• A recent report suggests Michael Jordan’s net worth has ballooned to $3.5 billion after selling the Charlotte Hornets
• Jordan is comfortably the richest NBA player in history, extending his spot at the top with the Hornets sale
• LeBron James is the only other NBA player to have a billion-dollar net worth
Michael Jordan has further extended his spot at the top of the richest NBA athletes even after the sale of his stake in the Charlotte Hornets. According to Bloomberg, Jordan’s net worth is estimated at $3.5 billion now, keeping him in first place comfortably.
“The National Basketball Association legend’s sale of his stake in the Charlotte Hornets this month cemented his net worth at an estimated $3.5 billion, according to the Bloomberg Billionaires Index, which is calculating his fortune for the first time.”
The only player even remotely close to catching Jordan’s net worth is LeBron James, who had a reported net worth of $1 billion, according to Forbes in June 2022. Even if it has increased, LeBron likely still trails behind MJ’s new net worth by a couple of billion dollars.
The Charlotte Hornets Sale Has Solidified Michael Jordan’s Status As The Richest Former Player
Jordan was the majority owner of the Charlotte Hornets and sold the franchise on this summer at an estimated valuation of $3 billion. Given Jordan paid just $275 million for his stake when he had purchased it, the GOAT walked out of the Hornets by making the most money he ever has in his life.
Given Jordan sold a 65% stake in the franchise, it likely netted him almost $2 billion at the time of the sale. That is an incredible return on investment, even though Jordan’s era as owner of the Hornets has widely been criticized for its lack of on-court success.
Michael Jordan’s Sneaker Empire May Be Untouchable
It’s likely that LeBron will chase Jordan even on this list, but it’ll be hard for him to compete as long as the six-time champion has one of the most valuable footwear brands to his name. Even though the Jordan Brand is a Nike subsidiary, Michael had reached a billion-dollar net worth by virtue of his stake in the company and the royalty he receives for each shoe sold.
LeBron has his own spinoff brand with Nike, but it’s not nearly as powerful as the Jordan Brand, as the shoes they sell are highly prized and appeal to an audience beyond basketball fans as well. As long as Jordan shoes are flying off the shelves, MJ will be untouchable from a financial perspective.
James will look to enter NBA ownership on his own soon, but with the increasing prices of NBA teams, it looks like he’ll need an investment group alongside him to make it happen. MJ got in and got out at the perfect time and can enjoy his riches on luxury yachts, NASCAR racing, or reinvest it to make even more money.
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