Magic Johnson to Michael Jordan: 'Can I borrow some money?'
Make Forbes' billionaires list, and suddenly old friends come out of the woodwork.
For Michael Jordan, that apparently includes Magic Johnson.
What a nice sentiment. Then the other shoe dropped.
So do we, Magic. So do we.
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Forbes estimated Jordan's net worth at $1 billion in its latest list, which was released Monday, noting "most of his cash comes from Nike payouts on his iconic brand." The Jordan brand grossed an estimated $2.25 billion in 2013, and Jordan reportedly netted about $90 million.
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His stake in the Charlotte Hornets is his most valuable asset, as the team is worth more than $500 million. A season after making the playoffs for the first time since 2009-10, the Hornets unveiled their rebranding that ditched the "Bobcats" nickname and resurrected the team's beloved purple, teal and white color scheme.
Entering Tuesday, Charlotte was a half-game out of the Eastern Conference playoff race.
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As for Magic? He is, of course, doing just fine himself. According to a December story in Fortune, his net worth is about $500 million.
- Mike Fiammetta