There is alot of shit being spread about micheal jordan taking losses on gamestop and the recent surge well, I decided to learn to read( just kidding got someone to read it for me) and read the article in full, as well as others and this one exemplifies the stupidity and click baited nonsense the media is hyping through to get more ad revenue through clicks( a tale as old as time)
"The past year saw Michael Jordan’s brand get another boost with the release of “The Last Dance,” but it appears the Bulls legend didn’t do so well financially. While his net worth remains an eye-popping $1.6 billion, according to Forbes, that’s a $500 million drop since the publication last reported his net worth in April 2020.
It’s possible that such a large decline is related to the biggest Wall Street story of the year: the GameStop stock saga.
Two years ago, Jordan — the majority owner of the Hornets since 2010 — sold a minority share of the Hornets to two investors. One of them was Gabe Plotkin, founder and chief investment officer of Melvin Capital, a hedge fund that required billions in additional cash after incurring major losses due to a short squeeze of GameStop stock by groups of retail investors.
Details of Jordan’s current business relationship with Plotkin and the other investor, Daniel Sundheim, aren’t publicly known, but his Airness said while announcing their deal in 2019 that their investment was “invaluable” as the Hornets “strive to compete with the best in the NBA.”
the one line is the most telling and essentially negates anything to actually do with it... the last one....
Details of Jordan’s current business relationship with Plotkin and the other investor, Daniel Sundheim, aren’t publicly known,
the only thing is known is that they became a minority owner.
Net worth is determined by retards considering Jordan is notoriously private with his finances. I cant imagine how much he holds in cash considering is a notorious gambler, in actual casinos and golf courses, and anything else, never heard of him with stonks until now.
and another thing, if you actually believed this was real.... if any of you watched the last dance, youd know that this motherfucker cant stand to lose a dollar little lone millions, so I would be scared shitless if you're betting against his airness.
Im long GME like the rest of the apes, but this whole costing Jordan millions thing is horse shit.