Michael Jordan is worth $3.5 billion after selling Hornets

According to CNBC, Michael Jordan's net worth has reached $3.5 billion after selling the Hornets for $3 billion, making him the richest basketball player in history.

Jordan, 60, recently sold a majority stake in the Hornets for $3 billion. Jordan left less than 5% of the Hornets.

On June 15, 2006, Jordan bought part of the shares of the Hornets (then called the Bobcats) and became the team's second largest owner, and entered the basketball operations management of the Hornets' board of directors. In 2010, Jordan spent $275 million to acquire the shares of Hornets owner Bob Johnson, becoming the team's largest shareholder. Jordan also became the first player retired by an NBA team owner.