18 Days After the $3,000,000,000 Hornets’ Sale, Billionaire Michael Jordan Alongside Kevin Durant Faces the Dark Side of the Investment World

Chicago Bulls legend Michael Jordan is one of the most successful entrepreneurs in the NBA world. He has imprinted his footprint on many successful businesses in the last three decades. Notably, Jordan recently converted a $275 million investment from 2010 into a $2 billion return after selling his stake in the Charlotte Hornets franchise. Despite his exploits in the business world, MJ, along with Phoenix Suns star Kevin Durant and other sports stars, recently faced a backlash from their recent investment. 

NBA stars bag a lot of money from their salary, which leaves them with few other options other than investing in businesses. Even though several stars spend their cash on luxury cars and mansions, they have investments placed in the right spot. However, on some occasions, the investments won’t go right and end up on the downside. 

Michael Jordan, Kevin Durant and others fall short in a 2020 venture

Michael Jordan became the first billionaire in the NBA world after his retirement. The legend’s deal with Nike and other investments played a major role in achieving this feat. Even after tasting much success in the investment world, His Airness fell short in his 2020 investment alongside Kevin Durant and others.

MJ & Co invested in an app named Buzzer in 2020, targeting the Gen Z crowd. The app focused on streaming certain moments from a live game for a small price. However, even after three years, the business couldn’t find the traction that it had intended to achieve. The company said in a tweet, “With a heavy heart, we are formally winding down our operations,” on June 30. 

In 2020, the company raised an investment of $44 million from NBA stars and various other sports stars. 

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On the other hand, MJ’s recent sale of his Hornets‘ share has fetched him close to $2 billion.

MJ wins big despite a slip in his investment

Ever since Jordan bought the majority stake of the Charlotte franchise in 2010, the team has had a poor run in the league. While analysts and fans criticized MJ for his poor choices and management, he shut off the critics after selling the franchise for a whopping $3 billion and bagging $2 billion to go into his pocket. Currently, the Bulls legend holds a minority ownership in the franchise and might have some control over the team’s front office. 

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Michael Jordan has built an empire only through his basketball career. Even though he slipped a few times in the past, he always came back stronger. What are your thoughts on the post-baller businessman personality? Share your views in the comments!