Michael Jordan Is Now an Official Billionaire


You can now officially say that Michael Jordan is now apart of the Billionaire boys club, according to Forbes.com after increasing his stake in the Charlotte Hornets  to 89.5% from 80% during the past several months he is now an official billionaire. I could of sworn he was one already though ?

Forbes states:

Jordan first became an investor in the Hornets (then the Bobcats) in 2006 and became the controlling owner in 2010 when he bought out Robert Johnson for $175 million. Sports bankers say the Hornets are presently worth between $600 million and $625 million. The Milwaukee Bucks sold for $550 million in May, and they are considered the least valuable team in the league.

Our net worth figure for Jordan uses the $600 million figure. The Hornets have $135 million of debt, which makes Jordan’s equity in the team worth $416 million. After subtracting all the cash Jordan has invested in the team, we estimate his net worth outside of the Hornets to be $600 million, giving him a net worth of a $1 billion.



3 thoughts on “Michael Jordan Is Now an Official Billionaire

  1. Congrats! Mr. Jordan, I need to come up with a business plan a pitch to him for some financing. Invest in me!!!

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