J. Cole has officially become an NBA team owner as the rapper recently purchased a minority stake in Charlotte Hornets, but what is his net worth in 2023?
On June 16, it was confirmed that Michael Jordan had signed a deal to sell the majority of his share in Charlotte Hornets.
J. Cole was one of the people who purchased the minority stake in the team as well.
J. Cole’s net worth in 2023 explored
As per reports, he has an estimated net worth of $60 million. The rapper first became known in the music industry when he released his mixtape in 2007.
Shortly after the release his life completely changed as he was contacted by Jay-Z and was signed by his label. In 2009, he ended up releasing his second and third mixtapes.
Both of these were an instant success and helped him mark his name in the industry. He eventually ended up releasing his debut studio album called Cole World: The Sideline Story in 2011.
His fanbase helped the album soar high in all charts and attain platinum status. His subsequent albums also received the same amount of love.
Since then, J. Cole is considered to be one of the most notable rappers in the industry.
A look at his Charlotte Hornets deal
On June 16, it was confirmed that Jordan sold the majority of his stake to the Buyers Group which consisted of investors Gabe Plotkin and Rick Schnall, as well as J. Cole.
Singer Eric Church is also one of the minority stakeholders. This is the rapper’s first purchase when it comes to owning an NBA team.
We won’t be surprised if the recent purchase comes as a good return on investment for the rapper as Jordan experienced the same when he sold his majority stake in the team.
What we know about Michael Jordan’s deal
Jordan reportedly sold his stake for an estimated price of $3 billion. This comes as a huge return on investment as the basketball player had paid $275 million when he first purchased the shares in 2010.
He is expected to continue to enjoy a minority stake in the team while also being a part of the franchise.
Apart from this, no other details regarding the terms of the contract have been disclosed.
The post J. Cole officially becomes an NBA team owner as he buys minority stake in Hornets appeared first on HITC.
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