Author Topic: Forbes: Michael Jordan just became a billionaire  (Read 1170 times)

Offline Reginald Hudlin

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Forbes: Michael Jordan just became a billionaire
« on: March 15, 2015, 09:53:24 am »
Forbes: Michael Jordan just became a billionaire

By: CHRIS CHASE   June 13, 2014 9:11 am ET   

You can add another zero to Michael Jordan’s net worth.

According to Forbes, the basketball Hall of Famer, shoe magnate and NBA owner is now the only athlete in the billionaire’s club.

The financial magazine’s estimates show that Jordan crossed the threshold from super rich to insanely wealthy, as his stake in the Charlotte Hornets (isn’t that so much better to read than “Charlotte Bobcats?) recently increased from 80% to 89.5%. Given the 2014 sale prices of the Milwaukee Bucks ($550 million) and Los Angeles Clippers ($2 billion), Forbes now estimates Jordan’s Hornets are worth between $600 million and $625 million.

Mike Ozanian writes:

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.

As with all valuations, this is an estimate. It’s not as if there’s a running tally of the money in Jordan’s Bank of America account and, voila, he just hit nine zeroes in his checking. It’s all an educated guess. Plus, Forbes valued the Los Angeles Clippers at $575 million at the start of this year and the team sold for almost four times as much. Maybe Jordan is even richer than they think.

So is MJ the first billionaire athlete? Sort of. In September 2009, Forbes bestowed that title upon Tiger Woods. Two months later, Tiger crashed his Escalade and began his fall from grace. He’s not currently listed on Forbes‘ comprehensive list of the world’s billionaires.

Offline Battle

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Re: Forbes: Michael Jordan just became a billionaire
« Reply #1 on: February 14, 2020, 02:46:42 pm »
Friday, 14th February 2o2o
Michael Jordan, LeBron James basketball card sells for record $900K at auction
by Chris Bengel

Sports trading cards can often have a large amount of value if you get one that is very rare.

According to TMZ Sports, one featuring two of the most prominent players in NBA history has sold for a staggering amount.

A rare card of Michael Jordan and LeBron James with an NBA logo patch and pieces of game-worn jerseys from both players was sold for a whopping $900,000 by Ken Goldin of Goldin Auctions at a private sale earlier this week.

It's now officially the most expensive basketball card ever.

The card was part of Upper Deck's 2003-2004 "Exquisite Collection," and includes actual NBA patches from game-worn jerseys that James and Jordan wore.

While there is a Bulls logo on the Jordan side of that card, it's actually a piece of his Wizards jersey, according to Yahoo Sports.

What makes it so rare is that it's the only card of its kind that exists in the entire world.

The $900,000 price tag beats out a 1969-1970 Topps Lew Alcindor card that sold for around $500,000 in 2016.

The card is also now the most expensive piece of merchandise featuring James or Jordan, according to TMZ.

"We are proud to report that this sale nearly doubled that price and joins the famed 1952 Topps Mickey Mantle rookie card and classic T206 Honus Wagner card as the only trading cards to ever reach this level," Goldin said.

The James and Jordan card is an absolutely rarity and it's truly staggering that it outsold the Alcindor one by $400,000.

The owner that purchased the card certainly has to be beaming with pride and will likely want to display such a card.