Michael Jeffrey Jordan also famously known by his initials MJ is a former NBA (National Basketball Association) basketball player. He played for the Chicago Bulls and the Washington Wizards. Jordan has played a total of 15 seasons for the two teams. MJ is frequently referred to as the greatest basketball player of all time.
Recently Jordan made his debut in the Forbes list of billionaires with an estimated net worth of US$ 1 billion. Currently MJ is 1741st richest person in the world and 513th richest in the US. 52 year old Jordan’s entry into the Forbes billionaire list took place just after the basketball legend became the majority shareholder and owner of the NBA team: the Charlotte Bobcats. Apart from being an NBA owner Jordan has deals …show more content…
His leaping ability, which is an extremely important criterion in basketball, earned him the nicknames of “His Airness” and “Air Jordan”. MJ is also well-known for his product endorsements. He was the reason behind the success of Nike’s Air Jordan sneakers which were launched in 1985 and are still popular till date. The star basketball player also starred in the movie Space Jam.
How did Jordan’s wealth increase so exponentially?
According to Forbes the value of Jordan’s majority shares increased sharply when Steve Ballmer, ex-Microsoft CEO bought the NBA team Los Angeles Clippers for US$ 2 billion last year. This resulted in an increase in the value of all the NBA teams and Jordan’s stake was revalued to find that it’s now worth more than US$ 700 million.
Ballmer’s purchase of the Los Angeles Clippers opened the gates for three NBA owners to join the ranks of billionaires. Apart from Jordan, Chicago Bulls owner Jerry Reinsdorf and Houston Rockets owner Leslie Alexander also benefitted majorly from the purchase.
Jordan’s journey to being a …show more content…
After Forbes valued the Hornets at US$ 410 million and the much less impressive Milwaukee Bucks was sold for US$ 550 million, sports bankers estimated that the Hornets are presently worth between US$ 600 million to US$ 650 million. In order to calculate Jordan’s net worth Forbes considered the US$ 600 million figure and subtracted Hornets’ US$ 135 million worth of debt to arrive at US$ 416 million which constitutes Jordan’s equity in the team. But it was not all that easy in the beginning. When Jordan decided to buy and become the controlling owner of the Charlotte Hornets, the team was in a very bad shape, but Jordan with a long term perspective in his mind kept his patience and invested in the team. He knew that NBA is growing and will be prosperous and thus arrived at the sum of US$ 175 million which he thought was the perfect buying price for the
Recently Jordan made his debut in the Forbes list of billionaires with an estimated net worth of US$ 1 billion. Currently MJ is 1741st richest person in the world and 513th richest in the US. 52 year old Jordan’s entry into the Forbes billionaire list took place just after the basketball legend became the majority shareholder and owner of the NBA team: the Charlotte Bobcats. Apart from being an NBA owner Jordan has deals …show more content…
His leaping ability, which is an extremely important criterion in basketball, earned him the nicknames of “His Airness” and “Air Jordan”. MJ is also well-known for his product endorsements. He was the reason behind the success of Nike’s Air Jordan sneakers which were launched in 1985 and are still popular till date. The star basketball player also starred in the movie Space Jam.
How did Jordan’s wealth increase so exponentially?
According to Forbes the value of Jordan’s majority shares increased sharply when Steve Ballmer, ex-Microsoft CEO bought the NBA team Los Angeles Clippers for US$ 2 billion last year. This resulted in an increase in the value of all the NBA teams and Jordan’s stake was revalued to find that it’s now worth more than US$ 700 million.
Ballmer’s purchase of the Los Angeles Clippers opened the gates for three NBA owners to join the ranks of billionaires. Apart from Jordan, Chicago Bulls owner Jerry Reinsdorf and Houston Rockets owner Leslie Alexander also benefitted majorly from the purchase.
Jordan’s journey to being a …show more content…
After Forbes valued the Hornets at US$ 410 million and the much less impressive Milwaukee Bucks was sold for US$ 550 million, sports bankers estimated that the Hornets are presently worth between US$ 600 million to US$ 650 million. In order to calculate Jordan’s net worth Forbes considered the US$ 600 million figure and subtracted Hornets’ US$ 135 million worth of debt to arrive at US$ 416 million which constitutes Jordan’s equity in the team. But it was not all that easy in the beginning. When Jordan decided to buy and become the controlling owner of the Charlotte Hornets, the team was in a very bad shape, but Jordan with a long term perspective in his mind kept his patience and invested in the team. He knew that NBA is growing and will be prosperous and thus arrived at the sum of US$ 175 million which he thought was the perfect buying price for the