Billionaire Michael Jordan Continues to Upstage Kanye West After Rapper Takes Massive Hit to Net Worth
Michael Jordan was undoubtedly one of the most iconic athletes back in the 90s. The NBA legend had his name synonymous with basketball greatness at the time. ‘His Airness’ inspired millions of kids to try and be great in their future. The six-time NBA champion and his team realized early in his career what he was capable of and soon after, released a sneaker line named ‘Air Jordan’, in collaboration with Nike. The Chicago Bulls legend had his sneaker line as one of the most demanded shoes until rapper-producer Kanye West started his own collaboration with Adidas, called ‘Yeezy’. The Bulls no. 23 became the undisputed King of sneakers recently after Kanye West’s collaboration with Adidas ended, following his antisemitic comments that have sparked outrage, Several of West’s endorsement brands like Adidas have cut ties with the controversial figure.
Although Kanye West and his ‘Yeezy’ were not causing huge problems for ‘Air Jordan’, they were giving tough competition to the latter. The company found its true competitor in sneakers as the rapper created a culture of his own based on his unique brand and style.
Following West’s recent comments, the German sportswear brand decided to cut ties with him. Notably, around two-thirds of his net worth resulted from his collaboration with Adidas. And after recent events, his net worth is down to around $400 million.
The Jordan brand crossed $5 billion in annual revenue for the first time in 2021. With ‘Air Jordan' as the majority, the brand also has sports clothing and accessories. ‘Yeezy’ was close to competing with ‘Air Jordan’ as its sneaker sales were $1.3 billion in 2019. With the recent turn of events, Michael Jordan and his ‘Air Jordan’ would likely be the undisputed leader in sneakers, at least for the time being.
Since its conception, the ‘Air Jordan’ sneakers have evolved almost yearly in style and design, remaining arguably the most sought-after sneakers in the market. The Chicago Bulls legend earns 5% off every Jordan brand product sold, making him a fortune in this process. A recent tweet by Jon Erlichman said that Nike now generates $3 million in sales every five hours.