Former NBA star Michael Jordan is officially a billionaire. (Photo : Reuters/Chris Keane)
Former NBA star player and entrepreneur Michael Jordan is now officially a billionaire!
Forbes has just recently released facts and figures of 2015 billionaires, and Jordan apparently made it to the list, making him the 513th richest person in the United States. His net worth is said to be $1 billion.
In a previous report by the Business Insider, it is the high worth of NBA franchises that made him hit the mark. Currently, he is the proud of owner of Charlotte Hornets, which has increased in value last year from $410 million to $725. His stake in the team, Forbes says, is $500 million.
It was in 2010 that Jordan made the plunge to buy the team for the price of $275 million. With the Hornet's new deal with Turner and ESPN, which will average to about $2.66 billion per year, the purchase is indeed a wise investment.
However, there are several other reasons how he earned his billions. The former professional basketball player retired decades ago, but did very well after the end of his career. From Nike royalties alone, he makes about $100 million yearly, reports say. He also has endorsement deals with 2KSports, Hanes, and other big companies, giving him a steady stream of income.
Majority of Jordan's investments are into real property and business deals. In several reports, he is said to have plans to build a private golf course. Near Charlotte is a $2.8 million mansion, which is a huge addition to his dream house worth $12.8 million built in Florida.
With an exceptional NBA record, Jordan, 52, has become a legend and an influence to other professional basketball players like Kevin Garnett, who is reported to have plans to buy the Minnesota Timberwolves.
