Michael Jordan Lost $500 Million From His Net Worth

The past year saw Michael Jordan back in the spotlight with the release of the ESPN documentary “The Last Dance,” but it appears the Bulls legend didn’t do so well financially. While his net worth remains an eye-popping $1.6 billion, according to Forbes, that’s a $500 million drop since the publication last reported his net worth in April 2020.

However, the magazine did not specify if the losses would be due to his sports brand, investments in the stock market or the basketball team he presides over. Charlotte Hornets. The Covid-19 pandemic has hit the NBA league hard with fan attendance virtually zero in 2020 and the league played in a bubble atmosphere in the ESPN facilities in Florida

Jordan, 58, initially built his wealth as an NBA superstar and one of the most successful brand endorsers ever. His purchase of a majority stake in the Hornets proved to be a shrewd investment as the value of NBA franchises surged over the last decade.

As of March 2015, Jordan was worth $1 billion, which rose to $1.8 billion by March 2019, per Forbes. He continued trending up to his high of $2.1 billion in April 2020 before taking losses the past year.