After selling the Charlotte Hornets in June for $3 billion, the NBA’s second-most valuable franchise behind the Phoenix Suns ($4 billion), Michael Jordan is once again entering rarefied air.
According to Forbes, Jordan now has a net worth of $3 billion, which qualifies him to join the Forbes 400 – the first time a professional athlete has made the list of America’s richest.
The 60-year-old Hornets owner wasn’t particularly successful on the court — the Hornets had a .406 winning percentage in his 13 seasons as majority owner — but it was an extremely lucrative business venture: Jordan was known for According to Forbes, the property was valued at $1.7 billion in 2010 and was valued at $1.7 billion before the sale.
Jordan reportedly retains a small stake in the Hornets but will maintain his vast wealth through his other business positions.
Nike’s Jordan Brand brought in $5.1 billion in fiscal 2022, and the NBA legend earned more than $256 million from partnerships last year.
Jordan reportedly invested $150 million in 2020 to form NASCAR team 23XI Racing. “Michael Jordan is Michael Jordan, right?” Caryn Grant, NASCAR’s senior director of diversity and inclusion, told FOS in July. “Whenever he’s involved in anything, it definitely brings more excitement, more looks, that kind of thing.”
Jordan also owns luxury tequila brand Cincoro and holds minority stakes in companies such as CLEAR, Mythical Games, Dapper Labs, DraftKings and Sportradar.