Michael Jordan is one of the richest former athletes in the entire world. Overall, his net worth is currently over $2 billion, which is definitely a lot. There are a few factors for his wealth. Firstly, you have the savings from his playing career. Although, these are a drop in the bucket compared to how much money he made everywhere else. Secondly, Jumpman is a billion-dollar company that brings in massive profits every single year. Lastly, you have his assets, notably the Charlotte Hornets, who are worth over $1.5 billion at this point.
Jordan purchased the Hornets back in 2010 for a price of $250 million. Since that time, his investment has sextupled. This is a huge unrealized gain that would make any investor smile with glee. Now, however, Jordan could very well be looking to turn that unrealized gain into a realized one. According to ESPN's Adrian Wojnarowski, MJ is thinking about selling his stake in the team.
Michael Jordan Made A Solid Investment
At this juncture, it should be noted that Jordan has yet to actually make any final decisions. Instead, he is simply waiting to see what he should do next. There are a few options in terms of buyers. One such person is Gabe Plotkin, who currently boasts a minority stake in the franchise. Overall, this would be a massive sale that could definitely shake up the league. After all, Jordan has been criticized in the past for not being the best owner. His decisions in the front office have oftentimes perplexed fans.
If he does decide to sell the team, it will be interesting to see what happens with 23XI Racing. This is Jordan's NASCAR team that he part-owns with NASCAR driver Denny Hamlin. Moreover, Bubba Wallace and Tyler Reddick are his two drivers. Either way, this is a developing story that we will continue to follow over the coming weeks and months. Let us know what you think about the situation, down below.
[Via]