Since officially retiring from the NBA in 2003, Michael Jordan has gone on to have great success in the business world. In March 2010, Jordan became the majority owner of the Charlotte Bobcats (now called the Hornets), after four years as part of the team's ownership group and its Managing Member of Basketball Operations. Jordan is the first former player to become the majority owner of an NBA franchise. According to Reuters, the six-time NBA champion bought the Charlotte Hornets for $180 million, controlling 97 percent of the team's ownership.
