After selling the Charlotte Hornets for $3 billion in June — the second-most-expensive NBA team sale of all time behind the Phoenix Suns ($4B) — Michael Jordan entered rarified air once again.
According to Forbes, Jordan now carries a net worth of $3 billion, which qualifies him to appear on the Forbes 400 — the first time a professional athlete has ever cracked the coveted list of the wealthiest Americans.
The 60-year-old’s ownership of the Hornets was not particularly successful on the court — the team notched a .406 winning percentage across his 13 seasons as majority owner — but it was an extremely lucrative business venture: Jordan bought into the team for $180 million in 2010 and it was valued at $1.7 billion just before the sale, per Forbes.
Jordan reportedly retained a very small stake in the Hornets, but will maintain his exorbitant wealth through his other business positions.
Nike’s Jordan Brand brought in $5.1 billion in fiscal year 2022, netting the NBA legend over $256 million from the partnership last year.
Jordan invested a reported $150 million to form NASCAR team 23XI Racing in 2020. “Michael Jordan is Michael Jordan, right?” NASCAR senior director of diversity and inclusion Caryn Grant told FOS in July. “Anytime he is involved with anything, it certainly brings more excitement, more eyes, and things like that.”
Jordan also owns luxury tequila brand Cincoro, and holds minority stakes in CLEAR, Mythical Games, Dapper Labs, DraftKings, and Sportradar, among others.
