How Michael Jordan Lost $500 Million During COVID-19 Pandemic
The global COVID-19 pandemic has affected most people negatively, including Michael Jordan, who has lost in the region of 500 million dollars.
The former Chicago Bulls star was pushing for a spot in the top 1000 of Forbes’ richest list in April 2020 and became the athlete with the biggest income of all time, largely thanks to his dealings with Nike.
The Netflix documentary ‘The Last Dance’ also brought Jordan back to the forefront of people’s minds and introduced a new generation of fans to his legend.
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.
The details of these losses have not been revealed but are believed to be related to his investments outside the world of basketball.
Jordan, a majority owner of the Charlotte Hornets, ‘only’ earned 93.8 million dollars in his 16-year playing career in the NBA, but his fortune really took off after his retirement.
His relationship with Nike has always been particularly lucrative and he now owns his own division of the company, the Jordan Brand, which nets him around 100 million dollars per year in royalties.
The Brand’s iconic Jumpman logo now appears on the Statement jerseys of all NBA teams.
