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CHARLOTTE, NC – NOVEMBER 5: NBA Legend and Charlotte Hornets Owner, Michael Jordan looks on during a game between the Indiana Pacers and the Charlotte Hornets on November 5, 2019 at Spectrum Center in Charlotte, North Carolina. (Photo by Brock Williams-Smith/NBAE via Getty Images)
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CHARLOTTE, NC – NOVEMBER 5: NBA Legend and Charlotte Hornets Owner, Michael Jordan looks on during a game between the Indiana Pacers and the Charlotte Hornets on November 5, 2019 at Spectrum Center in Charlotte, North Carolina. (Photo by Brock Williams-Smith/NBAE via Getty Images)
Michael Jordan is one of the richest athletes in the world and he is also the owner of the Charlotte Hornets. He was an investor in 2006 and he later bought out the owner in 2010. Jordan is the world’s first athlete billionaire and his acquisition of the Hornets helped him reach that mark.
The value of the Charlotte Hornets has increased multiple times since Jordan bought them. When he became the majority owner of the team, the Hornets were valued at $175 Million. The deal included the rights to the arena, and it also included the debt the team was in. When Jordan sold a minority stake in 2019, the team was valued at $1.3 Billion. This meant that Jordan had multiplied his investment over 7 times.
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SONOMA, CALIFORNIA – JUNE 06: NBA Hall of Famer Michael Jordan and co-owner of 23XI Racing waits in the #23 DoorDash Toyota pit area prior to the NASCAR Cup Series Toyota/Save Mart 350 at Sonoma Raceway on June 06, 2021 in Sonoma, California. (Photo by Maddie Meyer/Getty Images)
Michael Jordan adds over $800 Million in 9 years
When Jordan bought the Hornets back in 2010, he was one of the richest athletes of all time, but not the richest. As time passed on, the value of the Hornets kept on increasing. It reached a point where Jordan’s net worth crossed a billion, the first athlete to ever earn a billion dollars.
Furthermore, the value kept skyrocketing, which propelled Jordans’ net worth to over 2 billion. All in all, the investment in the Hornets is set to have added over $800 Million to Jordan’s wealth in 9 years.
In contrast, the net worth of LeBron James is reported to be $500 million. Jordan has earned much more than that with only his investment with the Hornets. Jordan also has various other investments, his shoes which still earn him millions to this day, endorsements, and so on. But none of them have added as much value as the Charlotte-based team.
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Michael Jordan during Michael Jordan Hosts 2005 Jordan Classic Dinner – April 14, 2005 in New York, New York, United States. (Photo by Johnny Nunez/WireImage)
Even though they suffered a few horrible years when Jordan took over, the Hornets have slowly started to improve as the years went on. They reached the playoffs in 2014 and 2016 but were bounced out by the Miami Heat both times. They have a young team now, led by LaMelo Ball. Jordan will hope that they can achieve on-court success just like they have done off the court for his net worth.
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