Skip to main content
  1. AXS Entertainment
  2. Sports
  3. NBA

Report: Jordan now a Billionaire after increasing stake in Hornets

See also

Known by many monikers, including being the man who helped generate the revenue to build the Chicago Bulls current digs, Michael Jordan can now be called a billionaire.

According to a report by Forbes, Jordan increased his stake in the Charlotte Hornets to 89.5% from 80% during the past several months.

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.

Jordan became the Hornets, then Bobcats, controlling owner back in 2010 when he bought out former owner Robert Johnson. If the reports are true, then Jordan becomes the first US professional athlete to become a billionaire.

Of course, Jordan also has involvement with his footwear and apparel line with Nike that has grown into a $2 billion business, which equates to almost 10 percent of Nike's revenue. Jordan's take from that is about $75 million according to Forbes. The Jordan Brand has 58% market shares on U.S. basketball footwear.

This goes along with several of other long-standing endorsement deals, such as Gatorade and Hanes. Last year, Forbes estimated that his Airness made $90 million.

According to the report, the Hornets are presently valued between $600-625 million, which is where the $600 million figure is drawn from.

Jordan's next endeavor will be to add another piece to a team that went 43-39 during the regular season and earning the seventh seed in the Eastern Conference before being swept by the Miami Heat.


Today's top buzz...

  • Weird Al
    'Weird Al' Yankovic gains his first number one album with 'Mandatory Fun'
    Music Buzz
  • LeBron James
    Frank Caliendo channels Morgan Freeman when reading LeBron James' letter
    NBA Buzz
  • NFL jerseys
    New York Giants and Jets fail to breach NFL's top 25 in jersey sales
    NFL Buzz
  • Slash
    Slash and The Conspirators crush it at Hard Rock, AP Awards
    20 Photos
  • Monks of Mellonwah
    Exclusive interview: Monks of Mellonwah talk music, touring and more
    9 Photos
  • Bad Company
    Bad Company and Lynyrd Skynyrd deliver a double dose of hits at the Blossom Music Center
    20 Photos