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Michael Jordan’s net worth has mysteriously dropped by $500 million
Michael Jordan is more than simply one of the greatest athletes of all time. He’s also the wealthiest. Jordan’s net worth reached $2.1 billion in 2020, making him the world’s richest sportsman.
With the Charlotte Hornets increasing in value and several brands continuing to pour millions of dollars at the NBA star year after year, one would expect Jordan would only get richer.
However, according to the most recent Forbes report, Jordan’s net worth has dropped by an unknown $500 million since 2020.
Michael Jordan earned only $93 million in the NBA
Today, $100 million contracts have almost become the norm in the NBA.
As the NBA salary cap reaches unprecedented heights, role players have been frequently granted six-figure contracts.
Even Al Horford, the NBA’s personification of mediocrity, was awarded a $109 million contract two years ago.
However, Michael Jordan, widely recognized as the greatest basketball player of all time, earned only $93 million in his 15 seasons in the NBA.
The Bulls received their money’s worth after winning six NBA titles in the 1990s.
And, despite being badly underpaid as a basketball player, Jordan more than made up for it in retirement.
In 2020, MJ’s net worth will have skyrocketed to $2.1 billion
Michael Jordan became a global celebrity thanks to the NBA, but it was his endorsement deals and business savvy that made him wealthy.
Jordan signed a five-year contract with Nike in 1984, when he was just a rookie, for $500,000 per year.
Nike’s Jordan Brand eventually took off and became one of the most well-known sports brands.
According to Forbes, Jordan has made more than $1.3 billion from Nike alone as of 2020.
He also has endorsement partnerships with Gatorade, Hanes, Upper Deck, and other companies.
Jordan acquired a minority investment in the Charlotte Bobcats in 2006, then he acquired majority ownership in 2010 for an estimated $180 million.
In 2019, he sold minority ownership in the Hornets, valuing the team at $1.5 billion.
Jordan was placed No. 1,001 on Forbes’ list of billionaires for 2020 last year, with a net worth of $2.1 billion.
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Michael Jordan’s net worth has dropped by $500 million
Jordan broke the $2 billion net worth barrier last year, cementing his position as the world’s richest athlete.
However, $500 million of his riches has inexplicably vanished.
Jordan’s net worth has plummeted to $1.6 billion as of March 2021, according to Forbes’ most recent wealth assessment.
There are other probable explanations for this drop, but the NBA losing money due to COVID-19 appears to be the most logical.
Because COVID-19 is still affecting the NBA, franchises have lost money this year as a result of fewer spectators attending games.
Some teams may lose hundreds of millions of dollars in 2021 as a result of their inability to fill their arenas this season.
Every season, the Hornets produce $240 million in income from fans, so losing a large portion of that figure must sting Jordan’s wallet.
Although Jordan has seen $500 million of his net worth evaporate into thin air, it’s most likely just a blip on the radar for a man whose name alone earns him six figures every year.
