Initially starting with projecting $3m in 4 years, Michael Jordan progresses to earning $3m every 5 hours
A recent tweet by economic historian Jon Erlichman talks about Nike’s massive growth when they saw Michael Jordan’s business potential in 1984. Long before acquisitions began, David Falk and Phil Knight had a vision when their company was just about to get started that decade.
They saw what no one else had seen in Michael, a generational talent who was sure to become one of the greatest basketball players in the world one day. They truly were clueless about this man’s potentials, all the possible highs Jordan could reach even after his retirement.
Initial projections expected Michael Jordan to bring in $3 million over four years with his first Nike deal. A lot has happened since then. It’s been a really wild ride for Nike and MJ.
Michael Jordan Himself, was Nothing Less than a Brand
From the first month of launch, Nike realized that Michael Jordan was completely his own brand and the demand for his shoes skyrocketed. From that moment on, he became a cultural phenomenon, making people all over the world obsessed with his shoes. Today, Jordan is making $3 million every five hours. According to Forbes, Nike pays him $410,000 a day, making him a staggering $150 million based on 2021 earnings.
Michael Jordan earns 5% on every Jordan Branded item sold. Every day, Nike generates $15 million in total Jordan Brand sales. Talk about making a difference. None of this would have been possible without Michael Jordan’s on-court success.
What Exactly Seems to be the Impact of Jordan Brand in Today’s Market?
The sneaker resale market has seen its own growth over the past two decades, reaching unprecedented heights. What Jordan Brand makes on a daily basis is not even close to the amount they generate through resells. Often, some silhouettes cost him 400% to 500% more than the retail price.
This is due to a combination of factors such as model exclusivity, demand, and the impact of each silhouette. Although it is unintentional, Michael Jordan offers jobs to the millions of people around the world who have decided to get into the business of sneakers and athletic apparel.
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