Michael Jordan Joins the Billionaire Boys Club

Due to his increased stake in the Charlotte Hornets, the Michael Jackson of sports, Michael Jordan, has now made his way into the billionaires' club. According to sources close to the Hornets, Jordan recently increased his stake in the team from 80% to 89.5%, which puts his total net worth over the billion dollar mark.

Jordan became an investor in the Hornets back in 2006 when they were still known as the Bobcats. In 2010, he took on the title of "controlling owner" after buying out Robert Johnson for $175 million. According to reports, Jordan's equity in the team is worth $416 million. Being that his net worth is valued at $600 million, this gives him a new net worth of over $1 billion. Way to go MJ! 

Source: forbes.com