Charles Barkley reveals how a small investing tip from Michael Jordan helped him make millions with Nike
AP Photo/Seth Wenig
- Michael Jordan has made a lot of money for himself with Nike and helped others do the same.
- Jordan personally reviewed Charles Barkley's Nike contract and convinced him to change it.
- Instead of cash, MJ convinced Barkley to ask for stock options, which paid off handsomely.
Michael Jordan made a good amount of money in his NBA playing career, but his real fortune was earned through his venture with Nike.
As it turns out, Jordan also had some great advice regarding Nike for his Team USA teammate Charles Barkley.
Barkley revealed on "The Steam Room" podcast that Jordan offered him a financial tip that wound up being worth millions.
At the time, Barkley and Jordan were both Nike athletes.
"He says, 'Hey man, why you need all that money?'" Barkley recalled. "I was like, 'Dude, what are you talking about?' He says, 'I was looking at your contract, you making about three million dollars, tell Nike you want a million, and you want the rest in stock options.' I said I will run it by my guys."
"This dude is the greatest basketball player of all time — let's do it."
—Bleacher Report (@BleacherReport) May 4, 2023
As you can imagine, the deal worked out quite well for Barkley, as it did for Jordan.
"I actually made probably 10 times the amount of money," Barkley concluded. "And I'm still with Nike to this day."