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The legendary Michael Jordan is officially a billionaire. Yes, we’re all wondering why this is JUST happening.

According to Forbes, Jordan who estimates $90 million a year in gross income has just increased his stakes in the Charlotte Hornets from 80 percent to 89.5 percent. His equity in the NBA team is reportedly now worth $416 million in addition to him currently being worth an estimated $750 million and there you have it, the first athlete to become a billionaire- kind of.

In 2008, Tiger Woods became the first athlete to become a billionaire. two months later, Woods crashed his Escalade and fell from grace (or something of that sort).

Jordan is now the second wealthiest African-American, trailing behind Oprah Winfrey.

Congrats on increasing your fortune Mr. Jordan!

Billionaire Status: Michael Jordan Increases Stake In Charlotte Hornets  was originally published on