Report: Michael Jordan's net worth now at $1 billion By DeAntae Prince
Last updated on July 21, 2014 1:07pm EDT
Michael Jordan is now a billionaire.
By increasing his stake in the Charlotte Hornets from 80 percent to 89.5 percent, Jordan, who pulls in annual earnings of $90 million, increased his net worth from $750 million to a cool $1 billion, according to Forbes.com.
Michael Jordan (AP Photo)
Jordan became a part owner of the Hornets (then the Bobcats) back in 2006, then bought owner Bob Johnson out for $175 million.
The Hornets are worth between $600 million and $625 million, a figure that factors into Forbes.com's calculations of Jordan's net worth.
The team is $135 million in debt, so $416 million is applied to Jordan's net worth. Jordan is worth an estimated $600 million outside of the Hornets, which brings him to $1 billion.
Poster Comment:
I wonder what this guy is going to do with all that net worth? You can't take it with you. LOL