Less than a month since Dr. Dre became hip hop’s first billionaire, Michael does the same for sports. And no his Jordan sales didn’t suddenly skyrocket, although that did help being that they topped $1 billion in annual revenue in 2009, making up five percent of Nike’s overall rev.
However, the first black sports billi decided to up his stake in his Charlotte Hornets from 80% to 89.5%. His stake in the former Bobcats equals to roughly $416 million and his outside ventures (i.e. Jordans) gives him 600 million already, you do the math. The six time NBA winner can officially dine with the statuses of Oprah and Dre—not that he wasn’t already.
Another reason to want to be like Mike.