Michael Jordan Is Now a "Billionaire" According To Forbes!! -- Video Inside

Michael Jordan Is Now a "Billionaire" According To Forbes!! -- Video Inside

Michael Jordan is now a billionaire, after increasing his stake in the Charlotte Hornets, reports Forbes. The financial publication previously put the NBA legend's net worth at $750 million in February, but he increased that number in the past several months by upping his stake in the NBA franchise from 80% to 89.5% recently.

Back in 2010, Jordan became the first ex-NBA player to become a majority team owner when he bought out Bob Johnson for $275 million. He previously became an investor in 2006. 

According to Forbes, the Hornets are worth around $600 million. The team's debt is around $135 million, making Jordan's equity in the team worth $416 million. Outside of the team, his estimated net worth is around $600 million, so if you add both numbers,

MJ's total net worth tops $1 billion.