Jordan Brand pledged to donate $100 million over the next 10 years to "organizations dedicated to ensuring racial equality, social justice, and greater access to education," according to a statement on behalf of Michael Jordan and the company.
"Black lives matter. This isn't a controversial statement," the release read. "Until the ingrained racism that allows our country's institutions to fail is completely eradicated, we will remain committed to protecting and improving the lives of black people."
Earlier on Friday, Nike Inc. pledged $40 million to similar initiatives on behalf of itself, Jordan Brand, and Converse. It is unclear whether Jordan Brand's commitment is inclusive of its parent company's pledge.
Jordan, who owns a majority stake in the Charlotte Hornets, has a history of philanthropic endeavors. It was reported in April that the 57-year-old intended to donate his earnings stemming from the ESPN docuseries "The Last Dance" to charitable causes. The sum was expected to be between $3 million and $4 million.
Forbes currently estimates Jordan's personal net worth to be $2.1 billion.