Michael Jordan Joins Billionaire Ranks

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  • Dr. Dre has some company in the Black Billionaire’s Club. Former NBA player Michael Jordan, whose stake in Nike’s Jordan brand has netted him a nice sum, recently increased his ownership in the Charlotte Bobcats from 89.5% from 80%. That increase helped put him over the top, Forbes.com reports.

    A member of the NBA Hall of Fame, Jordan played for the Chicago Bulls all but two years of his career, bringing them 6 championships in the 90’s. He is the NBA’s all-time leader in regular season scoring average and is widely considered to be the greatest player of all time.

    His Jordan brand sneakers are among the most coveted sneakers in the world, fetching high prices and collected avidly by sneaker enthusiasts. The only African-American majority owner in the NBA, Jordan began his path to ownership with an initial investment in the then Charlotte Hornets in 2010. He paid $175 million for the team which is now valued at approximately $600 million.

    Forbes says that they’ve estimated Jordan’s wealth to be also in the area of $600 million and that combined with his $412 million dollars of equity in the Bobcats, makes him a member of the elusive billionaire’s club. Wonder if there’s any kind of billionaire initiation process?

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