National Basketball Association (NBA) legend Michael Jordan has reportedly become the latest athlete to join the billionaires' club.
Forbes reportedly revealed that Jordan reached the huge figure by increasing his stake in his basketball team, the Charlotte Hornets, from 80 percent to 89.5 percent in the past few months.
According to News.com.au, Forbes' Mike Ozanian said that their net worth figure for Jordan uses the 600 million dollars figure, adding that sports bankers say that the Hornets are presently worth between 600 million dollars to 625 million dollars.
Ozanian said that the Hornets have 135 million dollars of debt, which makes Jordan's equity in the team worth 416 million dollars, adding that after subtracting all the cash Jordan has invested in the team, Forbes estimates his net worth outside of the Hornets to be 600 million dollars, giving him a net worth of a 1 billion dollars.
