The talkSPORT host has dismissed the midfielder's insistence that his controversial move to the Middle East was not motivated by money.
The 33-year-old joined Steven Gerrard's Al Ettifaq in the summer after 492 appearances with the Reds.
Henderson, who was an ally of the LGBTQ+ community when at Anfield, faced a backlash given homosexuality is illegal in Saudi Arabia.
Many accused the England international of aiding Saudi in their attempt at sportswashing their human rights record.
Speaking to The Athletic, Henderson denied the claims he is earning £700,000-a-week at Al Ettifaq and insisted money was 'never mentioned' in his discussions with Gerrard or the club.
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"People will see this club come with loads of money and he's just gone, 'Yeah, I'm going.' When in reality that just wasn't the case at all," said the ex-Liverpool skipper who also opened up about the reasons behind his Anfield exit.
"In my life and my career, money has never been a motivation. Ever. Don't get me wrong, when you move, the business deal has to be tight.
`"You have to have financials, you have to feel wanted, you have to feel valued. And money is a part of that."
Henderson added: "Stevie [Gerrard] never mentioned money. Everything I spoke to Stevie about was football and the project.
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"And he actually said he didn't want to get involved in any of the money stuff. It was all about what we could do together to achieve something special and build a club and build the league."
talkSPORT host Simon Jordan has since ripped into Henderson, who is on international duty with England, following his comments.
"It is ridiculous for him to say in an all-straight face perspective that he has not gone to Saudi for the money.
"I don't care whether he has gone for the money or not. The bottom line is, that is what he has gone for.
"The same reason Phil Mickelson went to play on the LIV Golf tour and give us all this load of old pony, of diversity and inclusion, and bringing forward a society, that in some ways wasn't where it needed to be.
"With all those things in mind, Jordan Henderson can't get past the inevitable.
"I would rather him say one of the driving factors was the money. That is disingenuous and people will look at that and say 'don't be so bloody stupid'.
"You're an international footballer, playing for Liverpool, going to a league that has enormous amounts of money attached to it.
"I don't blame him for going for an enormous amount of money for whatever age he is.
"If someone is foolhardy enough to pay him four, five, six, seven hundred thousand pounds a week, then that is on them.
"Let's not dress it up into what it isn't, it is predominantly a money transaction, it is not the same accusation I made of Kieran Trippier.
"I still maintain if it was not a significant amount of money, he [Trippier] would not have gone and signed for Newcastle if Mike Ashley was in charge.
"I think this is very thought through, and chapeau to his [Henderson's] PR team, because when you're preparing for these interviews, you know what is coming your way and what is your outcome.
"When people are saying 'you hypocrite, you made a song and dance of wanting to be supportive of certain communities, and you went to a country which has no support for these countries whatsoever, you're a mercenary, you're only going for money' - what would be the best answer to this question? Because we are caught in a cleft position.
"He [Henderson] has been briefed, he is a parrot, I would imagine him sat wondering how he dresses it up.
"Why have I gone to Saudi? I have had the potential opportunity to stay in the English Premier League, I still would have been earning a kings fortune.
"I am going to Saudi that has an average attendance of 6,000 fans, in a country that is not the most hospitable to the communities I support.
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"I know, I build up a narrative around, that these contributed factors, which in part may form a slight consideration.
"Jordan, if you were getting the same dough at Liverpool, would you be as equally as motivated to go to these countries, and grow the sport? No he wouldn't."