Michael Jordan Becomes a Billionaire

Streeter Lecka/Getty Images(NEW YORK) -- Welcome to the billionaires club, Michael Jordan.

According to Forbes magazine, the former NBA star has officially crossed the coveted billion-dollar barrier by increasing his ownership stake in the Charlotte Hornets basketball franchise, going from 80 percent to 89.5 percent majority ownership of the team.

ABC News reached out to the Hornets, who confirmed that Jordan did increase his ownership of the team to said level back in January 2013.

With the Hornets valued at roughly $600 million, in addition to his current holdings and sponsorships, Jordan can add another quite considerable feather to his already illustrious cap.

Jordan’s business manager declined to comment on the report.

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