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Michael Jordan Reportedly a Billionaire

Forbes is reporting that Michael Jordan is now a billionaire due to his increased stake from 80% to 89.5% to the Charlotte Hornets. Analysts estimate the Hornets are currently worth between $600 million to $625 million USD using statistics from when the Milwaukee Bucks sold for $550 million USD in May. Although the Hornets have $135 million USD of debt, which makes Jordan’s equity in the team worth $416 million USD, it is estimated his net worth outside of the Hornets accumulates to $600 million USD, giving him an on-paper net worth of $1 billion USD.

Date: Jun 13, 2014  /  Views: 9651  /  Author: Arby Li  /  Source: Forbes
Category: Lifestyle  /  Tags: Michael jordan, Charlotte hornets