The Facts Behind Michael Jordan’s Prison Investment
Published August 28, 2023
There is a never-ending discussion about Michael Jordan’s alleged prison investment. We all know him to be the greatest basketball player of all time. However, the past years continue to haunt his public image.
Many internet sites affirm that Michael Jordan invested millions of dollars in private prison stocks. While the basketball player has been receiving a lot of intrigue and conspiracy theories, this one is different. This particular news came as a shock to many people of color. After all, minorities make up most of the country’s prison population. It is also not to be forgotten that private prisons contribute to the mass incarceration problem in the US. Because of it, Michael Jordan earns backlash from the African American community.
This article will once and for all reveal the truth about the Michael Jordan prison rumor. Did Michael Jordan invest in private prisons? You’ll have to continue reading to find out. Let’s waste no more time and begin.
Did Michael Jordan Invest in Private Prisons?
Michael Jordan indeed invests in private prisons. Specifically, private prison stocks. But, it is not the Michael Jordan who’s flying and slamming balls in hoops. It’s Michael Jordan, who is currently the chief administrative officer in Portland, Oregon.
The truth about Michael Jordan’s prison investment news is it is a case of mistaken identity. It is about two people from very different backgrounds. They happen to share the same name.
The other Michael Jordan is a public servant. According to the Portland City website, he has a long history of public service in Oregon. He is the state’s top administrator. Jordan also played a role in the John Kitzhaber scandal. As we can observe, he leads a much more private life than his iconic namesake.
Does Michael Jordan Own a Prison? How Did the Rumor Start?
In 2014, UrbanIntellectuals published an article about Nike using prison labor to make its shoes. People equate this to a form of modern slavery. It didn’t help since prisoners were only paid a pittance. The basketball icon Michael Jordan gets a lot of money from Nike’s Air Jordan sneakers. The report alleges that he indirectly invested in prisons.
As with any rumors in the age of digital media, it became a meme. Many African-Americans also fuel it. They are blaming him for not doing anything for the community.
The media personality Tariq Rasheed clarified this in a Twitter post in 2016. Yet, the memes continue to spread.
Private Prisons and Mass Incarceration
The American Civil Liberties Union disclosed that the US accounts for more than 25% of the world’s prison population. It is despite the fact that it only shares 5% of the total global population. It only means one thing: the country has a pressing problem with mass incarceration.
In 2016, an estimated 2.2 million Americans were locked up behind bars. This number has continued to increase over the last few years. A 2014 Human Rights Watch report suggested that the country’s stricter approach to crimes filled our prisons with mostly nonviolent offenders. Many of them were convicted of drug offenses.
The ever-increasing inmate population led the government to privatize prisons in the 1980s. Under this, the government would pay a private contractor for everyone locked up. Enterprising individuals jumped in on the opportunity and built prison spaces.
To fill them up, private prison companies lobbied for tougher crime punishment. It resulted in the country’s current version of a justice system. Under the private prison system, several cases of abuse were reported. Prison labor, expensive jail calls, food shortages, and under staffing are among them.
With these, we can understand why the world hates Michael Jordan. But it is for something that can only be construed as nothing more than fake news.
Michael Jordan’s Controversies
The icon did not invest in prisons. However, his actual investments are not without controversies. He bestowed $1 million to the Institute for Community-Police Relations. It advocates for better relations between communities and law enforcement. Although he owns no prisons, his net worth has risen significantly. It went from $1.85 billion in 2009 to over 2 billion by 2020.
The alleged investor in private prison is nothing but an urban myth. The truth is Michael Jordan is a billionaire. He is not a racist. He’s a good friend of the law. It’s important to rule that the sportsman is not a prison stock owner. He donates millions of dollars annually to a charity that helps prison relations. It means that he is a strong supporter of law enforcement. Michael Jordan’s help is a way for him to focus on his community.
Michael Jordan’s Effort to Promote Racial Equality
Despite the hurtful allegations about the prison investment scandal, the basketball icon has a flawless character. Michael Jordan has been a great help in promoting racial equality. In 2020, he donated $100 million to groups fighting for racial equality and social justice. The NBA legend said he and his Jordan Brand would distribute the money over ten years.
The money will go to several organizations fighting ingrained racism. It sparks in the wake of protests breaking out globally following the death of George Floyd. George Floyd was an unarmed black man who passed away on the 25th of May 2020. A white man knelt on his neck for over eight minutes.
Craig Williams, the president of Jordan Brand, announced the donation. He said it was time for Michael Jordan to join forces with the community, government, and civic leaders. It is to create a lasting impact on the black community.
Michael Jordan stated that he stands by calling out the ingrained racism. He also fights violence toward people of color.
Frequently Asked Questions About Michael Jordan Prison Investment News.
1. How did Michael Jordan get so rich?
Michael Jordan’s wealth flourished because of various factors. He has a fantastic basketball career. He was one of the highest-paid players of his time. He earned $90 million in salary throughout his playing career. The sportsman also has a partnership with Nike. The invention of the iconic Air Jordan sneakers became a game-changer for athlete endorsements. He continues to receive large royalties because of this. It is estimated to be over $100 million annually. Finally, he has investments in various ventures.
2. What does Michael Jordan invest in?
Michael Jordan has some notable investments throughout his career. He bought a majority stake in the NBA team Charlotte Hornets. He invested in Sportradar. The basketball player also owns a car dealership and seven restaurants. He is also part of a $305 million investment in Dapper Labs. Lastly, Jordan invested in Beyond the Ball. A non-profit organization that focuses on youth development and mentorship.
3. Did Michael Jordan ever go to prison?
Michael Jordan has never gone to prison. There have been some references to legal matters related to him. But these incidents did not result in the basketball player serving time in prison.
4. Did Michael Jordan invest in private prisons?
Michael Jordan did not invest in private prisons. It is all just rumors and misinformation. It is critical to know that they are not true and can affect Jordan’s reputation.
And now, it’s clear and done that Michael Jordan prison investment news is nothing but a bluff. The basketball legend did not take part in any malicious private prison sale of stocks. He does not support any injustice to people of color. As a matter of fact, he holds deep value and love for his background and community.
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About The Author
Judy Ponio is a professional writer for the GlobalTel blog. She works hard to ensure her work contains accurate facts by cross checking reputable sources and doesn’t settle for less. Her passion for telling stories about true crime and criminal justice has allowed her to create hundreds of articles that have benefited millions of people.