Is Michael Jordan the NBA's newest billionaire?

theGRIO REPORT - NBA legend and owner of the Charlotte Hornets Michael Jordan is reportedly now a billionaire.

Luther Vandross was outed as gay after his death.

NBA legend and owner of the Charlotte Hornets Michael Jordan is reportedly now a billionaire.

According to Forbes’ Mike Ozanian, Jordan increased his ownership stake with the Hornets from 80 percent to 89.5 percent, pushing his net worth to the $1 billion mark.

Fellow Forbes writer Kurt Badenhausen reported earlier this year that Jordan made $90 million in 2013 alone, citing the Hornets, the Jordan Brand and other endorsements as contributors.

The Hornets are reportedly worth between $600 and $625 million.

Combining his portion of the Hornets and his net worth outside of the franchise, Jordan is worth about $1 billion.

Head to Forbes to find out more on Jordan’s earnings.

Follow Carrie Healey on Twitter @CarrieHeals

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