Just months after unloading his majority stake in the Charlotte Hornets, NBA legend Michael Jordan has achieved yet another milestone. The six-time NBA champion has entered the exclusive club of America’s richest people.
With his net worth skyrocketing, thanks to his successful Air Jordan sneaker empire and various business ventures, especially after the sale of his majority stake in Charlotte Hornets, Jordan’s financial status now places him among the wealthiest individuals in the world.
Jordan makes history as first pro athlete on America’s 400 wealthiest list
The legendary basketball icon, Micheal Jordan, has become the first professional athlete to secure a coveted spot on America’s 400 wealthiest list. The recent sale of the majority stake in the Hornets was a transformative moment for Jordan, as he was able to achieve this milestone.
With an estimated net worth of 3 billion, the legendary athlete has seamlessly transitioned from dominating the basketball arena to excelling in the business world. Leveraging from brands like McDonald’s, Gatorade, Hanes, and, Nike, earning an estimated $2.4 billion, the timing of Jordan’s entrance into the elite circle of America’s wealthiest could not be more timely after he sold his share of Charlotte Hornets.
Across his 15 NBA seasons, Michael Jordan made about $94 million and was the league’s highest-paid player in 1997 and 1998 as the business tycoon was already in the game of making huge assets.
Michael Jordan sold Hornets stake for $3 billion
The sale of Micheal Jordan’s stake comes as no surprise to those following his career off the court. Since becoming the majority owner of the Hornets in 2010, back when it was still known as the Charlotte Bobcats, for a price of $275 million, he has successfully revitalized the franchise and transformed it into a profitable venture.
This unprecedented deal further cements the NBA’s financial dominance making it one of the most profitable moves from a business perspective. The sale of the stake comes as no surprise, given the substantial rise in sports team valuations over the years.
The ever-increasing popularity of the NBA and the growing global interest in basketball have played a massive role in boosting the value of such investments. A group led by Gabe Plotkin and Rick Schnall were the perfect suitors to match his valuation as Michael Jordan agreed to sell his majority stake in the Charlotte Hornets for an approximately $3 billion valuation, ending his 13-year run as majority owner.
The Hornets fans are equally excited with the groundbreaking jersey-patch deal with social media personality, MrBeast as the NBA continues to grow and spread influence all over the world through a sporting and business network.
