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WILMINGTON, NC (WWAY) — Everyone knows Michael Jordan is rich, but now it looks like the Wilmington native is truly in rare air.

Forbes.com reports the basketball legend is now a billionaire. Mike Ozanian at Forbes reports the new status comes as Jordan has upped his ownership stake in the NBA’s Charlotte Hornets. In February, a Forbes writer reported Jordan’s annual earnings at $90 million and his net worth at $750 million. But Ozanian says he has learned from sources that Jordan has increased his stake in his basketball team to 89.5 percent from 80 percent during the past several months.

Jordan graduated from Laney High School before a standout career at UNC and a Hall of Fame career with the Chicago Bulls and Washington Wizards.

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