Michael Jordan has joined the billionaire boys club. According to Forbes, Jordan is now worth $1 billion.
Jordan’s net worth increased with his ownership of the Charlotte Hornets. In 2010, Jordan took control of the team by buying out Robert Johnson for $175 million. Johnson lost money during his ownership with the Hornets (then called the Bobcats), but the recent increase in value of NBA teams made franchises more profitable.
The Hornets are now valued at $600 million. Outside of the NBA franchise ownership, Jordan has a net worth of $750 million through his apparel line and other endorsements. When added together, it puts Jordan over the $1 billion mark.