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How the Clippers made Jordan a Billionaire

Michael Jordan is known as the greatest basketball player ever. Nike jumped on board and made his brand one of the most recognizable in the world and now Jordan has cracked Forbes annual billionaires list, but not because of any of that.

According to Business Insider, the average NBA Franchise Value went through the roof in 2015

According to Business Insider, the average NBA Franchise Value went through the roof in 2015

Jordan is number 1741 on the billionaires list with a net worth of $1 billion, and that is all because of the Los Angeles Clippers. When former Microsoft CEO Steve Ballmer purchased the Clippers in August for a massive $2 billion, the price of an NBA team sky rocketed.

Jordan has been the owner of the Charlotte Hornets since he bought the team in 2010 paying $275 million for 80% of the team.

Jordan was apart of the Hornets’ front office since 2006 when they were still the Charlotte Bobcats and was later changed to the former name the Hornets

According to Forbes.com, Jordan’s partnership with Nike made $2.25 billion last year and MJ took home an approximate $90 million of that.

Jordan is one of 290 new billionaires to be added to the list including NBA owners Jerry Reinsdorf – $1.3 billion – of the Chicago Bulls and Leslie Alexander – $1.6 billion – of the Houston Rockets.

Photo Credit: Getty Images

Kevin Bridge

Owner at The Backfield Press
I am an undergraduate student at the University of Tennessee majoring in journalism and electronic media. I am the founder of The Backfield Press.