Michael Jordan, the legendary NBA figure renowned for his on-court prowess, has achieved yet another milestone, becoming the first athlete to secure a spot on Forbes’ prestigious list of the 400 richest Americans. With a staggering net worth of $3 billion, as reported by NBA Central, Jordan’s financial ascent has been nothing short of remarkable, especially considering his estimated net worth of $2 billion just a few months prior in June.
This monumental leap in wealth can be attributed to Jordan’s shrewd business decisions and, in particular, his decision to sell his minority stake in the NBA’s Charlotte Hornets for a jaw-dropping $3 billion in August, a sale detailed by Forbes’ Justin Birnbaum. Notably, this transaction marked a 17-fold increase in Jordan’s net worth since he became the majority owner of the Hornets 13 years ago, ranking as the second-largest franchise sale in NBA history.
Ted Leonsis, owner of the Washington Wizards and a close observer of Jordan’s career, expressed admiration for Jordan’s exceptional track record of success, emphasizing how rare it is for someone to achieve significant success multiple times in various ventures.
In a select group that includes only three athletes, Michael Jordan joins the ranks of billionaires, with LeBron James and Tiger Woods as his fellow sports luminaries in this exclusive club. Jordan’s diverse business portfolio encompasses more than just his minority ownership in the Hornets; it extends to include auto dealerships, equity investments, restaurant ventures, and even a tequila brand. Leonsis anticipates that Jordan will adopt a more prominent role in the world of NASCAR, a sport he entered into three years ago when he co-founded 23XI Racing alongside NASCAR driver Denny Hamlin.
This remarkable news coincided with the highly anticipated comeback of Michael Jordan’s iconic “Space Jam” Jordan 11 sneakers. Featuring a sleek black colorway adorned with Jordan’s signature blue “Jumpman” logo, these sneakers are poised to hit store shelves next summer, further solidifying Jordan’s enduring impact on the worlds of sports and fashion.
