Michael Jordan's Mansion- FIRE SALE PRICE! (Real Estate Porn)

[Mr Anabolic]

lol.....Michael Jordan is not having any financial trouble....lol....only on Getbig


Michael has made millions upon millions, thanks to the benefits of child labor laws in Korea...What dumb ass Hebrew in America hasn't yet bought the latest Air Jordan shoes?

Cost of shoe is probably 4 dollars in Chink city and sold in the U.S. for $200.....

50% drop in the asking price?  He's definitely a motivated seller.

[Al Doggity]

50% drop in the asking price?  He's definitely a motivated seller.

He hasn't lived there for 5 years and has several other homes. He has a $15 mansion in Florida, A $4 million place in North Carolina,a $3 million condo in Charlotte, a multi-million dollar place in Tribeca and a ranch in Utah.

On top of that, aside from the never ending Nike money and endorsement deals, he's majority owner of the Charlotte Bobcats. There's no way the guy is having money problems. He just wants to get rid of that house. 

[WoogsRaven]

He hasn't lived there for 5 years and has several other homes. He has a $15 mansion in Florida, A $4 million place in North Carolina,a $3 million condo in Charlotte, a multi-million dollar place in Tribeca and a ranch in Utah.

On top of that, aside from the never ending Nike money and endorsement deals, he's majority owner of the Charlotte Bobcats. There's no way the guy is having money problems. He just wants to get rid of that house. 

MJ is piss rich......all day and twice on sunday

[Pete Nice]

MJ is a billionaire as of 2015

[240 is Back]

MJ is a billionaire as of 2015

MJ is now eligible to join getbig.com.   A proud day for basketball players.

[Earl1972]

if you can afford that you wouldn't choose to live in chicago

he doesn't work there any more so he has no use for the house, you guys need to pay attention to other sports aside from bodybuilding if you think he needs money, he still makes more than every athlete aside from guys like floyd mayweather


E

[Kwon_2]

I idolize Jordan,

Mudshark much?

Only area that was great in that house was the weightroom, as there probably were no mudshark sins committed there.

[2Thick]

Tyson was supposedly worth $400 mil or so at one point many years ago. He hasn't been doing so well in recent years.

These athlete and entertainer types have a very hard time holding on to what they make. Even if they're NOT blatantly ripped off, they don't often manage their money very well.

I hope for his sake that he has held onto most of what he's made after the tax man and his advisors, managers, lawyers, etc get their cuts, and has invested and reinvested wisely.

Earning a billion in revenues over the course of your career, then having the tax man and everybody else take a good 50-60% of that total, then of course spending at least a little on things that have no value or depreciate in value is NOT the same as having a $1 billion net worth.

If he's invested wisely and hasn't gambled and blown much away, perhaps he is worth a billion like he says. But without seeing what he actually has and what (if anything) he owes, you just have to take someone's word for it.

[BB]

 I wonder what the real estate tax is on this monstrosity.  He seems desperate to sell it, he's probably having some financial trouble.  

$180,000 or so, depending on the year -


http://www.zillow.com/homedetails/2700-Point-Dr-Highland-Park-IL-60035/4902463_zpid/ .

I personally don't like it either, it looks like a hotel, not a home.

[Hulkotron]

Most of these really huge homes are just ridiculous, even if money is truly no object. Lots of extra square footage that just sits there gathering dust that was added on just for show and just to jack the price up come resale time. Extra maintenance, higher utility bills, etc, etc.

I know an old guy who built a huge home that basically looked like a Sam's Warehouse on the inside. 

And who actually needs indoor B-ball and tennis courts and bowling alleys? Those activities are catabolic.

I can understand an indoor pool and a well-equipped gym, of course. But I'll settle for a very nice, well-built single story whose square footage of living area is no more than a quarter of an acre. Quality over quantity.

Great idea, don't want to waste muscular effort going up stairs on leg day.

[Hulkotron]

These huge mansions are ridiculous.  I never understood why anyone would need this much house.  I'd rather have a house 1/10th of that size.  When people buy big ticket items like this, they must be thinking their money is never going to run out.  I wonder what the real estate tax is on this monstrosity.  He seems desperate to sell it, he's probably having some financial trouble.

Hmm probably not.  

He still makes about $50-$100 million off his shoes every year, still has shitloads of endorsements, etc.

People who own NBA teams (he's majority owner of the Hornets if I remember right) typically are filthy stinking rich and just run the team as a "for fun" diversion.  Teams often lose millions of dollars and it's a drop in the ocean for these guys. 

[Al Doggity]

If he's invested wisely and hasn't gambled and blown much away, perhaps he is worth a billion like he says. But without seeing what he actually has and what (if anything) he owes, you just have to take someone's word for it.

He doesn't go around broadcasting his networth. Forbes and those types of entities make the estimates on their own using what they consider educated metrics.

http://www.forbes.com/sites/kurtbadenhausen/2013/02/14/how-michael-jordan-still-earns-80-million-a-year/

Jordan earned an estimated $80 million last year from corporate partners Nike, Gatorade, Hanes, Upper Deck, 2K Sports, Presbyterian Healthcare and Five Star Fragrances. Other Jordan assets include six restaurants, a North Carolina car dealership, a motorsports team and his 80% stake in the Charlotte Bobcats. Jordan out-earns almost every member of the world’s highest-paid athletes 10 years after his last NBA game (Floyd Mayweather topped Forbes June 2012 list with earnings of $85 million).

The Jordan Brand, a division of Nike, is responsible for the vast majority of MJ’s earnings. Jordan partnered with Nike after being drafted by the Bulls out of North Carolina in 1984. The original five-year deal was worth $500,000 annually, plus royalties. The terms of Jordan’s current deal with Nike are a closely guarded secret, but royalties now generate more than $60 million annually for MJ, according to sources.

His stake in the Charlotte Hornets alone is worth more than $400 million. This is not a man going with money trouble.

[Hulkotron]

He doesn't go around broadcasting his networth. Forbes and those types of entities make the estimates on their own using what they consider educated metrics.



His stake in the Charlotte Hornets alone is worth more than $400 million. This is not a man going with money trouble.

x2

He also made like $30 million / year in his last two years with Chicago, and unlike most Heebs Jordan was very smart with his money.  He'll die a billionaire.  I lol @ people thinking his gambling causes him financial trouble.  He could hemorrhage $1 million a day for the rest of his life and probably still be fine.

[2Thick]

He doesn't go around broadcasting his networth. Forbes and those types of entities make the estimates on their own using what they consider educated metrics.

http://www.forbes.com/sites/kurtbadenhausen/2013/02/14/how-michael-jordan-still-earns-80-million-a-year/



His stake in the Charlotte Hornets alone is worth more than $400 million. This is not a man going with money trouble.

They estimate based upon what these people (or those who work for them) tell them / self report to them, and also based upon publicly available information such as SEC filings of shares owned of publicly traded companies.

Him earning $80 million a year doesn't mean he's actually worth a billion or even a dollar. Annual gross earnings can have little or no actual correlation to net worth.

I invest in companies and help others invest in publicly traded companies for a living. Believe nothing unless it can be verified with some reasonable degree of accuracy such as SEC filings and audits done by very reputable accounting firms.

What is the source of the Hornets' valuation?

[2Thick]

x2

He also made like $30 million / year in his last two years with Chicago, and unlike most Heebs Jordan was very smart with his money.  He'll die a billionaire.  I lol @ people thinking his gambling causes him financial trouble.  He could hemorrhage $1 million a day for the rest of his life and probably still be fine.

Actually no. I'm sure Tyson and MC Hammer thought the same thing.

When you make lots of money, you have lots of taxes, expenses, etc. Then you have the leeches and the people convincing you you need this or that. I make my living helping rich people get richer and stay rich. Just about anybody CAN go broke if they're stupid enough or careless enough. Many athletes and entertainers are.

[2Thick]

Great idea, don't want to waste muscular effort going up stairs on leg day.

Exactly! Stair climbing is catabolic and eats away at the teardrop muscles above the knee.

[Hulkotron]

Actually no. I'm sure Tyson and MC Hammer thought the same thing.

When you make lots of money, you have lots of taxes, expenses, etc. Then you have the leeches and the people convincing you you need this or that. I make my living helping rich people get richer and stay rich. Just about anybody CAN go broke if they're stupid enough or careless enough. Many athletes and entertainers are.

Maybe in general but I think you are underestimating what a financial juggernaut the Jordan Brand is.  For example I read somewhere that he outsold LeBron's shoes by something like 8-to-1 last year.  Even if he only manages to take home a small fraction of that income, it's still a tremendous amount of money.  He's also not exactly a Mike Tyson-type when it comes to decision-making and extravagance. 

[2Thick]

Maybe in general but I think you are underestimating what a financial juggernaut the Jordan Brand is.  For example I read somewhere that he outsold LeBron's shoes by something like 8-to-1 last year.  Even if he only manages to take home a small fraction of that income, it's still a tremendous amount of money.  He's also not exactly a Mike Tyson-type when it comes to decision-making and extravagance. 

Yeah, like I said, I hope you're right and he's doing well. I just wouldn't bet my life savings on such a figure being accurate myself. Maybe it is, maybe it's exaggerated a little, maybe more. Who knows for sure?

But so many people are frighteningly ignorant about personal finance and often trust the wrong people and blow their money faster than they make it. Gambling and supporting an entourage of leeches are two of the biggest drainers of wealth there are. As is the whole "show 'em what u got" / keep up with the joneses mentality.

[Stan Diego]

Michael Jordan is a billionaire

by Tony Manfred
March 2, 2015


Michael Jordan has been added to the Forbes list of billionaires.

He's now the 513th-richest person in the United States with a net worth of an even $1.0 billion.

The skyrocketing values of NBA franchises is the main reason Jordan broke the $1 billion mark.

He owns the Charlotte Hornets, which saw its value increase from $410 million last year to $725 million this year after the Los Angeles Clippers' $2 billion sale to Steve Ballmer.

The rest of Jordan's worth comes from his Nike deal, which earned him $90 million in 2013 alone.



Read more: http://www.businessinsider.com/michael-jordan-billionaire-2015-3#ixzz3aR0PwWhW

[Al Doggity]

They estimate based upon what these people (or those who work for them) tell them / self report to them, and also based upon publicly available information such as SEC filings of shares owned of publicly traded companies.

Possibly, in general, but in the specific case of Jordan, his spokesperson has declined to comment on his wealth or confirm Forbes' estimate.

Him earning $80 million a year doesn't mean he's actually worth a billion or even a dollar. Annual gross earnings can have little or no actual correlation to net worth.

But that's hypothetical and unrelated to your original point about him having money troubles. If he's in such bad shape that consistently earning upwards of $50mil a year (and being guaranteed to do the the same this year) still results in him being penniless, then the $15 mil he would get from selling just one of his unoccupied  multimillion dollar properties is not going to make much of a difference.

I invest in companies and help others invest in publicly traded companies for a living. Believe nothing unless it can be verified with some reasonable degree of accuracy such as SEC filings and audits done by very reputable accounting firms.

We're not talking about due diligence on a company I'm about to purchase. We're talking about whether Jordan chopping the sale price of his home suggests money problems. Considering all of his other holdings and all of his other potential revenue streams, it doesn't.

What is the source of the Hornets' valuation?

Forbes and some other biz journals estimated that price. Of course, once an actual sale takes place, the actual sale price is subject to change, but the issue was never Jordan's precise net worth, but whether or not ONE of his home's sales price was indicative of financial problems. Just to purchase an NBA team , even if you're Michael Jordan, requires profound financial stability.

[2Thick]

It's really not a big deal to me either way Al. Like I said, I hope he's doing well.

My points are that athletes and entertainers often don't end up doing so well, despite making lots of money. And to not just take whatever someone like an athlete or a magazine claims as gospel. And that income often has little or nothing to do with net worth. Living frugally and investing wisely are better predictors of wealth.

But just as an example, if someone is earning $80 mil a year in earned income (not things like longterm capital gains investment income or bond interest), they're probably lucky to walk away with $30 mil a year after all taxes and expenses to managers, agents, advisors, CPAs, and attorneys are paid. Unless they have ways they can deduct large amounts from their taxes.

And I'd assume he's probably got most or all of his $ tied up in things like trusts and corporate structures to greatly reduce personal liability - people love to sue rich people. But trusts and corporations are taxed at a pretty high rate in the US.

All he'd have to do is gamble a half million or so a week away to basically blow that $30 mil a year net earned income. I have no idea if he's doing that, or if he's more frugal than Buffett. Doesn't affect my life at all either way.

[Devon97]

50% drop in the asking price?  He's definitely a motivated seller.

NO kidding. I just dropped my place by 10k and still haven't gotten any new viewings

[Voice of Doom]

Jordan earned every cent of his wealth.  He busted his ass up and down court for years...plus training, practice, travel, media unlike societal leeches that make their money off of financial transactions or selling real estate.

[Al Doggity]

It's really not a big deal to me either way Al. Like I said, I hope he's doing well.

My points are that athletes and entertainers often don't end up doing so well, despite making lots of money. And to not just take whatever someone like an athlete or a magazine claims as gospel. And that income often has little or nothing to do with net worth. Living frugally and investing wisely are better predictors of wealth.

But just as an example, if someone is earning $80 mil a year in earned income (not things like longterm capital gains investment income or bond interest), they're probably lucky to walk away with $30 mil a year after all taxes and expenses to managers, agents, advisors, CPAs, and attorneys are paid. Unless they have ways they can deduct large amounts from their taxes.

And I'd assume he's probably got most or all of his $ tied up in things like trusts and corporate structures to greatly reduce personal liability - people love to sue rich people. But trusts and corporations are taxed at a pretty high rate in the US.

All he'd have to do is gamble a half million or so a week away to basically blow that $30 mil a year net earned income. I have no idea if he's doing that, or if he's more frugal than Buffett. Doesn't affect my life at all either way.

Fair enough. Obviously, Jordan's financial solvency doesn't affect my life, but there are just so many "what if's" you'd have to plug in to come to the conclusion that he is in need of cash from the sale of his house. 

[Hulkotron]

Maybe he just wants to get rid of it and gives no fucks if he has to drop the price a bit since he's a billionaire.