One month and two new black billionaires! Woohoo.
Michael Jordan, the legendary athlete with the perfect baldy and signature layup style (tongue out and all) is the newest addition to the oh so elusive billionaire club. With annual earnings of around $90 million (he has all you people who camp out in front of Footlocker to thank) and a net worth of $750 million, Jordan recently increased his stake in the Charlotte Hornets from 80% to 89.5%.
Now for the math…
An investor in the franchise team since 2006, Jordan recently (2010) became controlling owner when he bought out Robert Johnson for $175 million. Sports analysts put the current value of the Hornets around $620 million. Jordan’s 89.5% stake gives him about $500 million of that. When combined with his current net worth, he easily exceeds the billion dollar mark.
One of the greatest athletes of all time. A sportswear icon who can get individuals to buy the same sneakers year after year without making ANY changes. And a sharp businessman who knows how and where to invest to maximize his net worth. Go MJ.