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Michael Jordan is a billionaire, according to Forbes Magazine

MEDINAH IL - SEPTEMBER 28:  Michael Jordan waits first tee during Morning Foursome Matches for The 39th Ryder Cup

MEDINAH, IL - SEPTEMBER 28: Michael Jordan waits on the first tee during the Morning Foursome Matches for The 39th Ryder Cup at Medinah Country Club on September 28, 2012 in Medinah, Illinois. (Photo by David Cannon/Getty Images)

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Updated: June 12, 2014 6:13PM

CHARLOTTE, N.C. — 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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