Michael Jordan is not just one of the greatest athletes to ever live. He’s also the richest.
Michael Jordan became the first sportsperson to reach the billion-dollar net worth figure earlier in the 2010s. Despite being 18 years away from his final professional game, Jordan sneakers remain the most in-demand sneakers on the planet.
However, according to Forbes once again, Jordan's fortune has fallen almost 24 percent, from 2.1 billion dollars to 1.6 billion dollars during the COVID-19 pandemic.
There are a few possible reasons for this dip, but the NBA losing money due to COVID-19 seems like the most logical one.
Because COVID-19 is still affecting the NBA, franchises have been bleeding money this year due to a lack of fans attending games. Some teams will end up losing hundreds of millions of dollars in 2021 because they can’t fill their arenas this season. The Hornets generate $240 million in revenue from fans every season, so losing a big chunk of that sum is surely hurting Jordan’s pockets.
Besides the pandemic, the Gamestop stock has been a vital factor in Jordan’s wealth reduction. MJ’s Hornets co-owners went into a debt running into the tens of billions of dollars because they’d taken a short position on this stock.
It was reported even at the time that MJ’s personal wealth might be tied to this whole phenomenon. Given the success of ‘The Last Dance’, sales of the Jordan brand had skyrocketed in mid-2021. But even that has failed to prop up MJ’s net worth.