Michael Jordan had to part with $1.1 million from his $2.1 billion network due to a real estate crash
Michael Jordan was a great basketball player, maybe the greatest of all time, and he might be an even better businessman. However, he has had some mishaps with real estate in the past.
The Bulls legend built his net worth well after his playing days. Although he was the highest paid player in the league in his day, he earned most of his money after his career ended.
From investing in the right companies to owning the Charlotte Hornets, and of course, his Jordan brand which earns him around $150 million a year.
Jordan uses his money well too. He has a personal golf course that he has spent a lot of money on, and he is a huge watch enthusiast, featuring a wide variety of top brands.
It has several high-level assets, including some major properties. However, all this did not lead to resounding successes.
Inside Michael Jordan’s $14.9 million Chicago mansion: https://t.co/nKxrcHB3gO pic.twitter.com/Uu9jRJeiYj
— ForbesLife (@ForbesLife) July 4, 2020
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Michael Jordan lost $1.1 million on his unsold mansion
Jordan spent his money lavishly, including buying a mansion in Highland Park, Illinois. It is a massive mansion, spanning 32,700 square feet.
However, the mansion might be so decorated that the Bulls legend couldn’t sell it. He listed the mansion for $29 million in 2012, but he still hasn’t sold it.
Jordan has had to lower the price of the mansion every year since he first put it on the market. It is now listed at $14.85 million. The NBA GOAT also had to pay property taxes.
Along with the amount he had to pay in property taxes, estimates indicate that Jordan paid around $1.1 million. In 2020, the tax bill itself was $130,000.
Why hasn’t the mansion been sold yet? Well, its high price is certainly one of the reasons. Additionally, Jordan customized the mansion to suit his needs. Along with this, Jordan’s mansion is located right next to a train track.
Michael Jordan’s Bulls-era Illinois mansion still won’t find a buyer in 9 years https://t.co/5QsZ4dUwRB pic.twitter.com/iLU1iNJgAw
— New York Post (@nypost) March 22, 2021
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