Michael Jordan, who became well-known for his 1990s endorsement deals, admitted in an interview that he declined a sizable offer from Beanee Weenees. The combination of baked beans and hot dogs in a can would have brought Jordan an annual income of close to $1 million.
Jordan turned down the offer because he didn’t want to be associated with the product or use its name. He chose not to support Beanee Weenees despite the prospective financial reward because of his morality and personal preferences.
Michael Jordan once passed $1 million ‘Beanee Weenees’ deal
In a May 1992 interview with Playboy, Michael Jordan discussed his choice to decline offers to endorsing particular goods. One such proposal came from Quaker Oats, which asked him to support Van Kamp’s Beanee Weenees brand of pork and beans. Jordan turned down the opportunity due to his distaste for the brand name and personal reluctance to promote a product he had never used.
“Two or three years ago Quaker Oats came to me to endorse Van Kamp’s pork and beans-Beanee Weenees, I think it was called,” Jordan said. “You ever heard of Beanee Weenees pork and beans? It was close to a million bucks a year. I’m saying, Beanee Weenees? How can I stand in front of a camera and say I’ll eat Beanee Weenees?”
With only one MVP award and no NBA titles to his credit at the time, Jordan had not yet achieved the pinnacle of his playing career. Even though he wasn’t in financial difficulty, he was still a long way from becoming a retired billionaire. At that time in his NBA career, he had made less than $4–$5 million, so declining a multi-year deal paying about $1 million annually was not an easy choice for him.
In the interview, Jordan also disclosed that he pulled out of an agreement for a hair care product because he was beginning to experience hair loss. He chose not to pursue it further, stating, “I forfeited the deal. But if I had wanted to be greedy, I could’ve said, Screw you, you didn’t know my hair was falling out so you owe me money. But I didn’t.”
These revelations highlight Jordan’s ethical endorsement strategy, which places a higher priority on values and integrity than it does on profit.
Jordan boasts net worth of over $2 billion
According to Forbes, Michael Jordan, largely recognized as the greatest basketball player of all time, has a net worth of more than $2 billion as of 2023. Jordan’s financial success is a result of his wise asset management, despite the possibility that his planned sale of the Charlotte Hornets would reduce his net worth. His estimated net worth in 2020 was $2.1 billion, making him the first billionaire athlete and the richest retired professional athlete worldwide.
Jordan’s ownership of the Hornets has greatly added to his fortune despite a loss of almost $500 million, mostly because of exceptional circumstances. The franchise was first purchased for $175 million in 2010, and since then, its worth has increased to almost $1.7 billion. Jordan has also broadened his investing portfolio by joining DraftKings and co-owning a NASCAR franchise.
In terms of handling his post-career money, Jordan serves as an example for future NBA players thanks to his excellent asset portfolio and steady financial development.