Michael Jordan officially a member of the Billionaire boys club

It was only a matter of time before this man reached billionaire status. Arguably one of the greatest basketball players turned businessman has officially reached a billie with after his stake in the now, Charlotte Hornets franchise, rising from 80% to 89%. Hip Hop Wired reports:

All those years of Michael Jordan peddling his own sneaker brand, Hanes underwear, Gatorade and everything else on store shelves have not been in vain.

The basketball legend’s net worth has reportedly eclipsed one billion dollars.

It was publicized that Jordan, 50, grossed $90 million alone in 2013 but it wasn’t his various endorsements and businesses that aligned his stock amongst the wealthy elite. According to findings by Forbes, it was Jordan’s increased stake in the returning Charlotte Hornets that got him there.

Mike Ozanian says that sources close to the Hornets organization say that Jordan’s stake in team quietly rose from 80 percent 89.5 percent over the past few months. Thanks to the struggling franchise being $135 million in debt, it gave MJ23 equity of $416 million. Tally up his existing net worth outside of the team to be around $600 million and voilà! A billionaire is born.