Forbes is reporting that the billionaire club has a new member – Michael Jordan.
After increasing his stake in the Charlotte Hornets, Michael Jordan has now hit billionaire status.
The NBA great’s interest in the Hornets has risen to 89.5 percent from 80 percent over the past few months, the report said.
Prior to his increased stake, Jordan’s net worth was reportedly around $750 million.
Jordan first became an investor in the Hornets in 2006. He later became a controlling owner in 2010 after he bought out Robert Johnson for $175 million.
Sports bankers put the Hornets’ current value between $600 million and $625 million, the report said.
Leave a Reply