Michael Jordan

According to Forbes, Michael Jordan is now a billionaire due to an increase in his stake of the Charlotte Hornets to 89.5% from 80%. Sports bankers say the Hornets are presently worth between $600 million and $625 million USD. The Milwaukee Bucks sold for $550 million USD in May, and they are considered the least valuable team in the league. Forbes’ net worth figure for Jordan uses the $600 million figure. The Hornets have $135 million USD of debt, which makes Jordan’s equity in the team worth $416 million USD. After subtracting all the cash Jordan has invested in the team, they estimate his net worth outside of the Hornets to be $600 million USD, giving him a net worth of a $1 billion USD.

Just in time to end 2010 is the announcement of a 20 minute Michael Jordan documentary labeled, “Invincible”. The film is dedicated to Michael Jordan’s Career highlights. After collecting thousands of Jordan clips, Lk12 productions came up with the concept and and gathered his collection of (500+) minutes in clips and put it together for this short film. Keep on the look out for the release date. Trailer after the Jump.<!–more–>