Air Billionaire? Michael Jordan Newly Named Billionaire

Michael Jordan has always been a man about his business, from having one of the most amazing basketball careers in history, to his lucrative shoe line, to the Jordan Brand Classic showcases, to being the majority owner of a basketball franchise. It has been reported by Forbes and USA Today that "His Airness" has went from a net worth of $750 million to a whopping $1 billion, a first for any basketball athlete. This all happened once he increased his stake his team, the Charlotte Hornets.

The Hornets, whose franchise began in 1985 with their iconic teal and purple uniforms, have re-inheireted their place in Charlotte this past May. In 2003, under previous African-American owner Robert "Bob" Johnson, the Charlotte team was named the "Charlotte Bobcats." On February 27, 2010,  Bob Johnson sold the team to Jordan for $175 million, which made Jordan the first former NBA player to become majority owner of a franchise.

Jordan who was first an investor of the Bobcats in 2006, had a reported net worth of $600 million before the increase. With the addition of ownership of the team and a raise in stakes, the team's net worth is an estimated $416 million, which raised Jordan's net worth to $1 billion! As of now a Forbes estimate of Jordan's Hornets is anywhere between $600-$625 million.

It seems like Mr. Jordan is coming into a lot of many these days from his popular shoes to his commercials with Hanes. The 51 year-old entrepreneur and 6x NBA Champion is still making headlines and setting the pace for young players to follow. So it leaves us to ask... Since Michael Jordan is the first basketball player to be named a billionaire, who do you think will be next?

Photo: USA Today Sports