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Michael Jordan Makes History

By 06.14.14

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Michael Jordan is puffing a cigar somewhere as a billionaire.

According to Forbes, his airness is officially worth a cool billion bucks after he recently increased his stake in the Charlotte Hornets to 89% from 80%.

Jordan first became an investor in the Hornets (then the Bobcats) in 2006 and became the controlling owner in 2010 when he bought out Robert Johnson for $175 million. In January we valued the Hornets at $410 million. But the Milwaukee Bucks sold for $550 million in May, and they are considered the least valuable team in the league because of their market and arena. Sports bankers say the Hornets care presently worth between $600 million and $625 million.

Add in his $600 million net worth outside of the Hornets and Jordan becomes the first billionaire athlete ever and just the 10th black billionaire in the whole wide world.

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