In a recent ranking of the richest footballers on the African continent by South African news portal Soccerladuna, Essien was ranked number nine.
The major sources of his worth are his wages and endorsements:
Michael Essien who is believed to be worth $32 million made majority of his money during his active playing days.
Essien has had an illustrious career progressing from Bastia to Lyon before Chelsea made a big-money move to secure his signature for 24.4 million pounds in 2005.
Before arriving at Chelsea, he was the best footballer in the French Ligue 1.
At Chelsea, he was instrumental as the Blues defended the Premier League title in 2005/2006 and on the individual level he had the season of his life when he won Chelsea Player of the Season and the Goal of the Season as well in 2007.
Essien’s sensational career has also had an impact in his packet having enjoyed good wages through his active playing days, especially, following his dream move to Chelsea.
According to a report by ESPN Essien was on a salary $5,500,000 at Chelsea in 2011 and Goal.com report indicated in 2012 that the former Real Madrid midfielder was on an annual salary of $6.6 million.
He enjoyed similar salary at Real Madrid, but following his move to AC Milan in 2014, his annual salary was slashed to 2.5 million euros.
Furthermore, at the twilight of his career, he became the highest-paid player in the Indonesian league when he joined Persib Bandung in 2017.
Essien at Persib Bandung as reported by the Guardian, he was on an annual salary of $750,000.
Essien’s net worth grew and as of 2015-2016 it was $25 million and in 2020 reports emerged his worth has accumulated up to between $32 million to $35 million.
One of the major sources of earning for most sports personalities is the signing of endorsement deals and Michael Essien is no exception to that.
Michael Essien and his former Black Stars teammate Stephen Appiah signed lucrative deals to promote the various brands of MTN Group, the continental telecommunication giants in 2007.
They promoted the activities of the continent's biggest telecommunication outfit.
The two Ghanaian football icons were the first players to clinch a deal with MTN, who is one of the biggest sponsors of football in Africa.
Michael Essien in 2017 became the face of Adidas in Indonesia, after sealing a bumper deal with the German kit manufacturers.
The former Black Stars midfielder's deal with German sportswear giants, Adidas worth $500,000.
Essien’s relationship with Adidas dates back to his days at Chelsea when he became an ambassador of the second largest sports brand in the world
The deal was aimed at boosting the image and popularity of Adidas in Indonesia.
How he spends Essien spends his money
The 37-year-old has a reported net worth of $32 to$ 35million and we look at what may possibly be on the Ghanaian's expenditure list.
The former Chelsea and Real Madrid player runs the Michael Essien Foundation (MEF) which is a local Ghanaian charity organization founded to create opportunities, hope & inspiration for the underprivileged in his hometown of Awutu Bereku area mainly and children all over Africa.
Essien is highly respected in his hometown due to what he has done for them. In 2010, he financed two projects in his hometown.
The ex-Ghana midfielder through his foundation, constructed a water bore hole in the centre of the town as well as new public toilet.
The project was aimed at bringing fresh water and better hygiene to Awutu Breku community.
Essien is known as a charitable individual who is softly spoken but well respected globally. He often organizes fundraising soccer matches amongst many of the world’s top players to help raise funds for various initiatives, with children holding a special place in his heart. He is also the peace ambassador chosen by the African Union to promote peace in Africa.
Michael Essien undoubtedly has a taste in sports investments. In 2006, he was reported to be in talks to buy Irish club, Limerick FC.
In March last year, his wife, Akosua Puni Essien bought Italian football club Como at an auction for £206,000 (€237,000), which many speculating that the former Ghanaian midfielder has a hand in the purchase.
Cars and mansions
Even though Michael Essien is not noted for living an extravagant life, the footballer surely has an eye for luxurious houses and cars.
His apartment during his Chelsea days was the talk of town. He has been spotted in a number of car shops with the most recent visit coming from his former Ghana team-mate, Sulley Muntari's car shop.
Michael Essien cars include an Audi Q7, Aston Martin, a Milan Car, a posh Mercedes Benz, and a recently acquire Range rover Vogue estimated to have cost him well over 75,000 Euros. Read In 2017, Michael Essien reportedly signed a mouth-watering deal with sportswear giants Adidas worth $500,000. It made the Ghanaian midfielder the face of German sportswear giants Adidas in Indonesia.