Michael Jordan entrepreneur biography

Company: Charlotte Bobcats

Position: Chairman

Business: Sports & Recreation

Country: United States Of America

Michael Jeffrey Jordan is Chairman and vast majority owner for the NBA's Charlotte Hornets, which he bought from BET president, Robert L. Johnson in 2010. He joined the NBA's Charlotte Hornets ownership team as a minority owner in Summer 2006, serving whilst the staff's Managing Member of Basketball Operations.

He could be just the third Black United states additionally the first NBA player to be a Billionaire.

He is 1st former NBA player and just the second Black United states is most owner of an NBA franchise.

Mr. Jordan enhanced their ownership risk in his basketball group to 89.5per cent from 80%. Their bulk ownership stake into the Charlotte Hornets was approved because of the NBA on March 17th, 2010.

Mr. Jordan received an estimated $80 million last year from corporate lovers Nike, Gatorade, Hanes, Upper Deck, 2K Sports, Presbyterian medical and five-star Fragrances. Their various other possessions include six restaurants, a North Carolina dealership, a motorsports staff.

The Jordan Brand, a division of Nike, is in charge of almost all Mr. Jordan’s profits. The Jordan Brand made its debut in 1997 and it has cultivated into a whole assortment of overall performance and life style products with Mr. Jordan's innovative design feedback. The business is reported to today produce significantly more than $60 million in annually royalties for Mr. Jordan.

The Jordan Brand sneaker company makes over $1.75 billion globally in wholesale revenue in 2012. LeBron James is the top-seller among existing NBA players with trademark shoe deals, but Jordan outsold James by a 6 to 1 margin in 2012 when you look at the U.S.

Among the world's most widely used and identifiable figures, Jordan's recommendation portfolio includes Gatorade, Upper Deck, Hanes, Nike, Coca-Cola, Chevrolet, McDonald's, Ball Park Franks, Rayovac, Wheaties and MCI. Jordan has already established a lengthy commitment with Gatorade, appearing in over 20 advertisements for organization since 1991.

In 2004, Jordan formed Michael Jordan Motorsports due to his passion for bike racing. Among Jordan's other business ventures are many flourishing restaurants.

Jordan aids many charitable reasons such as the James R. Jordan girls and boys Club in Chicago, the Jordan Institute for Families at the University of vermont, the Make-A-Wish Foundation and many others through M & J Endowment Fund. His annual jordan Celebrity Invitational golf competition has actually raised over $2 million for a couple of worthwhile charities since its inception.