse, located in Illinois, Connecticut, and Washington. The restaurant features Jordan-themed menu items, including a 23-layer chocolate cake in honor of Jordan's jersey number. The Oak Brook, Ill. location even offered a take-out special in 2020 to honor the Chicago Bulls documentary The Last Dance. In addition to the food, the first 23 people who ordered received a limited-edition The Last Dance poster. 

"Any time 'M.J.' is in Chicago he's in the restaurant," Executive Chef Craig Couper told Forbes. "He really loves coming in."

Jordan steakhouse isn't the only business in which he has a stake. He also partnered with New York Giants alum Tucker Frederickson, golfer Ernie Els, and some other investors to back 1000 NORTH, a restaurant/lounge located on the water in glamorous Jupiter, Fla.  

MJ also owns Michael Jordan Nissan in Durham, N.C., which reportedly offers "Team 23 for Life" perks not available at other dealerships.

With business investments around the country, it's logical that Michael Jordan would also own multiple homes. In 2012, Yahoo Sports confirmed that he purchased a $12.4 million mansion in Jupiter, Fla. That casa has 11 bedrooms, a pool house, and a basketball court, obviously. It also has a special ventilation system for removing cigar smoke.

In 2013, the NBA legend purchased a $2.8 million dollar home in Charlotte, N.C., according to AOL. That price tag was apparently a "bargain," since the home was originally listed at $3.49 million. The waterfront abode has eight bedrooms and is situated 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 could buy one of his properties for the right price. In October 2019, Forbes reported that Jordan had listed his Park City, Utah home for $7.5 million. The Chicago Bulls legend's Chicago mansion has reportedly been on the market since 2012, per Business Insider. The home was originally listed for $29 million but gradually dropped to only $14.855,000 — those numbers add up to 23. Perhaps invoking Jordan's jersey number will be a lucky charm to finally unload this mansion. He reportedly pays more than $100,000 in property taxes annually and pays staff just to maintain the home.

Even though Michael Jordan has invested a lot of money into his homes and business ventures, His Airness still has a lot of cheddar he can spend on traveling from one luxurious place to another. 

According to The Washington Post, the basketball icon had his private jet painted to represent a Jordan sneaker in 2017, which was probably not cheap. If he wants to switch up his mode of transport, Jordan can board his $80 million yacht. In 2019, TMZ reported that it cost "$840,000 per week" just to "charter the 230-foot floating mansion." 

When he's on land, 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 rides. Jordan even has spiffy wheels for the golf course — "a custom, Carolina blue Air Jordan 'Jumpman' golf cart" with monogrammed seats," per USA Today.