Michael Jordan Sees Major Drop in the List of World’s Richest People, With a $1.6B Net Worth

Michael Jordan is one of the biggest success stories in the world, as he has found great success in what he has done. During his playing career, Jordan established himself as one of the best to ever take the court. After multiple retirements, Jordan ventured into a very successful business career. However, recently, his net worth took a significant hit, causing his rank among the richest people to drop.

Michael Jordan falls on Rich List

Forbes released their annual list of the richest people in the world. The list takes a look at several thousand people who have amassed great wealth through their various ventures. Michael Jordan ranked 1931 on the list, with a net worth of $1.6 billion. This is a significant drop from last year, where his net worth of $2.1 billion secured him at 1001 of the list. In the last year, Jordan’s net worth fell by almost $500 million, and his position on the list fell by almost 1000 spots.

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There isn’t a clear reason why Jordan’s net worth fell so greatly in the last year. However, many have assumed that the financial constraints of the global pandemic hurt his brand. The pandemic also caused financial losses for several organizations of the world and caused a significant recession.

Jordan still one of the biggest brands in the world

Regardless of the financial hit, Jordan still remains one of the most valuable brands in the world. His shoes are still some of the hottest in the market. His NBA franchise, the Charlotte Hornets, have found great success this season. LaMelo Ball has been a star find for the Hornets and has brought back genuine excitement to the franchise.

But Jordan will be unfazed by this loss. He runs one of the biggest shoe brands in the world and endorses several sports entities globally. Whether it be popular football team Paris Saint Germain, or athletes in the NBA like Zion Williamson, Jordan’s fingerprints are still ever present in the world of sports.

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Will Michael Jordan increase his net worth next year? Prior to 2020, Jordan’s value had been increasing on a gradual basis. And now, his brand is one of the biggest in the world. So Jordan will be looking to make further strides with his investments.