@@stokkejanraggio9091you Idiot, like those rich folks sell without a profit- MJ's profit from the Hornets is over $2.8 billion, up from his original $275 million investment...
Jordan bet against GameStop and lost. No telling if Jordan doubled down or tripled down and Gabe's hedge fund went bankrupt so his clients lost their money and he gained an NBA team and a few extra billion on the side. Jordan not owning an NBA team makes no sense. Unless we find out he is buying the bulls, he got caught up and shook out of ownership through bad investments and shady billionaires.
Jordan sucks as an owner the huge come up for what he paid and the fact he’s making more than what team was worth @ 1.7 billion, he might just have another play somewhere else or taking 500million dollar L on top of the team sucking might been enough for him to say you know what this ain’t for me, I can do other things I’m good @ ownership hasn’t been that the team only made the playoffs 3 times his entire time at helm and he still had owner ship in the franchise!
@@Jrfusion08man Jordan is a great basketball player but he dealing with a different level of corporate America. Jordan essentially is a high paid employee of Nike these mfers captains of industry and own companies that pay out millions to other people. I wouldn’t be surprised if they got over on him they not his true friends they are business associates.
This bullshit ya take anything on face value just because he said some valid points. If I make a investment and we lose on the investment how do I owe that much interest on 500,000 on a bad investment. You don’t make a bad investment at 500,000 and now I owe over what I invested I’ve never heard of that. Only thing he owe is 500,000 that homie didn’t come get now that’s turns into me having to sell my team FOH
@@Malumbrus No you don’t have to be a billionaire to know what it means to get comfortable and suddenly lose everything. You have to always keep grinding because you don’t know what’s next.
@@priztucker If you're a billionaire, you just live a reasonable life and you never have to worry about money again. When you buy super mansions, yachts, private jets, cars, professional sports teams, etc etc, then you have to keep grinding, especially if you're a gambler.
Someone teach this podcast that when you go short on a company you can have unlimited losses. If he had gone long for 500 million he would be limited to that 500 million. Has Jordans Chicago mansion sold yet?
They're all bleeding out from the Gamestop bet. The shorts haven't closed because Gamestop didn't and will not go out of business. There's an infinite amount of money to be lost on these bad bets.
Wall Street's got their dicks in everything. The start of this video sounded like they are shorting NBA teams, which wouldn't surprise me since the Sneeze happened, and much fuckery since.
@@g5162 I'm not going to say you're wrong, because at the end of the day none of us are privy to the kind of key information of business deals that happen behind closed doors, but his affiliation with a having exposure to Gamestop on the short side through the hedge fund Melvin Capital was mentioned back in 2021. I'm not gonna say that's fact, but I'd definitely say it can't be dismissed quickly. There's definitely at least some kind of credence to the claims, even if it's not as extreme as people make out
Again, I say that fast talking dude on the recording was being HELLA disrespectful. Playing that on the pod and laughing at it without hearing those condescending undertones is mind boggling. 😒
Who cares hes the greater in his field of ALL TIME a hero to generations of people and left his mark on the world. People love to tear down winners, to "take them down a peg" i guarantee you he doest even get on the internet enough to hear all these haters
They're not hating on him, just reporting facts. Pay attention to the bigger story, which is the GameStop short sellers being stuck in the position that lost MJ his $500 million in the first place.
@@Malumbrus plus nobody is buying his mansion in Chicago, it's been on the market for like ten years. That blackjack is no joke, it will take your soul.
Jordan has made over 1.8 Billion with a B from his Nike deal alone lmaooo. Joe gotta chill on the MJ hate. He played a clip from a random person who offered absolutely no proof, and Joe be the one asking whos "they" lol stop it Joe. You wont ever convince anybody that Bron is better than MJ with hate.
Jordans will be worth billions even after we are long gone. Wtf is Joe talking about. Hes a fraction to MJ’s billions. MJ doesnt want to be in charge of the franshise anymore. He doesnt have to. He can afford to sell the team.
The point is not Jordan been worth B's after he sold his team, wealthy people don't usually sell their sports franchises. They keep it and hand it down over generations ensuring wealth for the family, Ford family along with other NFL and NBA families been passing wealth down for generations. No one sells except "Absolutely Necessary", it's what we might term a "Jewish thing". The majority of black people won't understand and retort to "Jordan is still richer than us and will die wealthy". But that's not the point, Jay-Z tried teaching ya'll financial literacy in 44:4. He's trying to buy franchises and pass on wealth to his children children children, as should be. Even Jeff Bezos and Zuckerberg been trying to acquire sports franchises for a long time, at some point Elon Musk will try get one too, the Walton family got several, along with the biggest Capital Investment Fund owners. Big boys table baby.
He sold for 3b it was only worth 1.7 he was over paid, this adds on to whatever he has already not to mention how many ventures he’s into future plans , his kids are in the mix @nike and Jordan brand ,Let’s be real he’s a terrible owner and hasn’t gotten that team anywhere We forgetting Jordan doesn’t like losing and in owner ship he’s being known as a loser he could be realizing that’s not his strong suit
Jordan didn’t get “kicked out” he got bailed out. Ken Griffin is still under water and can’t have a household name putting his and Gabe’s situation on blast. I promise you we’ll all know Ken Griffin as well as we know Bernie Madoff in a year.
Even if this story is real (if) He took a 500 million dollar L and turn it to 3billion the team was only worth 1.7 billion couple weeks ago plotkin over paid Jordan because he lost Jordans money but they spinning the story as Jordan taking an L when he still has ownership in this team and we don’t know what other moves he making Joe has never given MJ any props, If any other member played this clip Joe would be like from who 🤦🏽♂️
Nah he took an L, he should be worth more. Most Jordan fans can't handle the fact: he's a degenerate gambler, shitty owner, and a trash businessman. He just happened to be the GOAT. Bet Lebron won't end up like this.
Funny thing is the risky bets havent been closed just covered the only reason kenny g bailed them out is because he is also in the shitty bet and him closing the positions means a snowball knocking them all out and shit going parabolic.. nobody closed anything we arent stuck with them.. they are stuck with us😈🤷🏾♂️
💯💯 brokers shutting off the buy button, FTDs, naked shorting, dark pools, basket swaps, DTCC committing international securities fraud…the list goes on and on. Over two years of research from individual investors worldwide with much of it unfolding as foretold. Jordan is the tippy tip of the iceberg. DRS your GME.
@@williamburney3166They said that when Michael Jackson passed, that he was actually in debt. He owned the Sony Music catalog. He owned the Beetles catalog. So how can he be in debt right? To keep it simple, his spending habits. He spending was out of this world according to reports. His friends in the Middle East bailed him out a lot of the times because they were his friends and huge fans. When MJ passed, he couldn’t spend anymore obviously. His estate was able to sell off certain assets and, a year after he passed, they were able to be in the black instead of the red. So if that MJ could have issues, the other MJ could too. No matter what he has.
Passing down generational wealth is paramount for the wealthy, it's very hard coming among the 1% of wealth in the world. They park their assets in Trust and have a family office manage and distribute accordingly down generations. MJ's biggest asset worth $3B's just sold, one less asset to print money. $300m-$400m is nothing compared to $3billion when shared between generations, and the sports franchises only ever appreciate in value and could have been worth over $6b-$10b over the next 2 generations of Jordan family.
Every assuming he has no plans and not mention the team was only worth 1.7 he got over paid and still has minority ownership in it , honestly he’s been such a shitty owner he probably realized he’s no good at it! But Joe will never prob Jordan this only reason he played this video!
People kill me with their comments of "those claims are coming from a nobody". The status of the individual(s) doesn't matter in the least; that's a distraction. What does matter is whether those remarks are an accurate and true reflection or not. Sheesh! Did Jordan (and others) make a bad bet that he/they are still paying for or not?! 😐
Bro are you serious???? LMFAO. Jordan didn't have 500 mill. Neither did plotkins. He still spend it tho in investements (on paper) it didn't work out but they needed to pay up. So other billionaire pays plotkins so plotkins pays jordon so jordon can pay of the bad invesments. But the billionaire needs his money. Jordon don't have it. Jordon then sells shares to the billionaire. Simple.
If you knew how shorts worked you wouldn't be saying that. Gabe shorted stocks "GME" and lost big. You can bet $500 million and lose way more then your original bet. When you place puts "shorting a stock" you can have infinite loses. If you place calls you can have infinite gains. Playing options is extremely risky. It's straight up gambling. Who knows how much Jordan actually lost.
Who cares he did it for 13 yrs without the white background or any background to help him do it… Mj paved a way for every other the black man to do something and in 13 yrs still isn’t another black majority owner … what more does this man have to do to earn respect???
I have seen this video that Joe is playing on his phone and I have also seen people debunk what the guy is saying I don’t believe none of it. The bottom line is Jordan made a huge profit on his investment. And people want to find ways to criticize it.
Exactly joe is bitch I don’t know what mike did to him but lately he been on bs time when bringing his name up they making it seem like Jordan is mfing David Ruffin gambling his home for money then it’s wild no proof from either of this niggas joe just seen sumn to not make mike look great n jumped on it he turned 275 into 3 billion liquid end of story n wildest part about all of it Jordan still owns like 20% his percentage is prob 10x’s as big as Jcole who supposedly put his money into bail mike out lol like listen to how crazy that shit sound
@@mrSnotyify when does he do this tho ? Usually someone makes a deal they round of applause then go into commentary , even if the story true MJ made money and got over paid for the team by Gabe team was only worth 1.7 he got 3.3b , Joe didn’t even say anything he just played the clip I’ve watched this show for years he only did this because he has dislike for MJ for whatever reason, he’ll look at the title of the video 😂 nasty as hell. Especially if he’s ending the convo with if this is true! No thoughts and prayers 👌🏽
@@PocketMr7901Ladray MJ might've very well got paid way over the fair value of the team. The snippet just points out that MJ put approx $500m into Gabe Plotkin's hedge fund, Melvin Capital, that ended up losing almost everything on shorting GameStop. Melvin Capital, at the time, got a loan from Ken Griffin's Citadel to stay afloat but eventually had to pay it back. Now Melvin Capital doesn't exist anymore. This is likely the reason MJ is selling the majority of his stake in the team. Even though he's still very wealthy, it's still really tough to take a $500m hit. Those $500m's was probably most of his liquid cash that wasn't locked up other illiquid assets like his team.
@@mrSnotyify I’m only saying it’s rare for this podcast to not at all big up a black making that type of money and only playing the negative part of it especially Joe but if you go back to The last dance he had nothing good to say about MJ then either
The owner of Nike, Phil Knight, is worth around $40 billion, Jordan is worth around $3 billion, and the majority of Jordan's worth is from the basketball team. I have an immense amount of respect for Michael Jordan, but he is not some financial wizard (pun intended). If Phil Knight is worth $40 bill, then Mike should be worth at least $10 bill from Nike/Jordan brand alone; he made that company.
@@sunstatesnipr1k759 Your response indicates that you did not fully comprehend what I said. At no point did I say that Jordan Brand did NOT sell. I actually said Michael Jordan MADE Nike!!! However, the owner of Nike, Phil Knight, is worth $40 billion and Jordan is worth $3 billion, and the majority of Jordan's worth is the Charlotte Hornets. You don't understand the financial imbalance in Jordan's Nike worth being under $1 billion while the owner of Nike is worth $40 billion? You don't understand or comprehend that imbalance? Come on.
You guys are all assuming all this is true. I think the word allegedly should have been used quite a bit in this entire segment just saying Oh and he's still a billionaire so where's the L? 🤷🏾♂️
Its a perfectly sensational story lol. The real truth is MJ paid roughly $300M for the team, said team is now worth $3B. At some point he sold off parts of ownership to friends & fam in anticipation of his & their financial windfall when team sold. Here we are team sold & MJ still has his yearly $250-$400M cash flow coming from nike IN PERPETUITY which he could have leveraged in repayment of his portion of the loss if the debt was truly called. Furthermore, if he gave $500M to invest the likelihood they lost all of it is 0.00% if they were investing on that financial level (billions). To sum it all up this is cap and an extreme over reach for web traffic.
Lol you just made up a scenario. With all the facts we have in front of oyr eyes and to the public this was a BAD investment that cost jordon the Hornets. I don't care what he makes yearly with nike but it AINT 400 mill. That means hr would be already BILLIONS up. Wich is not true. He spends also allot wich is fact. The likelyhood pf them losing all of it is 0%? Based of what? And even IF he didn't lose all if it he still has to give 500 mill back. If he made 400 mill a year he would have never needed plotkins.
People love sensational stories. Nothing about the theory Joe played makes sense. I don't think Jordan gave X number of Ms that turned into 500M to a friend to invest solely in gamestop. His advisors and common sense would have told him to get out before then. I also don't believe Jordan would ever let someone get one over on him. Have they heard about Jordan? He Mr. Petty and Mr. Competitor. He not going to let anyone "take" his team unless he wants to. He could have sold to 3 different people and still got 2B+, covered his debts and said F you to the people that screwed him. If Jordan did have a 500M debt, you know how easy it is for him to get a loan to cover that with his NIKE income and shares in NIKE serving as collateral? Could have easily brokered a deal. And lastly, according to his agent, Jordan was offered 9 figures for a speaking engagement not to long ago, if people don't think he couldn't make 500M next year with his name and likeness deals you don't understand business and the impact he has.
@@xxreyoxx smh what does that have to do wit the topic??? I’m old enough to remember people getting robbed and killed over “starter jackets” but NO ONE called out Starter for them high ass jackets at the time!! That had more to do wit BAD parenting not bad business!!
Mike lost the Hornets. Jay lost Tidal and Dusse. Oprah lost OWN. Diddy losing wit Ciroc & Revolt. Kanye lost his billionaire status. The black billionaires are poor fr.
He's still a billionaire and still in the black overall from those deals, he just lost his team and probably won't ever have another chance to own one in his lifetime. If this story is true he was forced to sell his billionaire status symbol, yea he could go out and buy a mega yacht or something but any billionaire can have one of those but there are only 30 NBA teams.
Honestly who cares what niggas on a podcast talking shit, who really don't know what they talking about. Here are the facts, he made 3 billion from the sale of the team that he paid $275 million for and still gets over $200-300 million every year from Nike for his 5% deal with Nike, just to have his name on some sneakers. and he still has a minority stake in the team, so he will continue to make money and let someone else worry about the headaches.
This dude is loosing it, go anywhere and take 5 steps in any direction you’ll see someone with Jordan’s on and it’s been like this for Thirty years…who u gonna trust ur eyes or phone call man!!!
I didn’t miss the point u did there pointing out how he’s a bad businessman and can’t hang with the big boys. Meanwhile he’s making a billion+ and is still the richest athlete of all times. Sill is a part owner small % but still if you wanna call him a bad owner, then I can agree with you but a bad businessman show me a more successful ex athlete!
Nobody cares about Michael Jordan’s business ventures. He took care of business in-between the 4 lines from 1984-1998. Jordan owning the Hornets is as meaningful to world history as Jordan playing for the Wizards. This is a non-story. LeBron James has shown again and again…LeBron James himself has proven over and over that MICHAEL JORDAN is the greatest basketball player of all-time. And LeBron is great, but after being swept in 3 different decades- 2007 by the Spurs, 2018 by the Warriors, and 2023 by the Nuggets, MISSING A DUNK in the open court by clumsily letting the basketball slip out of his hands on some Shaqtin’-A-Fool type ish and missing this dunk, not in Pre-Season or the Regular Season, or the Play-In or the 1st Round of the Playoffs, not in the 2nd Round of the NBA Playoffs, but LeBron James missed this dunk in Game 2 of the Western Conference Finals, 2 less world championships, 1 less Michael Jordan MVP Award, 2 less Finals MVPs, 9 less scoring titles, and LeBron wins 1 championship every 5 years compared to the guy in Chicago who won 2 championships every 5 years…I am saying that Michael Jordan is 2x better than LeBron James..if you disagree, then at least you cannot continue to pretend that LeBron James is better than Michael Jordan and you cannot continue the fantasy that LeBron James has had a better career than Michael Jordan. LeBron had the higher quantity longer career and Michael Jordan had the much higher quality greater career.
I’m sure if Jordan sees this discussion, he’s going to take it personally.
even if he doesnt see it that will be the case
@@user-vo5gn2up1c …..And lastly we remember, what will never erase.
The meme of Jordan, making a crybaby face😢
So.
Didn’t when he was a owner.
Flip wasn't talkin bout sharks when he said "great whites" 💀😭
That was a bar 😮💨😮💨😮💨😂
Barz
It’s not that he couldn’t keep up it’s the fact he has a serious gambling problem
Facto
y'all may want to check the kind of profit he just made here before sounding so silly
@@tellall23 Exactly smh
@@tellall23 well he didnt make a profit. Thats what the audio entails. maybe listen better before sounding silly.
@@stokkejanraggio9091you Idiot, like those rich folks sell without a profit- MJ's profit from the Hornets is over $2.8 billion, up from his original $275 million investment...
Jordan bet against GameStop and lost. No telling if Jordan doubled down or tripled down and Gabe's hedge fund went bankrupt so his clients lost their money and he gained an NBA team and a few extra billion on the side. Jordan not owning an NBA team makes no sense. Unless we find out he is buying the bulls, he got caught up and shook out of ownership through bad investments and shady billionaires.
Facto
Jordan sucks as an owner the huge come up for what he paid and the fact he’s making more than what team was worth @ 1.7 billion, he might just have another play somewhere else or taking 500million dollar L on top of the team sucking might been enough for him to say you know what this ain’t for me, I can do other things I’m good @ ownership hasn’t been that the team only made the playoffs 3 times his entire time at helm and he still had owner ship in the franchise!
Have no doubt this isn't accurate. You are out your mind if you think Jordan would let anyone get one over on him
@@Jrfusion08man Jordan is a great basketball player but he dealing with a different level of corporate America. Jordan essentially is a high paid employee of Nike these mfers captains of industry and own companies that pay out millions to other people. I wouldn’t be surprised if they got over on him they not his true friends they are business associates.
This bullshit ya take anything on face value just because he said some valid points. If I make a investment and we lose on the investment how do I owe that much interest on 500,000 on a bad investment. You don’t make a bad investment at 500,000 and now I owe over what I invested I’ve never heard of that. Only thing he owe is 500,000 that homie didn’t come get now that’s turns into me having to sell my team FOH
Lets be real Jordan should own 50% of Nike at least. He saved Nike ass.
jordan doesnt own any percentage of nike
@@bjvu9460 Jordan Brand is under Nike which is the same company. Jordan owns 5% of Jordan Brand (Nike)
@@geemoney1982Jordan is its own brand. They collab with nike time to time but it's not under nike
Netflix?
@@sincityraised702the jordan brand is absolutely under nike.
Gabe Plotkin should be in jail for real. Citadel and all those guys are criminals.
Ken Griffin, Steve Cohen, Jaime Dimon, Jeff Yass, Jerome Powell, Janet Yellen, Hester Pierce…all criminals & far from the only ones. DRS your GME.
At least someone gets it.
Imagine buying a team for 250 mil and selling it for 3 billion 🥴
and then saying he couldn’t keep up with billionaires lmao
@@pxny999 😂😮💨🤣
You gotta look at his portfolio before saying this, and just objectively looking it up he has made bad decisions for years.
@@pxny999he couldn’t that’s why he’s selling. You don’t listen well brother.
@@thefrostyvette876 you know nothing like i know nothing lmao
As a Charlotte native, the team was never worth what he paid.
You don’t know business 😂he 10x his money
Every NBA team is worth billions
That was wack and im a charlotte native ....Beatties Ford warlords salute
How tf you know 😂
@@user-vo5gn2up1c go outside
I wonder how many billions Jordan would have if he didn’t gamble so much throughout his career
You act like he always loses. He'd probably have less money.
@@ChrisDodges123yeah right
@ChrisDodges123 you must not know how casinos work
Does it matter? You maybe don’t gamble and you have how many? 💁🏾♂️😂💯
Thats none of your business!!!!!!!
This is why people don’t understand being rich means you now have to work twice as hard to stay rich. No amount of money is enough money.
It is if you're not a degenerate gambler who buys small cities to live in while flying around in private jets and what not.
@@Malumbrus No you don’t have to be a billionaire to know what it means to get comfortable and suddenly lose everything. You have to always keep grinding because you don’t know what’s next.
@@priztucker If you're a billionaire, you just live a reasonable life and you never have to worry about money again. When you buy super mansions, yachts, private jets, cars, professional sports teams, etc etc, then you have to keep grinding, especially if you're a gambler.
Someone teach this podcast that when you go short on a company you can have unlimited losses. If he had gone long for 500 million he would be limited to that 500 million. Has Jordans Chicago mansion sold yet?
They're all bleeding out from the Gamestop bet. The shorts haven't closed because Gamestop didn't and will not go out of business. There's an infinite amount of money to be lost on these bad bets.
Idiosyncratic risk. DRS your GME.
Fun Fact Michael Jordan lost 500 million trying to short GameStop
That is not a fact...just more internet BS
Wall Street's got their dicks in everything. The start of this video sounded like they are shorting NBA teams, which wouldn't surprise me since the Sneeze happened, and much fuckery since.
Fun fact no he didn’t. Stop repeating just what you hear. Name someone who’s lost 500 million in one short….. don’t worry I’ll wait
@@zanccarrdo do your research a simple google search will do wonder's I'll just sit here waiting on my apologies
@@g5162 I'm not going to say you're wrong, because at the end of the day none of us are privy to the kind of key information of business deals that happen behind closed doors, but his affiliation with a having exposure to Gamestop on the short side through the hedge fund Melvin Capital was mentioned back in 2021. I'm not gonna say that's fact, but I'd definitely say it can't be dismissed quickly. There's definitely at least some kind of credence to the claims, even if it's not as extreme as people make out
Once again gambling is still MJ’s kryptonite
This man's gambling addiction is through the roof, I learned my lesson with prize picks I dont like loosing
I see Knicks fans still hurt over how Jordan did them 😂😂
Jordan Was Force To Sell My Man Still Got That Gambling Problem😯🤔
Mike couldn’t play in this era he would be betting his own over/under before games.
Thnx for the research and clarity Joe.👍🏽 Context is everything.
Everybody goes quite when the business talk start
Jordan owned 95% of the Hornets
That guy in the clip was pocket watching so hard he sounded like he was having a anxiety attack.
Dude made 3 videos in one day then took it back in a comment but left the videos up
Again, I say that fast talking dude on the recording was being HELLA disrespectful. Playing that on the pod and laughing at it without hearing those condescending undertones is mind boggling. 😒
I’ve never seen Joe play something like this and not prop the deal or say congrats he does t like jordan at all !
Who cares hes the greater in his field of ALL TIME a hero to generations of people and left his mark on the world. People love to tear down winners, to "take them down a peg" i guarantee you he doest even get on the internet enough to hear all these haters
ya right, MJ went in to a deep depression when he found out folks were posting the cry face meme everywhere
They're not hating on him, just reporting facts. Pay attention to the bigger story, which is the GameStop short sellers being stuck in the position that lost MJ his $500 million in the first place.
@@Malumbrus source say MJ is flat broke, he blew most of his money playing blackjack
@@volcommerce Really?
@@Malumbrus plus nobody is buying his mansion in Chicago, it's been on the market for like ten years. That blackjack is no joke, it will take your soul.
Jordan has his own brand. Clothes, cologne, shoes, 2k deal... Jordan is worth everyone in that room 10 times over.
Why point that out ? lol everybody in that room richer than you. They didn’t even clown him
😂 Bro 100% did not watch the video. It’s the spicy captions that get people riled up
AND? Boy you sayin shit that has nothing to do with the convo they having.
@@jayelee7558 Your rap is pretty good. I personally wouldn't vouche. Ouch. Bed bugs out your couch. Lol
@@Thepinatamma lol how cute you went to my page and found my hobby 😂
ish shake his leg when he know something but he trying to say it without saying it lol
He should just DRS GME.
This will age like fine wine
Jordan has made over 1.8 Billion with a B from his Nike deal alone lmaooo. Joe gotta chill on the MJ hate. He played a clip from a random person who offered absolutely no proof, and Joe be the one asking whos "they" lol stop it Joe. You wont ever convince anybody that Bron is better than MJ with hate.
😆
Jordans will be worth billions even after we are long gone. Wtf is Joe talking about. Hes a fraction to MJ’s billions. MJ doesnt want to be in charge of the franshise anymore. He doesnt have to. He can afford to sell the team.
@@sekou111if jordon is worth billions why need 500 mill and sell the team? You dodo's not making any sense.
The point is not Jordan been worth B's after he sold his team, wealthy people don't usually sell their sports franchises. They keep it and hand it down over generations ensuring wealth for the family, Ford family along with other NFL and NBA families been passing wealth down for generations.
No one sells except "Absolutely Necessary", it's what we might term a "Jewish thing".
The majority of black people won't understand and retort to "Jordan is still richer than us and will die wealthy". But that's not the point, Jay-Z tried teaching ya'll financial literacy in 44:4. He's trying to buy franchises and pass on wealth to his children children children, as should be. Even Jeff Bezos and Zuckerberg been trying to acquire sports franchises for a long time, at some point Elon Musk will try get one too, the Walton family got several, along with the biggest Capital Investment Fund owners.
Big boys table baby.
He sold for 3b it was only worth 1.7 he was over paid, this adds on to whatever he has already not to mention how many ventures he’s into future plans , his kids are in the mix @nike and Jordan brand ,Let’s be real he’s a terrible owner and hasn’t gotten that team anywhere We forgetting Jordan doesn’t like losing and in owner ship he’s being known as a loser he could be realizing that’s not his strong suit
Their are levels to the GAME!!! Stop hating
MJ must have pissed Joe off lol
Denied him an autograph in '06
@@ChrisDodges123 thanks for the clarification…
Jordan didn’t get “kicked out” he got bailed out. Ken Griffin is still under water and can’t have a household name putting his and Gabe’s situation on blast. I promise you we’ll all know Ken Griffin as well as we know Bernie Madoff in a year.
Jordan had to play Joe in recent years. Cause he stay hating on him these days 😂
Joe asked jorden for a picture, he looked at him and laughed saying, you a grown man asking another grown man for a picture. Grow up
Is that tiktok analysis? 🤣🤣
Yes but Joe doesn’t like Jordan so he allowed it in this instance!
Even if this story is real (if) He took a 500 million dollar L and turn it to 3billion the team was only worth 1.7 billion couple weeks ago plotkin over paid Jordan because he lost Jordans money but they spinning the story as Jordan taking an L when he still has ownership in this team and we don’t know what other moves he making Joe has never given MJ any props, If any other member played this clip Joe would be like from who 🤦🏽♂️
Nah he took an L, he should be worth more. Most Jordan fans can't handle the fact: he's a degenerate gambler, shitty owner, and a trash businessman. He just happened to be the GOAT. Bet Lebron won't end up like this.
MJ wouldn’t sign Joes jersey back in the day I swear 😂
@@TheRealMichaelP Joe took
It personally 😂
@@PocketMr7901Ladray we gotta remember Joe was on Angel Dust during MJ’s heyday
@@TheRealMichaelP the baggie had a jumpman logo, naw I fw Joe but his distain for jordan is obvious
Where did that clip Joe played about Jordan being fleeced? Link please!
It’s on a UA-cam channel with less views than this video and it been up a week 😂
Funny thing is the risky bets havent been closed just covered the only reason kenny g bailed them out is because he is also in the shitty bet and him closing the positions means a snowball knocking them all out and shit going parabolic.. nobody closed anything we arent stuck with them.. they are stuck with us😈🤷🏾♂️
Amen!!! DRS GME!
💯💯 brokers shutting off the buy button, FTDs, naked shorting, dark pools, basket swaps, DTCC committing international securities fraud…the list goes on and on.
Over two years of research from individual investors worldwide with much of it unfolding as foretold. Jordan is the tippy tip of the iceberg. DRS your GME.
Michael Jordan should own his own sports drinks
I see now why Scottie Pippen been talking out his neck about Mike!!! 😅😂
Jordan networth is 2 Billion dollars and that's more then 99 percent of us will ever see , so I don't think he's hurting without the Hornets 😂
It ain’t about hurting. It’s about getting played and fleeced out your shit by the same person who put you there.
@@mustafashaqur9694 so what when you got 2 Billion in your account it's impossible to take a loss
@@williamburney3166They said that when Michael Jackson passed, that he was actually in debt. He owned the Sony Music catalog. He owned the Beetles catalog. So how can he be in debt right? To keep it simple, his spending habits. He spending was out of this world according to reports. His friends in the Middle East bailed him out a lot of the times because they were his friends and huge fans. When MJ passed, he couldn’t spend anymore obviously. His estate was able to sell off certain assets and, a year after he passed, they were able to be in the black instead of the red.
So if that MJ could have issues, the other MJ could too. No matter what he has.
@@itsharryhagen you sound like a jealous hater #23 🐐 🤣😂🤣 you probably a Lebum fan
He’s a Billionaire what are we really talking about here.
This happens more than this incident people may not know about
I think ppl don’t understand what really happened. Jordan got robbed legally that is what the guy is trying to tell everyone he fell for the con.
Shout out Gamestop!
Power to the Players
Them hedge funds lost Mike billions
So him Paying 300 million and selling for 3 billion is him losing the team
Passing down generational wealth is paramount for the wealthy, it's very hard coming among the 1% of wealth in the world.
They park their assets in Trust and have a family office manage and distribute accordingly down generations. MJ's biggest asset worth $3B's just sold, one less asset to print money.
$300m-$400m is nothing compared to $3billion when shared between generations, and the sports franchises only ever appreciate in value and could have been worth over $6b-$10b over the next 2 generations of Jordan family.
Every assuming he has no plans and not mention the team was only worth 1.7 he got over paid and still has minority ownership in it , honestly he’s been such a shitty owner he probably realized he’s no good at it! But Joe will never prob Jordan this only reason he played this video!
@@ochomunna270 MJ don't seem like the type to care about generation wealth.
Michael Jordan weakness is betting on himself.
People kill me with their comments of "those claims are coming from a nobody". The status of the individual(s) doesn't matter in the least; that's a distraction. What does matter is whether those remarks are an accurate and true reflection or not. Sheesh! Did Jordan (and others) make a bad bet that he/they are still paying for or not?! 😐
So they added no commentary or substance..just played a clip of someone else breaking the subject down and said, “oh thats crazy, hes still rich tho”
To be fair Gabe Plotkin’s and Ken Griffin’s crime is one hell of a rabbit hole…
random UA-cam video taken as gospel about MJ personal finances
What clip was that from?
Hole in the theory. If Plotkin invested 500 mill of Jordan's money why would Jordan owe Plotkin? Selling the Hornets to pay the debt makes no sense.
Common sense not so common!!
Bro are you serious???? LMFAO. Jordan didn't have 500 mill. Neither did plotkins. He still spend it tho in investements (on paper) it didn't work out but they needed to pay up. So other billionaire pays plotkins so plotkins pays jordon so jordon can pay of the bad invesments. But the billionaire needs his money. Jordon don't have it. Jordon then sells shares to the billionaire. Simple.
If you knew how shorts worked you wouldn't be saying that. Gabe shorted stocks "GME" and lost big. You can bet $500 million and lose way more then your original bet. When you place puts "shorting a stock" you can have infinite loses. If you place calls you can have infinite gains. Playing options is extremely risky. It's straight up gambling. Who knows how much Jordan actually lost.
It makes sense but Even if this whole mess is true Means plotkin over paid MJ for the team because he owes Jordan !
@@IxAMxHAVOKxYT the theory isn't that Jordan bet 500M it's that his bet rose to 500M.
Who cares he did it for 13 yrs without the white background or any background to help him do it… Mj paved a way for every other the black man to do something and in 13 yrs still isn’t another black majority owner … what more does this man have to do to earn respect???
I have seen this video that Joe is playing on his phone and I have also seen people debunk what the guy is saying I don’t believe none of it. The bottom line is Jordan made a huge profit on his investment. And people want to find ways to criticize it.
Exactly joe is bitch I don’t know what mike did to him but lately he been on bs time when bringing his name up they making it seem like Jordan is mfing David Ruffin gambling his home for money then it’s wild no proof from either of this niggas joe just seen sumn to not make mike look great n jumped on it he turned 275 into 3 billion liquid end of story n wildest part about all of it Jordan still owns like 20% his percentage is prob 10x’s as big as Jcole who supposedly put his money into bail mike out lol like listen to how crazy that shit sound
This seems like hate😂 if this was Jay-Z they would’ve been celebrating 😂😂😂
Notice how there was no round of applause instead Joe went and found hate (man don’t like Jordan @ all)😂😂😂
Joe wasn't hating. He dug a little deeper and found out what's really going on with MJ and Gabe Plotkin.
@@mrSnotyify when does he do this tho ? Usually someone makes a deal they round of applause then go into commentary , even if the story true MJ made money and got over paid for the team by Gabe team was only worth 1.7 he got 3.3b , Joe didn’t even say anything he just played the clip I’ve watched this show for years he only did this because he has dislike for MJ for whatever reason, he’ll look at the title of the video 😂 nasty as hell. Especially if he’s ending the convo with if this is true! No thoughts and prayers 👌🏽
@@PocketMr7901Ladray MJ might've very well got paid way over the fair value of the team. The snippet just points out that MJ put approx $500m into Gabe Plotkin's hedge fund, Melvin Capital, that ended up losing almost everything on shorting GameStop. Melvin Capital, at the time, got a loan from Ken Griffin's Citadel to stay afloat but eventually had to pay it back. Now Melvin Capital doesn't exist anymore.
This is likely the reason MJ is selling the majority of his stake in the team. Even though he's still very wealthy, it's still really tough to take a $500m hit. Those $500m's was probably most of his liquid cash that wasn't locked up other illiquid assets like his team.
@@mrSnotyify I’m only saying it’s rare for this podcast to not at all big up a black making that type of money and only playing the negative part of it especially Joe but if you go back to
The last dance he had nothing good to say about MJ then either
Stop crying bro. MJ isnt gonna fuck you
The owner of Nike, Phil Knight, is worth around $40 billion, Jordan is worth around $3 billion, and the majority of Jordan's worth is from the basketball team. I have an immense amount of respect for Michael Jordan, but he is not some financial wizard (pun intended). If Phil Knight is worth $40 bill, then Mike should be worth at least $10 bill from Nike/Jordan brand alone; he made that company.
Facts Jordan brand does numbers
@@sunstatesnipr1k759 Your response indicates that you did not fully comprehend what I said. At no point did I say that Jordan Brand did NOT sell. I actually said Michael Jordan MADE Nike!!! However, the owner of Nike, Phil Knight, is worth $40 billion and Jordan is worth $3 billion, and the majority of Jordan's worth is the Charlotte Hornets. You don't understand the financial imbalance in Jordan's Nike worth being under $1 billion while the owner of Nike is worth $40 billion? You don't understand or comprehend that imbalance? Come on.
@@Markdizzledazzle100you're arguing with yourself. He agreed with you when he said "Facts", my boy.
@@Markdizzledazzle100 Jordan signed a contract agreeing to that percentage split. There’s no imbalance. That’s just the deal MJ agreed to lol
@gee that split was groundbreaking when he signed it.
You guys are all assuming all this is true. I think the word allegedly should have been used quite a bit in this entire segment just saying
Oh and he's still a billionaire so where's the L? 🤷🏾♂️
Lebron would never
Jordan got $3.3B. Drop the mic.
Jay-Z acted like he owned more. Be quiet Ice lol
Forbes also only evaluates off what is given/ public
Joe should interview Charles Barkley about this issue. Stir the pot my G.
Its a perfectly sensational story lol. The real truth is MJ paid roughly $300M for the team, said team is now worth $3B. At some point he sold off parts of ownership to friends & fam in anticipation of his & their financial windfall when team sold. Here we are team sold & MJ still has his yearly $250-$400M cash flow coming from nike IN PERPETUITY which he could have leveraged in repayment of his portion of the loss if the debt was truly called. Furthermore, if he gave $500M to invest the likelihood they lost all of it is 0.00% if they were investing on that financial level (billions). To sum it all up this is cap and an extreme over reach for web traffic.
Lol you just made up a scenario. With all the facts we have in front of oyr eyes and to the public this was a BAD investment that cost jordon the Hornets. I don't care what he makes yearly with nike but it AINT 400 mill. That means hr would be already BILLIONS up. Wich is not true. He spends also allot wich is fact. The likelyhood pf them losing all of it is 0%? Based of what? And even IF he didn't lose all if it he still has to give 500 mill back. If he made 400 mill a year he would have never needed plotkins.
Nobody talking bout the extra 1.3 million Jordan got for the team and he was over paid for it !
People love sensational stories. Nothing about the theory Joe played makes sense. I don't think Jordan gave X number of Ms that turned into 500M to a friend to invest solely in gamestop. His advisors and common sense would have told him to get out before then. I also don't believe Jordan would ever let someone get one over on him. Have they heard about Jordan? He Mr. Petty and Mr. Competitor. He not going to let anyone "take" his team unless he wants to. He could have sold to 3 different people and still got 2B+, covered his debts and said F you to the people that screwed him.
If Jordan did have a 500M debt, you know how easy it is for him to get a loan to cover that with his NIKE income and shares in NIKE serving as collateral? Could have easily brokered a deal. And lastly, according to his agent, Jordan was offered 9 figures for a speaking engagement not to long ago, if people don't think he couldn't make 500M next year with his name and likeness deals you don't understand business and the impact he has.
@@Jrfusion08 tearing down jordan is a thing now plus it’s instant click bait 👌🏽
This title is nasty as hell😂
Ish always had a convo🤣🤣🤣
Flip look like a child in that stool 🤦🏽♂️
ice got them sauconys on
Finessed MJ something crazy
The guy’s math makes no sense
Michael still and always will have a gambling addiction it’s sad
Joe always trying to take a negative stance lol
So we now painting Jordan as ah “bad business man” smh!!! OK 👍🏾
He is.. he’s been the worst owner / GM since the Wizards days
And NO NBA team is operating in the RED!!! Meaning they ALL make ah profit!!! Good owners and Bad owners MAKE MONEY in the NBA!!
U also forget people callin em out for being quiet about kids being killed over his shoes? I aint forget that either.
@@xxreyoxx smh what does that have to do wit the topic??? I’m old enough to remember people getting robbed and killed over “starter jackets” but NO ONE called out Starter for them high ass jackets at the time!! That had more to do wit BAD parenting not bad business!!
@@tevshakir9359 And a degenerate gambler.
Some random guy on the internet who has access to Jordan's finances said Jordan lost 500million gambling on gamestop so it must be true.
i heard they said 2 billionaire got together and scam Jordan out his team through stocks and gambling don't know how true that is
Where did you hear this from? Post the link 🧐
@@tyinkwell4731 well i posted this before i even played the video and the video Joe Budden played was the video i heard it from
Micheal Jordan the “token”, was “never” in the game! He built wealth (not money) for the gamers, another word for his “masters”.
Everyone concerned about other people's pockets. Smfh
This reaction to random news cycle and content creators model is Anti Black. Too dicey and negative.
Wait, he lost his team gambling?????
"my name is my name."
Nike fleeced Jordan.
Ricoknows made it on the JBP
Billionaires are more like Orcas 🐬 …they eat the sharks 🦈
Tricked mike out his share
he still won
Bobby Axelrod done finessed Mj smh 🤦🏾♂️
Mike lost the Hornets.
Jay lost Tidal and Dusse.
Oprah lost OWN.
Diddy losing wit Ciroc & Revolt.
Kanye lost his billionaire status.
The black billionaires are poor fr.
GameStop fixes this
I MUST BE THE NEW CEO OF FENTY BEAUTY, now let's talk about my friend rihanna
Jordan is still a billionaire tho right?
Lmao yes. And he’s generated about $1 billion alone from his sneakers
He's still a billionaire and still in the black overall from those deals, he just lost his team and probably won't ever have another chance to own one in his lifetime.
If this story is true he was forced to sell his billionaire status symbol, yea he could go out and buy a mega yacht or something but any billionaire can have one of those but there are only 30 NBA teams.
The Culture God just got embarrassed in plain sight.
I wanted to see the reaction the Flip: "The Great Whites"
Jordan is still a owner of the team. Hes a minority owner now.
Honestly who cares what niggas on a podcast talking shit, who really don't know what they talking about. Here are the facts, he made 3 billion from the sale of the team that he paid $275 million for and still gets over $200-300 million every year from Nike for his 5% deal with Nike, just to have his name on some sneakers. and he still has a minority stake in the team, so he will continue to make money and let someone else worry about the headaches.
This dude is loosing it, go anywhere and take 5 steps in any direction you’ll see someone with Jordan’s on and it’s been like this for Thirty years…who u gonna trust ur eyes or phone call man!!!
You’re wildly missing the point
I didn’t miss the point u did there pointing out how he’s a bad businessman and can’t hang with the big boys. Meanwhile he’s making a billion+ and is still the richest athlete of all times. Sill is a part owner small % but still if you wanna call him a bad owner, then I can agree with you but a bad businessman show me a more successful ex athlete!
What’s that joe is playing?
Bro Joe Be Haten For No Reason
S/O TO RICOKNOWS
Lebron get ownership and has one smooth year that goat convo gon go diff
the only shot lebron has is to make the convo/debate as less about actual basketball as possible. jordan will always the the goat of basketball...
Got em... that's what he gets😂😂😂😂😂
So homeboy spent 7 billion for a team Jordan paid 180 million for and somehow they payed Jordan 😂😂😂😂
Yall heard how excited that white man was saying Jordan lost a seat at the table with the white men. That's shit sound crazy
Those are the problems I want.
Nobody cares about Michael Jordan’s business ventures. He took care of business in-between the 4 lines from 1984-1998. Jordan owning the Hornets is as meaningful to world history as Jordan playing for the Wizards. This is a non-story. LeBron James has shown again and again…LeBron James himself has proven over and over that MICHAEL JORDAN is the greatest basketball player of all-time. And LeBron is great, but after being swept in 3 different decades- 2007 by the Spurs, 2018 by the Warriors, and 2023 by the Nuggets, MISSING A DUNK in the open court by clumsily letting the basketball slip out of his hands on some Shaqtin’-A-Fool type ish and missing this dunk, not in Pre-Season or the Regular Season, or the Play-In or the 1st Round of the Playoffs, not in the 2nd Round of the NBA Playoffs, but LeBron James missed this dunk in Game 2 of the Western Conference Finals, 2 less world championships, 1 less Michael Jordan MVP Award, 2 less Finals MVPs, 9 less scoring titles, and LeBron wins 1 championship every 5 years compared to the guy in Chicago who won 2 championships every 5 years…I am saying that Michael Jordan is 2x better than LeBron James..if you disagree, then at least you cannot continue to pretend that LeBron James is better than Michael Jordan and you cannot continue the fantasy that LeBron James has had a better career than Michael Jordan. LeBron had the higher quantity longer career and Michael Jordan had the much higher quality greater career.
MJ is two times better than LBJ based on team accomplishments? You jordan fanboys never quit
Bro this about Jordan losing a team, why you bringing Lebron up 😂😂?
Like this man woke up with bron on his mind
What a shame that you discounted his Wizard years and you call yourself a fan!! More like a band wagon fan.
Jordan is the GOAT. Lebron had every attribute to be the GOAT but lacked killer instinct.
Jordan has never won ANYTHING without Pippen.