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Forbes Magazine: Jordan joins billionaire club

Thursday - 6/12/2014, 6:56pm  ET

Michael Jordan puts his hands in cement to leave hand prints in the court yard of Hornets Nest Elementary School as a part of the Hornets all-staff Day of Service on Monday, June 9, 2014. (AP Photo/The Charlotte Observer, Isabella Bartolucci)

CHARLOTTE, N.C. (AP) -- Michael Jordan has reached billionaire status.

Forbes Magazine estimated Thursday that Jordan's equity as owner of the NBA's Charlotte Hornets is $416 million and his net worth outside of the team to be $600 million. It reported Jordan now owns 89.5 percent of the Hornets.

Jordan's spokeswoman Estee Portnoy confirmed to The Associated Press that Jordan purchased an additional stake in the Hornets in January of 2013, but wouldn't say how much.

Portnoy had no comment on whether or not Jordan is a billionaire.

A six-time NBA champion, Jordan earned fame and fortune on the basketball court, as well as through endorsements and movies. The 51-year-old Jordan became the majority owner of the Hornets (formerly the Bobcats) in 2010 when he bought out Bob Johnson's share of the team.

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