Michael Jordan First Athlete To $1 Billion

There has been much speculation as to who will be the first athlete to reach $1 billion. Some speculated it would be Tiger Woods while others pointed to LeBron James.

Darren Rovell, CNBC Sports Business Reporter, writes that the speculation can now end. The winner is Michael Jordan:

The rise of Jordan as a marketing icon is an amazing story. The kid from the University of North Carolina, who had never worn Nikes before he signed his contract, made buying Air Jordans an annual ritual. And 6 ½ years after he played his last game, the business continues to grow. At more than $1 billion in sales, the Jordan brand now makes up roughly 5 percent of Nike’s overall revenues.

Consider the statistics released by SportsOneSource, a sports market retail tracking firm:

• The Jordan brand has a 10.8 percent share of the overall US shoe market, which makes it the second biggest brand in the country and more than twice the size of Adidas’ share.
• Three out of every four pairs of basketball shoes sold in this country are Jordan, while 86.5 percent of all basketball shoes sold over $100 are Jordan.