Basketball legend Michael Jordan is now a billionaire as former Chicago Bulls star increases stake in Charlotte Hornets

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Jordan won six NBA titles with Chicago Bulls during an illustrious playing career
He now owns NBA team Charlotte Hornets
Forbes Magazine estimates that Jordan is worth more than $1billion

Published: 01:59 EST, 13 June 2014 | Updated: 07:35 EST, 13 June 2014

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Basketball legend Michael Jordan has reached billionaire status.

Forbes Magazine estimates that Jordan's equity as owner of the NBA's Charlotte Hornets is $416million and his net worth outside of the team to be $600million. It reported Jordan now owns 89.5 per cent of the Hornets.

Jordan's spokeswoman, Estee Portnoy, confirmed that Jordan purchased an additional stake in the Hornets in January 2013, but wouldn't say how much.

VIDEO Scroll down to watch Michael Jordan sink a stunning chip during a golf match

Strike it rich: Former Chicago Bulls star Michael Jordan is now a billionaire, according to reports in America

Champion: Jordan was a six-time NBA winner with Chicago Bulls

Portnoy had no comment on whether or not Jordan is a billionaire.

A six-time NBA champion with Chicago Bulls, Jordan earned fame and fortune on the basketball court, as well as through endorsements and movies.

The 51-year-old 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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JohnnyG, Melbourne, Australia, 2 hours ago

Best basketballer, yes, sportsman, no. How did he go at baseball ?

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Divaldo, Lisboa, United Kingdom, 2 hours ago

Simply the greatest sportsman of all times, the only one that would make me wake up at 1, 2 o¿clock in the morning to watch him play. Thanks for all the great memories man.

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Km, Wales, 7 hours ago

#baller

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JohnnyG, Melbourne, Australia, 1 day ago

Best basketballer of all time ? No worries. Best sportsman ? No.

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ovolut, London, 2 hours ago

Federer is the greatest sportsman of all time!

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Sydneysider, In the land downunder, Australia, 1 day ago

I had the privilege to be living/working in Chicago and attended all the games when The Bulls won their three back to back titles. Mickey J is my hero. Thank you for the memories mate.