Michael Jordan has been added to the Forbes list of billionaires.
He owns the Charlotte Hornets, which saw its value increase from $410 million last year to $725 million this year after the Los Angeles Clippers’ $2 billion sale to Steve Ballmer.
Jordan’s stake in the team is worth $500 million, according to Forbes.
Jordan bought the team for $275 million in 2010. That is looking like a wise investment, especially considering the league’s massive new TV deal with ESPN and Turner. In the deal, which begins in 2016, the networks will pay the NBA an average of $2.66 billion per year. They paid about $930 million per year under the old deal. That works out to an extra $57 million in revenue per year for MJ’s Hornets.