On Aug. 3rd, Michael Jordan sold his majority stake in the Charlotte Hornets franchise to Rick Schnall and Gabe Plotkin.
He made approximately $3 billion, the second-highest sale price in league history and almost 17 times what Jordan had paid for it.
With an estimated $3 billion net worth, he became the richest athlete to join the billionaire list, where only two others have been so far.
He earned around $90 million during his basketball career and around $2.4 billion in partnerships with brands like Nike, Hanes, and Gatorade.
He makes $200 million annually from Nike royalties alone, and he has also co-owned a NASCAR team since 2020, which is likely to be his focus from now on.
Despite his stake, Jordan's success never rubbed off on the Charlotte Hornets, as the team never found the success it had hoped for.
Jordan sold 20% of his stake to Plotkin and Sundheim in 2019 at a $1.5 billion valuation. He still owns a 5% stake in the team according to Bloomberg.
His diverse investments have included car dealerships, restaurants, and a premium tequila brand, apart from DraftKings and Mythical Games.