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Michael Jordan's Net Worth Soars To $1.65 Billion

Michael-Jordan

The NBA regular season is coming to a close, with only two weeks left, the Charlotte Hornets have minimal chances of Playoff contention. In an interview with the Charlotte Observer, Hornets All-Star Kemba Walker voiced his frustration about missing the playoffs this season:

“At this point, I want to win. I want to be in the playoffs. I’m tired of not being in the playoffs. I hate watching them on TV.

“I’ve always felt like I’m a winning player. Like I deserved it to be in the playoffs – to be battling”

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Hornet's elimination from the Playoffs race would mark the 11th time missing the playoffs in 14 seasons since the franchise was reborn in 2004.

Although MJ hasn’t had much success with the Hornets in terms of Playoff contention and winning championships — the Hornets have been an absolute slam dunk for Jordan as an investment.

Jordan started off as a minority investor in the club back in '06. He then paid a grossed-up value of $175 million in 2010 along with the promise to fund tens of millions of dollars in future operating losses. The Hornets were valued in February at $1.05 billion, including $150 million in debt. Jordan owns approximately 90% of the team.

The rising team value and continued success Jordan Brand propelled Jordan’s net worth to $1.65 billion. According to Forbes, Jordan ranks as the 1,477th wealthiest person in the world, up 90 spots from last year.

Every NBA team is now worth at least $1 billion for the first time due to soaring TV contracts, owner-friendly labor deal, and the best international growth prospects of any major U.S. sports league. The average NBA franchise value has tripled over the past five years to $1.65 billion.

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