Basketball legend Michael Jordan gains $300 million as net worth hits $2 billion

Omokolade Ajayi -

Basketball legend and African-American billionaire Michael Jordan has seen a remarkable surge in his net worth, which has soared by $300 million over the past 24 days, propelling his total wealth beyond the $2-billion threshold.

According to data tracked by Forbes, Jordan, who is the first athlete to amass a billion-dollar fortune, has seen his net worth skyrocket by $300 million in the past 24 days, surging from $1.7 billion on Feb. 27 to a staggering $2 billion at the time of writing. The surge solidifies his standing as one of the world’s wealthiest Black billionaires.

The last time his net worth reached this level was in 2020 when he acquired an equity stake in the U.S. daily fantasy sports betting company DraftKings and joined the company’s board of directors. At the time, his net worth was estimated at $2.1 billion.

The $300-million bump in his net worth can be attributed to the strong performance of his diversified investment portfolio, which includes a majority stake in the Charlotte Hornets, a professional basketball team based in Charlotte, North Carolina, and a minority stake in DraftKings. This surge has propelled him from 1,729th to 1,482nd on the Forbes Richest List.

Michael Jordan could make $1 billion from Charlotte Hornets franchise sale

Recent reports indicate that Jordan is considering selling his majority stake in the Charlotte Hornets to a consortium led by Gabe Plotkin, a minority owner of the team, and Rick Schnall, a minority owner of the Atlanta Hawks.

If Jordan decides to go ahead with the sale, he could potentially earn a substantial profit on his initial investment of $275 million to acquire the franchise from Bob Johnson in 2010.

It should be noted that the deal is still in its early stages, and no assurances can be given at this time. Nevertheless, even if the sale does go through, Jordan is expected to retain a minority ownership interest in the Hornets and continue serving as a key executive and advisor for the team.