MJ now 1,477th wealthiest person on the planet.
Michael Jordan's net worth has reportedly jumped an additional $350 million in the last 12 months, brining his total up to a whopping $1.65 billion, according to Forbes.
That increase can largely be contributed to the Charlotte Hornets, the NBA franchise that MJ invested in back in 2006. Four years after that initial investment, Jordan become the controlling owner of the team when he bought out Robert Johnson for $175 million, and he now owns roughly 90% of the franchise.
Forbes reports that the soaring team value, which was estimated at $1.05 billion in February, and the continued success of Nike's Jordan Brand pushed His Airness' net worth to $1.65 billion on Forbes’ billionaires' list. Given the $350 million increase over the last 12 months, MJ now ranks as the 1,477th wealthiest person in the world, which is up 90 spots from last year.
According to the Charlotte Business Journal, Jordan benefitted from the Hornets’ new TV deal with FS Southeast that will officially kick off next season. "Starting next season, Fox will pay the Charlotte Hornets an annual rights fee in the low-to-high $20 million range, up from about $14 million this season," sources said.
While the Hornets are padding Jordan's pockets, they're in the midst of another losing season and will miss the playoffs for the second consecutive season. At 34-41, Charlotte is currently slated to pick 11th in the NBA Draft this June.