Home » Michael Jordan made $1.8 billion in 2023 thanks to Hornets sale

Michael Jordan made $1.8 billion in 2023 thanks to Hornets sale

Jordan joins exclusive ranks of top Black billionaires, securing sixth spot globally

by Omokolade Ajayi
Michael Jordan

Basketball icon Michael Jordan, hailed as the greatest NBA player of all time, concluded 2023 on a triumphant note as his fortune experienced an impressive surge, reaching nearly $2 billion, solidifying his status among the world’s wealthiest Black billionaires.

According to the Bloomberg Billionaires Index, which tracks the fortune of the world’s wealthiest individuals, Jordan saw his net worth surge by $1.8 billion throughout 2023, from $1.7 billion on Jan. 1, his fortune reached an astounding $3.5 billion on Dec. 31 — although Forbes estimates a slightly lower figure at $3 billion.

Jordan’s power play: $3-billion game-changer as Hornets majority stake changes hands

The primary driver behind the substantial increase in Jordan’s wealth throughout 2023 was the sale of his controlling stake in the Charlotte Hornets, a professional basketball team.

The transaction, valued at $3 billion, marked the end of Jordan’s decade-long tenure as the principal decision-maker for the franchise. This sale price represented nearly 17 times the value of the franchise when Jordan assumed majority ownership in 2010.

In 2020, Jordan had previously sold a minority stake in the Charlotte Hornets to Gabe Plotkin and Daniel Sundheim. The recent sale of the majority stake further solidifies Jordan’s impact in the NBA — extending beyond his celebrated on-court career.

Michael Jordan joins exclusive ranks of top Black billionaires, securing 6th spot globally

With a net worth of $3.5 billion, Jordan now ranks among the world’s 1,000 richest individuals. He ranks 1,059th on Forbes’ list of the world’s wealthiest people. Among Black billionaires, only five individuals globally surpass Jordan’s financial standing.

Jordan has joined the ranks of the world’s wealthiest Black individuals, claiming the sixth position alongside notable figures such as Aliko Dangote, Robert F. Smith, David Steward, Abdul Samad Rabiu, and Mike Adenuga.

According to Bloomberg, Jordan’s $3.5-billion fortune makes him the sixth-richest Black individual globally, surpassing icons such as Oprah Winfrey, hip-hop mogul Jay-Z, and Africa’s first Black billionaire, Patrice Motsepe.

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