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

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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Post Edited By: Ashish Priyadarshi
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About the author

Ashish Priyadarshi

Ashish Priyadarshi is The SportsRush's content manager and editor. Ashish freelanced for 1 year in the NFL division before taking on an editorial role in the company. He then tacked on managing content while adding on a writing role in the NBA division. Ashish has been closely following the NFL and NBA since the 2012 season when the Patriots lost the Super Bowl and Derrick Rose was at the height of his powers. Since then, Ashish has focused on honing his knowledge for both leagues in, even writing crossover pieces. In his free time, Ashish is an avid basketball player, he loves to watch movies and TV shows, immersing himself in the cinematic world. Ashish studies computer science and data science at the University of Wisconsin-Madison and would love to mesh his love for sports with his technical skills.

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