Welcome Michael Jordan To The Billionaires Club

Michael Jordan

Michael Jordan is continuing to set records long after he hung up #23 on the court. Forbes is reporting that Michael Jordan is now worth $1 Billion. How did MJ achieve that feat?

Jordan reportedly increased his stake in the Charlotte Hornets to 89.5% from 80%. The team’s current estimated value is at $600 million. Taking his 89% ownership and adding his $600 million net worth outside of the team, there’s your first athlete billionaire.

Jordan first invested in the franchise back in 2006 when the team was known as the Bobcats and owned by former BET head Robert Johnson.