Michael Jordan does not own the Charlotte Hornets anymore, nor did he ever own 100 percent of the franchise. He initially purchased a minority stake in the team in 2006 and later acquired a controlling majority stake in 2010. However, in August 2023, Jordan officially finalized a massive transaction selling his majority control to a new ownership group led by Gabe Plotkin and Rick Schnall. While he retained a small minority ownership share in the organization, his thirteen-year era as the primary majority governor of the franchise officially concluded.