Tag: Michael Jordan

  • Recognizing the African American Business Legends Throughout History; Our Take at the Black History Month

    The world has seen a lot of revolutions, while it has even heard the stories of lasting horrors through generations. Some parts are still witnessing a dictator’s rule, and some are still involved in inhuman occurrences. 

    The hatred and the differences have created an invisible wall between communities, the largest among these being for African Americans. History has told us and still is repeated each day somewhere in the USA. But there’s still a side that celebrates the contribution of blacks to the growth of the United States. 

    February month is celebrated as black history month, honoring African Americans from all ages and periods in US history. It is an eulogy and commemoration to those enslaved people from the early 17th century, who fought the battles for their rights. And a salute to those Black men and women who are living in the United States and have positioned themselves as a strong figure even though their community still faces threats in some parts. 

    As a tribute from our end to the colossus’ of the African American community we at StartupTalky are here with a list of legends in the business field and those who have brought significant changes in the world. 

    This list will excite you with the mentioned names and put you in wonder. If you are ready to be fascinated, hop onto our words and encounter what history has. 

    These are the black business personalities from different periods of history who became legends:

    Madam C. J. Walker
    Daymond John
    Janice Bryant Howroyd
    Binta Niambi Brown
    George Foreman
    Michael Jordan

    Madam C. J. Walker

    Name Madam C.J. Walker
    Born 1867
    Founder Madam C. J. Walker Manufacturing Company
    African American Business Legends - Madam C.J. Walker
    African American Business Legends – Madam C.J. Walker

    An opportunist and the first-ever successful black businesswoman in the history of the United States, Madam C.J. Walker was the daughter of former slaves in Louisiana. She was born in 1867 as Sarah Breedlove and left a mark as the first female self-made millionaire in America. 

    Walker was the founder of Madam C. J. Walker Manufacturing Company, which manufactured a cosmetics and hair care product line developed especially for black women. 

    In the initial days, she traveled all over America to promote her method of hair care, also known as the “Walker Method”, with her husband, for years. Eventually, she became the owner of a huge corporation and trained hundreds of beauticians under her. 

    Daymond John

    Name Daymond John
    Born 1969
    Founder FUBU, “For Us, By Us”

    Meet Daymond John | Shark Tank US | Shark Tank Global

    You might recognize Daymond John as the Shark (investor) on ABC’s reality television series Shark Tank, but he is much more than that. He is the founder of the streetwear clothing brand FUBU, which stands for “For Us, By Us”. John is also the CEO of Shark Group, which is a brand consultancy. 

    Daymond John mortgaged his mother’s home for USD 100,000, this seed money was then used to turn half of his home into a clothing factory, while the other half was used as a living space. His mother taught him to sew clothes and supported him during all of his and FUBU’s journey. 

    The Wool Ski hats were the first product that earned him USD 800 within a single day, back in 1992, after which he began selling screen-printed t-shirts. 

    A brilliant strategy he used was lending clothes to popular musicians to build brand recognition. The music videos led to a huge growth of the company and eventually FUBU became a successful clothing line. 

    The struggles he has faced during the initial days of making FUBU famous have kept him down to earth. His rough days have encouraged him to guide new entrepreneurs too. 

    Janice Bryant Howroyd

    Name Janice Bryant Howroyd
    Born 1952
    Founder The ActOne Group
    African American Business Legends - Janice Bryant Howroyd
    African American Business Legends – Janice Bryant Howroyd

    She is many things, an entrepreneur, a businesswoman, an author, and with that she holds a great experience from her fighting days as a black businessperson and a woman. The struggle was real and yet she is one of the most successful businesspeople in the USA. 

    Janice Bryant Howroyd is the founder and CEO of The ActOne Group, a firm that generated an annual revenue of more than USD 1 billion. The company is an employment agency and consultancy based in Los Angeles.

    Janice marketed her company in 1978 only through word of mouth. She is also recognized as the first African American woman who built a billion-dollar company. 

    It was in 1976 when Howroyd moved to Los Angeles and worked for her brother-in-law as a temporary secretary at Billboard Magazine. She started her company with a mere budget of USD 1000. Her first client? It was the same person she worked for, Tom Noonan.


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    Binta Niambi Brown

    Name Binta Niambi Brown
    Born 1973
    Founder Omalily Projects
    African American Business Legends - Binta Niambi Brown
    African American Business Legends – Binta Niambi Brown

    Binta Brown is the founder of Omalily Projects. A former attorney, with a successful career, Brown became an artist manager, by starting her own music production company. If you’ve heard of Music Lab, you should know that Binta Brown is also the executive director and co-founder of this nonprofit educational program. 

    Music lab looks after the young artists and musicians in Milwaukee, Wisconsin. She has always been enthusiastic to support the music industry with a business aspect. With open arms for black artists, Binta has managed to become a legend in the music industry. 

    She is on Billboards 2021 Change Agents List, and Billboards 2020 Hip-Hop & R&B Power Players list. Similarly, Binta Brwon is an entrepreneur with her name on the Billboard 2020 Women in Music List. 

    George Foreman

    Name George Foreman
    Born 1949
    Profession Professional Boxer, Entrepreneur
    African American Business Legends - George Foreman
    African American Business Legends – George Foreman

    At the age of 45, George Foreman became the oldest person ever to win a heavyweight boxing belt. This was in the 1990s, and this is how his journey into multiple business ventures began. 

    Today some various products and businesses have traces of Foreman. In the ’90s, a sensational grill ruled the whole era, it was named the George Foreman grill, which was George’s most appreciated business. However, the rights of that brand are owned by manufacturer Salton today, which were repurchased in 1999 for USD 137.5 million. 

    But as we mentioned earlier, it wasn’t the only business begun by the boxer. He also invested in EverybodyFights, a gym brand founded by his son George Foreman III. 

    Michael Jordan

    Name Michael Jordan
    Born 1963
    Profession Professional Basketball Player, Businessman
    African American Business Legends - Michael Jordan
    African American Business Legends – Michael Jordan

    You know him through Nike’s Air Jordan, a shoe line that is globally accepted by teens, fashion enthusiasts, and basketball players. Besides being the most celebrated basketball player, he has a hold on numerous brand partnerships. 

    Jordan is one of the most recognized basketball players for the extraordinary games that he played throughout his 15 seasons in the NBA. He managed to make an impressive record in the history of the NBA, gain marvelous points, and win a series of awards. But what’s more important is he owns the brand partnership of a billion-dollar business, Air Jordan itself. 

    Michael Jordan even has partnerships with Coca-Cola and Gatorade, Chevrolet, and McDonald’s. In 2021, he was named as the highest-paid athlete of all time by Sporting News. 


    List of Brands Endorsed by Michael Jordan
    Michael Jordan is a former basketball player and is one of the greatest basketball players of all time. Take a look at brands endorsed by MJ.


    The black side of America has faced huge community backlashes, less access, and racial rejection, but some have managed to thrive throughout history. 

    NBC News right after the pandemic issued that the number of Black-owned businesses has substantially grown by at least 38%. This growth was recorded from February 2020 to August 2021. 

    If you are interested in more intriguing lists and information keep visiting StartupTalky, because we like to see you more. 

    FAQs

    What is the black history month?

    February month is celebrated as black history month, honoring African Americans from all ages and periods in US history.

    Who are the African American business legends throughout history?

    Below are the top African American business legends throughout the history:

    • Madam C. J. Walker
    • Daymond John
    • Janice Bryant Howroyd
    • Binta Niambi Brown
    • George Foreman
    • Michael Jordan

    Who is Janice Bryant Howroyd?

    Janice Bryant Howroyd is an entrepreneur, a businesswoman, and an author, and with that, she holds a great experience from her fighting days as a black businessperson and a woman. She is one of the most successful business people in the USA. 

  • List of Brands Endorsed by Michael Jordan

    Also known by his initials MJ, Michael Jordan’s biography on the official National Basketball Association (NBA) website states: “By acclamation, Michael Jordan is the greatest basketball player of all time.” The American former professional basketball player and businessman were vital in popularizing the NBA around the world during the 1980s and 1990s. Michael Jordan has played 15 NBA seasons and won 6 championships with the Chicago Bulls.

    Eventually, he became a Cultural Icon. It wouldn’t be wrong to assume that the name Michael Jordan is a brand in itself. For such a popular personality and a great basketball player, brands couldn’t turn a blind eye to partner with Michael Jordan for marketing and endorsements.

    Michael Jordan became one of the most marketed sports figures in history for endorsing brands which made the brands themselves big and Jordan himself popular and wealthy:

    Nike
    Gatorade
    Chevrolet
    McDonald’s
    Ball Park Franks
    Rayovac
    Wheaties
    Hanes
    Upper Deck

    Nike

    In 1984, Nike was a struggling company when they signed a deal with a 21-year-old NBA rookie. Michael Jordan signed a US$500,000 five-year contract with the company with an upfront commitment of US$250,000 and gave him his own signature brand – Air Jordan, which was more than any other NBA deal at that time.

    Michael Jordan with Nike Air Jordan I
    Michael Jordan with Nike Air Jordan I

    Nike Air Jordan I, the popular Black and Red shoe, was the one that started a revolution. After Air Jordan was released at a retail of US$60, it made US$126 Million in the first year alone, shattering the prediction of US$3 Million in four years. According to Forbes, it was estimated that the Nike Air Jordan brand was worth US$3 Billion and MJ’s current lifetime deal with Nike was US$1.3 Billion at the end of 2019.

    Gatorade

    Michael Jordan repped with Coca-Cola through several commercials in the 1980s. After the deal was up, Coca-Cola refused to give Jordan the deal he was seeking: a 10-year, seven-figure deal. Gatorade, owned by Quaker Oats at the time, pounced on the opportunity and gave Jordan the same deal which paid him US$13.5 Million over a 10-year deal to be Gatorade’s only endorser in 1991.

    Michael Jordan has had a good relationship with the company. Since 1991, he has appeared in over 20 commercials for Gatorade, including the famous “Be Like Mike” commercials in which children sing a song wishing to be like Jordan. Almost over three decades later, those commercials still remain popular.

    Chevrolet

    Soon after he received a signing bonus of US$10 Million from the Chicago Bulls, Michael Jordan reportedly bought seven cars for his family and himself, at once! He was a big enthusiast of cars.

    Chevrolet was Jordan’s first-ever endorsement deal for a sum of US$200,000 during his rookie year in 1984, well before he became an international phenomenon.

    McDonald’s

    The McJordan Burger was a limited edition McDonald’s Burger which was released in 1992 and Michael Jordan himself appeared in the commercials too. MJ became the first celebrity in history to have a meal named after him.

    One of the most famous McDonald’s commercials was, featuring Michael Jordan and Larry Bird where they competed in a game of HORSE for the prize of Big MAC and some fries, in 1993.

    Ball Park Franks

    Michael Jordan’s endorsement endeavours stamped into the food industry with Ball Park Franks signing Jordan for a US$2 Million deal in 1990. Jordan appeared on the posters wearing a red basketball jersey and holding a hotdog in his hand. The famous poster at that time was Jordan in a slam dunk jump position with the hot dog in his hand, instead of the basketball.

    Michael Jordan Ball Park Franks Endorsement
    Michael Jordan Ball Park Franks Endorsement

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    Rayovac

    Rayovac, a privately held battery manufacturer which was the third-largest US battery company at that time, signed Michael Jordan for a long term endorsement contract, in 1995. Although the terms were not disclosed, the deal was estimated at US$10 Million over 10 years.

    According to the deal, Michael Jordan was a spokesman for Rayovac Power Station chargers and Renewal Reusable Alkaline Batteries.

    Wheaties

    Michael Jordan became the 7th celebrity athlete to grace the cover of one of the famous boxes when he signed up with the Breakfast Cereal brand for US$2 Million in 1988. Wheaties was a popular brand and as an athlete, you know you have made it when you have appeared on the cover of a Wheaties box.

    On Wheaties’ website, they say no other athlete has appeared more on the cover of their boxes than Michael Jordan – a whopping 18 times which is a record standing till today. On eBay, some of MJ’s vintage Sports Cereal Boxes are still up for sale.

    Hanes

    Michael Jordan signed with Hanes way back in 1989 and continues to be the underwear company’s brand endorser to this day. In 2019, the relationship marked 30 years and it was celebrated with MJ handing out 30th Anniversary Michael Jordan trading cards featuring his ads in packages of underwear. Over 800,000 bonus packs of promotional trading cards of Hanes men’s underwear were included.

    Michael Jordan Hanes Trading Cards
    Michael Jordan Hanes Trading Cards

    According to Hanes, There were 170 different Fleer trading cards produced by the Upper Deck Company for the promotion. Each pack contained five cards. Ten of the packs contained a card autographed by Jordan.

    Upper Deck

    Trading Card and Collectibles company, Upper Deck, signed Jordan for endorsement in 1992. Micheal Jordan’s rise was always greatly beneficial for Upper Deck, and they have pretty much been with MJ at the beginning of his career.

    Upon Jordan’s two retirements, Upper Deck continued to create unique and amazing autographed cards and memorabilia in his honour, which often went for a ridiculous amount of money online.

    Signed Jerseys (US$2,500), Basketballs (US$2,000) and Photographs (US$850 and up) – these were included in The Michael Jordan Collection for Upper Deck. Many unsigned photographs and prints for US$250 were the cheapest items whereas the costliest item was an autographed Fleer Rookie Car for US$30,000.

    David Falk – The Super Agent Behind Michael Jordan’s Staggering Endorsement Deals


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    Conclusion

    Falk’s ability to generate lucrative endorsement deals was pivotal in generating wealth and popularity for Michael Jordan, which in turn landed Falk with numerous other clients throughout the years. According to Forbes, the net worth of ‘His Airness’ as of 2021 is a massive US$2.62 Billion in inflation-adjusted earnings, making him the highest-paid athlete in the world.

    There are no two opinions about Michael Jordan being the greatest basketball player of all time and the history of his endorsement deals due to his rise in sports made the name Michael Jordan, a brand in itself.

    FAQs

    What is the net worth of Michael Jordan?

    The net worth of Michael Jordan is $1.6 billion as of 2022.

    Who is the wife of Michael Jordan?

    Yvette Prieto, an American model is the wife of Michael Jordan.

    How old is Michael Jordan?

    Michael Jordan was born on 17 February 1963 and is 59 years old.

    Why Michael Jordan is famous?

    Michael Jordan is known as one of the best basketball players in the world. He is known for winning six National Basketball Association (NBA) championships for the Chicago bulls and has also won NBA’s Most Valuable Player (MVP) five times