Michael Jordan is Now a Billionaire
It looks like Michael Jordan is officially the greatest basketball player to ever hit the court — or at the very least the richest. Forbes has just reported that MJ is now a billionaire due to an increase from 80% to 89.5% in his stake of the Charlotte Hornets. Here’s how it breaks down:
“[Forbes’] 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.”
With all the sales of his popular Air Jordan sneakers, we’re surprised he didn’t crack the “Billionaire Club” sooner.