Did you know that Michael Jordan’s money saved Spike Lee’s Malcolm X film?

Story by Financial Juneteenth

Maybe it was a jesture meant to show support for a film that would be helpful to the black community. Maybe it was just a favor being done for a friend. But a lot of people don’t know that Spike Lee gave Michael Jordan credit (along with other donors) for giving him the money he needed to finish the famous film, “Malcolm X” that he did over 20 years ago.

According to the New York Times, Lee mentioned that Jordan was the person who helped him to keep the film alive when Hollywood wanted to bury it. Anyone who saw the film knows why Hollywood would never want to see something like this in theaters anyway.

According to Lee, the major donors for the film were Bill Cosby, Oprah Winfrey, Michael Jordan, Earvin (Magic) Johnson, Janet Jackson, Prince, and Peggy Cooper Cafritz, founder of the Duke Ellington School of the Arts in Washington.

Lee gave a press conference at the Schomberg Center for Research in Black Culture in Harlem to discuss the project back in 1992. He said that he had to go outside to get the money after the Completion Bond Company refused to approve any more of the spending necessary to make the film the right way. Lee was told that the film could only be two hours and 15 minutse and that Warner Brothers, who was producing the film and distributing it, would not pay another “single penny” to complete it.

The film had originally been budgeted at $28 million, which was a handsome figure for that time. Then, the price tag rose to $33 million, and finally $40 million by the time it was said and done.

“This is not a loan,” said Lee, back in 1992. “They are not investing in the film. These are black folks with some money who came to the rescue of the movie. As a result, this film will be my version. Not the bond company’s version, not Warner Brothers’. I will do the film the way it ought to be, and it will be over three hours.”

Lee says that his salary to direct the film was $3 million and that he was using $2 million of it to complete the project.

“When we began the film, we never had the amount of money we needed,” he said.

Robert G. Friedman, a Warner spokesman, said that “We’re very pleased with the film and look forward to seeing the completed version.

So, we ask you: Does this information give you a different perspective on Michael Jordan? Some know him to be a stingy, greedy person who doesn’t care much for the black community. Others think he’s simply misunderstood and does his good work in private, where no one can see.