NBA great Michael Jordan joins the billionaire club

A VERY well known sportsperson has just joined the billionaires’ club, according to Forbes. Who do you think is now worth 10 figures?

MICHAEL Jordan has joined the billionaires’ club.

According to Forbes, the NBA great reached the astronomical figure by increasing his stake in his basketball team, the Charlotte Hornets, from 80 per cent to 89.5 per cent in the past few months.

“Our net worth figure for Jordan uses the $600 million figure,” Forbes’ Mike Ozanian explained.

“Sports bankers say the Hornets are presently worth between $600 million and $625 million.

“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.”

Not bad at all.

Michael Jordan in action for the Chicago Bulls in 1997.

In what may come as a surprise, Jordan is not the first athlete to become a billionaire.

In 2009, Forbes reported golfer Tiger Woods achieved the honour at just 33 years of age.

“Forbes has been tracking athlete earnings since before Tiger turned pro,” the publication said at the time.

“Woods had earned a cumulative $895 million going into 2009, by our estimates, from prize money, appearance fees, endorsements, bonuses and his golf course design business.

“If you add his $10.5 million in 2009 prize money, the FedEx bonus and his take so far this year from his more than $100 million in annual off-the-course earnings, Woods’ career earnings are now 10 figures.”

Tiger Woods reached the billion-dollar mark in 2009, according to Forbes.