Wow, NBA legend Michael Jordan is officially a member of the billionaire boys club now.  According to a Forbes report.

Jordan-Cigar

After increasing his stake in the Charlotte Hornets, Michael Jordan is now a billionaire.

The NBA great’s interest in the Hornets has risen to 89.5 percent from 80 percent over the past few months, the report said.

Forbes.com:

Jordan first became an investor in the Hornets (then the Bobcats) in 2006 and became the controlling owner in 2010 when he bought out Robert Johnson for $175 million. Sports bankers say the Hornets are presently worth between $600 million and $625 million. The Milwaukee Bucks sold for $550 million in May, and they are considered the least valuable team in the league.

Our net worth figure for Jordan uses the $600 million figure. The Hornets have $135 million of debt, which makes Jordan’s equity in the team worth $416 million. After subtracting all the cash Jordan has invested in the team, we estimate his net worth outside of the Hornets to be $600 million, giving him a net worth of a $1 billion.

I know he makes a lot off that damn Jordan Shoe’s, especially in the HOOD!