Chuck got some pretty good financial advice from Michael Jordan.

Charles Barkley and Michael Jordan may no longer be on talking terms, but the former can definitely thank the latter for the excellent financial advice he received that allowed him to make a boatload of money from Nike.

The early days
The two NBA legends are forever intertwined as they both came from the much-heralded 1984 NBA Draft class, along with the likes of Hakeem Olajuwon and John Stockton. Jordan got selected third overall by the Chicago Bulls, while Barkley got picked 5th by the Philadelphia 76ers. The two were also targeted by Nike—then an up-and-coming brand—to become their first major endorsers.

As they were negotiating their deals, Jordan saw Barkley’s contract and gave him some precious advice that changed his life:

“He says ‘Hey man, why you need all that money?’ 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,” Barkley said.

Paid dividends
It was a calculated risk for both Jordan and Barkley, but it obviously paid off. This is because Nike eventually became one of the most successful and valuable brands in the world, allowing them to reap great financial rewards.

Jordan has since gone on to become a billionaire, while Barkley has also made millions from his stock options.

“I actually made probably 10 times the amount of money. And I’m still with Nike to this day,” Barkley shared.