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

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

It’s estimated Jordan walked away with nearly $2.7 billion in moving on from 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.”

Jordan also directly thanked the fans in Charlotte in his letter. He will remain a minority owner of the team, maintaining a 5% stake in the club.

“I want to say thank you to Hornets fans for all the love and dedication you’ve shown the franchise and to me over the years,” Jordan wrote. “We’ve had some unforgettable moments together, as well as a few challenging ones, but through it all, you’ve remained committed to us.”

Jordan has been an astute businessman since joining the NBA. His sneaker brain now does $5 billion in annual business for Nike of which Jordan himself earns nearly $256 million per year. He’s also invested in NASCAR, online gambling, food and beverage, and more.

Story originally appeared on Lonzo Wire