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Michael Jordan Is a Billionaire EntertainmentEntertainment NewsThe SceneA Listed: Luxury Real EstateWorth the Trip: California TravelGeorge to the RescueOpen HouseBreakfast With Open House1st LookCOZI TVTalk StoopLIVE TVON NOWTrump Plan Promises Huge Tax Cuts, But Big Questions RemainLaw Order: Special Victims UnitON DEMANDNBC on DemandWatch the latest full episodes of your favorite NBC series anytime and anywhere.Click for full scheduleGetty Images for Michael Jordan Celebrity InvitationalMichael Jordan arrives at the 13th annual Michael Jordan Celebrity Invitational gala at the ARIA Resort nike equality shirt Casino at CityCenter on April 4, 2014 in Las Vegas, Nevada.Welcome to the big leagues, Michael Jordan.The acclaimed athlete is now a billionaire, according to Forbes. The magazine estimated that Jordan's equity as owner of the NBA's Charlotte Hornets is $416 million and his net worth outside of the team is $600 million. According to Forbes, the 51 year old basketball player now owns 89.5 percent of the team.Jordan bought an additional stake in the Hornets in January 2013, but the cost has not been revealed. The Olympic gold medalist's rep had no comment regarding Jordan's reported status as a billionaire.Jordan invested in the Hornets in 2006, and he became the controlling owner in 2010 after buying out Robert Johnson for $175 million. The team is reportedly worth between $600 million and $625 million.Top Celeb Pics: 'This Is Us' Season Two Premiere Red CarpetIn addition to his nike quai 54 stellar career on the court, Jordan has promoted a number of brands over the years. He has been a major spokesman for Coca Cola, Gatorade, Hanes, McDonald's, Nike, Wheaties and more.NEWS: Why Michael Jordan felt racist "against all white people" growing upLast year, Jordan married model Yvette Prieto at Bethesda by the Sea Episcopal Church in Palm Beach, Fla. The newlyweds welcomed identical twin daughters, named Victoria and Ysabel, in February 2014. The "Space Jam" star also has three children with his nike x vlone ex wife, Juanita Vanoy: Jeffrey, Marcus and Jasmine.