According to Forbes, Michael Jordan is now a billionaire after increasing his stake in the Charlotte Hornets. Michael Jordan has raised his stakes in his basketball team to 89.5% from 80% during the past several months. Michael Jordan first became an investor in the Hornets (then the Bobcats) in 2006 and became the 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. Read the full story right here
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