Michael Jordan’s net worth soars to record high following Hornets sale

Michael Jordan’s estimated net worth took a big jump after officially selling his majority stake in the Charlotte Hornets.

Chicago Bulls superstar Michael Jordan is still setting records long after retiring from the game of basketball. After selling his stake in the Charlotte Hornets this summer, Jordan set a new benchmark as the wealthiest NBA player in league history. Jordan’s net worth as of 2023 stands at $3.5 billion, according to Bloomberg.

It’s estimated Jordan walked away with nearly $2.7 billion by selling his majority position with Charlotte. After spending his youth and college years in North Carolina, Jordan became a co-owner of the Hornets in 2006. He served as the majority owner of the team since 2010 before agreeing to sell the team in 2023 to a group led by Gabe Plotkin and Rick Schnall. Shortly after the deal was finalized, Jordan penned a letter to fans posted on the team’s website.

“Now is the right time for me to hand over the reins and focus on my family, my personal interests and some new challenges. I’m excited to see what the future holds, and I look forward to supporting the team and the community in my new role for many years to come.”