Forbes has announced Brooklyn born NBA legend, Michael Jordan has just entered the billionaires club. The retired Chicago Bulls superstar player, turned partial owner of the Charlotte Hornets annual income is around $90 million and his net worth is at $750 million but that is expected to increase due to his increased stakes with the Charlotte Hornets.

So no, it is not due to the countless number of Jordan brand sneakers that millions continue to buy. You would have suspected that to make him a billionaire years ago, but it has not.

This is how Forbes described he entered the billionaires club:

Jordan first became an investor in the Hornets (then the Bobcats) in 2006 and became the controlling owner in 2010 when he bought out Robert Johnson for $175 million. Sports bankers say the Hornets are presently worth between $600 million and $625 million. The Milwaukee Bucks sold for $550 million in May, and they are considered the least valuable team in the league.

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Our net worth figure for Jordan uses the $600 million figure. The Hornets have $135 million of debt, which makes Jordan’s equity in the team worth $416 million. After subtracting all the cash Jordan has invested in the team, we estimate his net worth outside of the Hornets to be $600 million, giving him a net worth of a $1 billion.

With his new wife and family and now a reported annual salary of $90 million, I wonder what it is that you do next.

Billionaire problems.