Michael Jordan And Jordan Brand Pledge $100 Million To Racial Equality

Author image

Alexandra Sternlicht   Forbes U.S. Staff

Michael Jordan

Photo: Jordan Twitter

Michael Jordan and the Nike-owned Jordan Brand pledged to contribute $100 million over the next 10 years to organizations dedicated to racial equality, social justice and education access, in the largest corporate donation made in the response to George Floyd’s death.

KEY FACTS

- “Jordan Brand is us, the black community,” begins the statement. “Until the ingrained racism that allows our country’s institutions to fail is completely eradicated, we will remain committed to protecting and improving the lives of black people.”

- Many other celebrities and corporations have donated to the cause of racial equality, but none have come close to Nike and Jordan: Amazon, the second-largest company in the U.S., gave $10 million, as did Facebook, which did $71 billion in revenue in 2019.

- Michael Jordan and the Jordan Brand will each provide $50 million of the $100 million donation, according to sports business reporter Matthew Kish, in addition to the $40 million Nike pledged this morning.

- “There is still more work for us to do to drive real impact for the black community. We embrace the responsibility,” said Jordan Brand President Craig Williams in the statement. 

- Nike began selling Air Jordans in 1985 and the company carved out the Jordan Brand as a distinct unit in 1997; 2019 revenue for the brand was $3.14 billion.

KEY BACKGROUND

57-year-old Michael Jordan is the richest athlete in the world, according to Forbes, with a net worth of $2.1 billion. He’s regarded as the NBA’s greatest player of all time, garnering six titles from his time on the Chicago Bulls, per Forbes. While playing he made $90 million, but has earned $1.7 billion in NBA retirement from Nike and other corporate partners like Hanes and Gatorade. 

Author image

Alexandra Sternlicht   Forbes U.S. Staff

I’m the Under 30 Editorial Community Lead at Forbes. Previously, I directed marketing at a mobile app startup. I’ve also worked at The New York Times and New York Observer. I attended the University of Pennsylvania where I studied English and creative writing.