Michael Jordan once asked for help from his mom for money and food stamps with just $20 left in his bank account.

NBA legend, Michael Jordan, as a young college student at the University of North Carolina (UNC) in the early 1980s, wrote a letter to his mother, Deloris. In the letter, a teenage Jordan mentioned his low bank account balance, he had around $20 only. He requested some extra cash to cover his expenses and even asked for food stamps.

The story of Michael Jordan asking for money came to light during the promotion of The Last Dance documentary. MJ’s story is like any other college student who needs financial help from family.

Michael Jordan comes from a humble background

Michael Jordan’s upbringing involved financial limitations. His father, James Jordan, worked as an electrician at a General Electric plant. It was a steady job but likely didn’t provide substantial income for a family of six. Undeniably, Basketball became a passion for Michael. Excelling at it offered a path towards a brighter future for the ex-Chicago Bulls icon.

Michael Jordan’s rags-to-riches story

Eventually, Michael Jordan went on to become one of the highest-paid players of his era. While his playing salary might seem modest compared to today’s superstars (around $90 million in total), he became a master marketer with Nike. The iconic Air Jordan sneakers he helped design in 1984 remain hugely popular. Plus, it generated billions for Nike and helped earn Jordan a hefty royalty stream (over $100 million annually). He also had lucrative deals with brands like Gatorade and McDonald’s.

In 2006, he became part-owner and head of the Charlotte Hornets (then Bobcats). Though he sold his controlling interest in 2023, the franchise’s value skyrocketed under his leadership. It made him a billionaire. He also owns a NASCAR team, 23XI Racing.

ML has also profited from movie appearances like Space Jam and sales of his memorabilia. A game-worn pair of his sneakers from the 1997 finals even fetched over $100,000 at auction!

Michael Jordan’s time at the University of North Carolina (UNC)

Michael Jordan entered UNC in 1981. Even as a freshman, he made a major contribution. Jordan delivered the game-winning shot for the Tar Heels in the 1982 NCAA championship game against Georgetown.

Throughout his sophomore and junior years, Jordan excelled. He was named College Player of the Year in both seasons and received awards like the Naismith and Wooden College Player of the Year in 1984. He was also selected to the NCAA All-American First Team in those years.

Eventually, MJ opted to leave UNC after his junior year to enter the 1984 NBA draft. He was drafted by the Chicago Bulls as the third overall pick. Interestingly, Jordan returned to UNC in 1986 to complete his degree in geography and graduated with a Bachelor of Arts.