Everybody knows that Michael Jordan is worth a truckload of money. The guy has been raking in the millions for a long time now with large contracts, endorsement deals and most recently via the Charlotte Hornets. The value of the Hornets franchise is reportedly way up, and according to Forbes, Jordan has upped his stake in the franchise.
Because Jordan bumped his stake from 80 percent to 89.5 percent — he’s now officially a billionaire.
Some people might be asking what took him so long to hit the billion mark. Well, a billion dollars is a lot of freaking money. Even for MJ. But now that he’s hit it, the billions should keep on rolling in. With the Hornets trending upward in a big way, there’s no telling what Jordan will be worth five years from now.
Some estimates have the Hornets being worth between $600 million – $1 billion at current time. But everyone has seen what NBA franchises are selling for these days. Prices are inflated, and they could stay that way because of the league’s overall success.
Fans in Charlotte are hoping that the word ‘sale’ isn’t spoken anytime soon in regards to the Hornets. It shouldn’t be, as MJ seems to be all-in. After many tough years with the Bobcats, the newly rebranded Hornets are finally pointed in the right direction. There are foundation players in place, and there’s also a good amount of extra spending money for potential free agent signings this offseason.
If his team continues to improve, there’s little doubt that Jordan will hit $2 billion before too long.