Archive for Michael Jordan

Michael Jordan Officially A Billionaire — Floyd Mayweather Top Earner In Sports

Posted in African Americans, Black America, Black Interests, Black Men, Money/Economics with tags , , on June 12, 2014 by Gary Johnson

Michael Jordan

By Black Men In America.com Staff

According to Forbes magazine, Michael Jordan is a billionaire.  Sources familiar with the Charlotte Hornets report that Jordan has increased his stake in his basketball team to 89.5% from 80% during the past several months.

Jordan became the controlling owner in the Hornets in 2010 when he bought out then owner Robert Johnson for $175 million.  The Hornets are reportedly worth between $600 million and $625 million.

Forbes estimates Jordan’s net worth in the neighborhood of $600 million.  The Hornets have $135 million of debt, which makes Jordan’s equity in the team worth $416 million.  After subtracting all the cash Jordan has invested in the team, sources at Forbes magazine estimate Jordan’s net worth outside of the Hornets to be $600 million, giving him a net worth of a $1 billion dollars.

Floyd Mayweather

In other athlete news, Floyd “Money” Mayweather, Jr. banked at least $25 million for each of his past nine bouts going back to 2007 when he defeated Oscar De La Hoya in the most watched fight in the history of boxing pay-per-view events.  Mayweather has earned almost $400 million since turning pro in 1996.

Mayweather earned $105 million during the past 12 months for 72 minutes of work in the ring for fights against Canelo Alvarez and Marcos Maidana putting him at the top of Forbes’ annual list of the world’s highest-paid athletes for the second time in three years.

Photo Credit:  Michael Jordan (cbssports.com), Floyd Mayweather (Sports Illustrated.com)

10 Wealthiest Black People in the World

Posted in African Americans, Black America, Black Interests, Black Men, Money/Economics with tags , , , , , , on November 29, 2011 by Gary Johnson

By Natalie Dawson

Billionaires and millionaires aren’t always white or oil barons.  African Americans can also throw down when it comes to wealth.  To prove it, we have listed ten of the wealthiest black people in the world below listed by current estimated worth.

  1. Aliko Dangote – Never heard of him?  Most Americans haven’t.  He is a businessman based in Nigeria and head man for The Dangote Group, which was founded in 1977 as a small firm.  Since then, it has substantially grown and earned Dangote himself an estimated worth of $13.8 billion.
  2. Mike Adenuga – He runs Conoil Producing, the first Nigerian company to strike oil in significant quantities during the early 1990s.  He is also the owner of the second largest mobile company in the country.  A true success story, he made his first million at age 26 by selling lace and soft drinks and is now worth $4.3 billion.
  3. Patrice Tlhopane Motsepe – He is another African and another billionaire.  His company is called African Rainbow Minerals and deals in gold, platinum, and other precious metals.  From South Africa, he was born royalty and became the first black partner in a local law firm in 1994.  His estimated worth is $3.28 billion.
  4. Oprah Winfrey – Her own show and now her own network took this small town reporter’s dreams to places girls of her generation never thought they could go.  By investing in herself and her own show, Oprah was able to create a wealth of $2.7 billion.
  5. Michael Jackson – His estimated worth is sketchy.  Although he made hundreds of millions of dollars from album sales alone, Jackson had a notorious spending habit that was also in the hundreds of millions.  However, he did purchase the rights to many Beatles songs, which are estimated to be worth between $500 million and one billion.  After his death, sales of his own music also spiked into the hundreds of millions.
  6. Jim Ovia – His nickname is “the godfather of Nigerian banking.”  He founded the Zenith Banking Group in 1990, and it became one of the largest financial services provider on the continent.  He also founded a mobile company and is estimated to be worth $775 million.
  7. Robert Johnson – If not for the recession, he would be higher on the list with over one billion dollars in net worth.  However, the founder of the BET network still enjoys a net worth of $550 million.
  8. Michael Jordan – The “air man” is most known for being one of the best players in NBA history.  It also didn’t hurt that his brand of clothing and especially shoes are still a top seller.  Between the endorsements, investments, and more, he is worth $525 million.
  9. Tiger Woods – As with Robert Johnson, if it wasn’t for his divorce and lost proceeds from a scandal, he would be farther up the list.  However, with an annual salary of $85 million, golfing legend Tiger Woods is still worth $500 million and is the youngest person on the list.
  10. Bill Cosby – Proving that you can make money by telling a simple, family oriented story is the legendary Bill Cosby.  Critics believed his show wouldn’t make it past year one when the comedian debuted it in 1984.  Over 25 years later, he is worth $450 million and rising.

Natalie Dawson owns the site Masters Degree. She enjoys writing articles about everything in the education field.

LeBron James Better Than Michael Jordan? I Don’t Think So?

Posted in Black America, Black Men, Gary A. Johnson, Sports News with tags , , , on May 15, 2010 by Gary Johnson

By Gary A. Johnson

I want to be as fair as I can to LeBron James. He came into the NBA as arguably the most hyped and talked about high school athlete of all time.  He did not pronounce himself “King James.” The media put that crown on his head and for the most part this young man has worn it well exceeding almost every expectation.

Looking back there were signs of intoxication.  James chose to wear the No. 23 jersey.  Now I understand that move was to pay homage to Michael Jordan, however, that only serves to fuel the conversation that LeBron James is declaring himself the next Michael Jordan.

In terms of his off the court business moves, LeBron is coming close to being a global icon, some would say he has achieved that goal.

I am here to tell you any argument or comparison of LeBron James to Michael Jordan needs to STOP right now.  After the last two seasons of being knocked out of the playoffs, and particularly the way the Cleveland Cavaliers were bounced from the NBA semifinals earlier this week, there is nothing to talk about.

LeBron and the Cavaliers quit in the fourth quarter of their last two games.  Their last performance was worse than choking in my view.  When you choke you’re at least trying.

LeBron James is a great player—throughout the regular season.  At this point in his career, LeBron James has morphed into an Avatar built for ESPN and other sports stations highlight reels.

Comparing LeBron James to Michael Jordon is cruel and not fair to LeBron.  In fact, it’s probably a borderline call to compare LeBron James to Kobe Bryant. Jordan and Kobe never quit.

This is not to say that years from now, when LeBron’s playing days are over that he won’t eclipse both Michael Jordan and Kobe Bryant, but from what I can see, it’s simply unfair to do that now.

Michael Jordan has six championship rings.  Kobe Bryant has four championship rings.  LeBron James has none.  At this stage of his career the only measuring stick for LeBron James is championship rings.  So the question in my mind is this:  “Can LeBron James win a championship in Cleveland, Ohio?”

The Cleveland Cavaliers team have tried to surround LeBron with a cast of players but this efforts have fallen short.  I think it’s time for LeBron to move on to another city and get motivated with the only challenge that is keeping him from true greatness—a NBA championship.

I don’t want to hear any comparisons of LeBron James to Michael Jordan, Kobe Bryant, Magic Johnson or any other great player until LeBron wins a championship.  Outside of that STFU!

Let’s just wait until LeBron’s career is over and then we can accurately reflect on his entire body of work and then discuss his place in NBA history.

Gary A. Johnson is the Founder & Publisher of Black Men In America.com a popular online magazine on the Internet and the Black Men In America.com Blog. Gary is also the author of the new book “25 Things That Really Matter In Life.

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