Michael Jordan is Now a Billionaire?

  • by Nick
  • 6 Years ago
  • 3

According to Forbes, Michael Jordan is now a billionaire due to an increase in his stake of the Charlotte Hornets to 89.5% from 80%. Sports bankers say the Hornets are presently worth between $600 million and $625 million USD. The Milwaukee Bucks sold for $550 million USD in May, and they are considered the least valuable team in the league. Forbes‘ net worth figure for Jordan uses the $600 million figure. The Hornets have $135 million USD of debt, which makes Jordan’s equity in the team worth $416 million USD. After subtracting all the cash Jordan has invested in the team, they estimate his net worth outside of the Hornets to be $600 million USD, giving him a net worth of a $1 billion USD.

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“LIVE FAST DIE FLY” Nick Reed is not the typical New Orleans native. Even with an B.A. in Journalism and Creative Writing from Xavier University, it has been said that he was always different. Through fashion and creative writing Nick has always found a way to express himself. He is the owner of So Authentic promotional group and was a former Editor-in chief of the Xavier Herald. Over the past few years he and partner Yoey Yo have developed My HELL OF A LIFE and GFC clothing brand in hopes to change the world. Their main goal is to just make the world a little more fresh.

3 Comments Already

  1. i woulda thought hes been one

  2. MJ! big money

  3. Long overdue. What does that up the number of black billionaires to?

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