Forbes Update Reveals Michael Jordan Has Taken a Major Hit to His Net Worth in 2021

In his glorious playing career and then in the noteworthy life as a team owner, Michael Jordan has pocketed huge money. In fact, a major chunk of his monetary accumulations has come from off-the-court business deals. The former Chicago Bulls champion is just unstoppable when it comes to selling his brand equity to where it counts the best.

Studying MJ’s business moves and his everlasting popularity, one would assume his net worth can only pick one direction, upwards. But a recent update from a giant media house has hinted otherwise for the NBA Hall of Famer. 

Has Michael Jordan lost his net worth?

Last year, in July 2020, exactly when the world was recovering from lockdown scares, Michael Jordan was in the news for two major achievements. One, his documentary The Last Dance had tasted extraordinary success. Two, Forbes had released his net worth figures that had etched his name in history as the first-ever billion-dollar athlete in the world.

But his net worth that was an estimated $2.1 Billion last year has now plummeted to $1.6 Billion as per Forbes’ fresh update.

Now, that is a sharp decline of 23.8%, which is not a small percentage by any means. While the reason behind this decrement is unclear, it must be because of something unrelated to basketball that caused this temporary damage to his valuation. With stars like LeBron James making a sizeable leap in their financial portfolio, a competitive MJ would not want to see his name taking such hits.

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What has been the graph for MJ’s earnings over the years?

Air Jordan netted just $90 million in his playing career, something that the top stars of today make in two to three years. However, the hidden goldmine of his bulging earnings remained the other deals. His Nike deal that began with $500000 per year in 1984, gave him a whopping $3.14 Billion in earnings in 2019. 

Looking back, the six-time NBA Champion entered the three comma figure in 2014 and since then has only grown his fortune. In 2017, he was $1.2 Billion strong, which grew to $1.9 Billion in 2019 and close to $2.1 Billion in 2020. Hence, it is surprising how the trend has dipped in 2021, when all his investments, including the one in Hornets, have given him profit.

Can you take a guess what could have led to this downturn? Help us know in the comments.