New Title For Michael Jordan: Billionaire
By John Dodge
CHICAGO (CBS) — Michael Jordan won six NBA titles, 10 scoring titles, five league MVP awards.
The former Bulls star and owner of the Charlotte Hornets has another title now:
Forbes has come out with its annual World’s Richest People list. (Bill Gates, once again, richest guy on the planet. Yawn.)
Jordan cracked the billionaires’ club after increasing his ownership in the NBA franchise to 89 percent.
Forbes estimated that Jordan earned $90 million last year.
His actual net worth in the NBA team is around $416 million.
His worth outside the team is another $600 million.
However, the newly minted billionaire still hasn’t sold his Highland Park estate. He tried without luck to auction the house when the minimum bid of $13 million wasn’t reached.
He initially listed the home a few years ago for $29 million.
In 1984, Jordan’s first NBA contract, while huge at the time, was reportedly worth $6 million over five years including a $1 million signing bonus.
So it took Jordan about 30 years to turn that first $1 million into $1 billion.