Despite losing $500 million, Michael Jordan put $305 million on the line with help from Will Smith and Kevin Durant

Michael Jordan is a savvy businessman, and he’s not afraid to take risks with his money, even when he’s coming off of huge losses.

The Bulls legend built up his net worth well after his playing days. Although he was the highest-paid player in the league during his time, he made most of his money after his career was over.

From investing in the right businesses to owning the Charlotte Hornets, and of course, his Jordan brand which makes him about $150 million a year.

Jordan uses his money well too. He has a personal golf course which he spent a good deal of money on, and he’s a huge watch enthusiast, showing off a wide variety of big brands.

He had the richest contract in the NBA back then, worth $33 million a year. Adjusting for inflation, he would make $50 million a year right now which would be the highest figure in the league.

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Michael Jordan put his money on the line with Kevin Durant and Will Smith

In April, 2020, Michael Jordan had a $2.1 billion net worth according to Forbes. In 2021, his net worth was down $500 million to $1.6 billion with no apparent reason.

Many speculated that it was because Jordan had invested in Gamestop like everyone else, and when the stock crashed, he lost money too. However, Forbes never confirmed this rumor to be true, and for Jordan to have lost $500 million of Gamestop, he would have had to have invested a large amount of money which doesn’t seem probable.

Nevertheless, the Gamestop possibility still exists. Regardless of this loss though, Jordan wasn’t afraid to put his money on the line once more.

Him, Kevin Durant, and Will Smith teamed up for a $305 million investment in Dapper Labs. Dapper Labs, the founder of NBA Top Shot, obtained a $305 million funding round. Michael Jordan, Kevin Durant, Alex Caruso, and other NBA stars joined the venture as well as Will Smtih’s Dreamers VC.

The company has a valuation of $2.6 billion with that value set to increase. It looks like Jordan is doing well to bring his net worth back up to the level it once was at.

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