Billionaires



October 21, 2019,   5:59 PM

This Billionaire Has Donated $7M To Open Up Medical Clinics

Jamila Gandhi

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Image source: Novant Health

Former NBA star and billionaire Michael Jordan inaugurated his $7.2 million comprehensive healthcare facility in his hometown of Charlotte, North Carolina in the US, on Thursday.

The 56-year-old’s commitment to open two Novant Health Michael Jordan Family Clinics was first announced in 2017. Two years later, one of two clinics is now ready to serve some of the most at-risk and underserved communities in Charlotte with 12 serviced patient rooms. Novant Health is a non-profit healthcare system serving patients and communities in North Carolina, South Carolina, Virginia and Georgia. The company was ranked in the Best Employers for Diversity 2019 list by Forbes. The second medical clinic is on track for completion late next year.

Together the two clinics will be destinations for primary care, social work, behavioral, oral health and physical therapy services to an estimated 35,000 children and adults over the next five years. Novant Health reveals that currently more than 100,000 Charlotteans don’t have health insurance. The clinic has the potential to decrease emergency room utilization by 68% and decrease hospitalization by 37% for the residents of nearby neighborhoods.

Despite being an active philanthropist, this donation to healthcare marks as one of Jordan’s single largest local donations to date. For the billionaire, the funding is his way of giving back to his home turf. “I can never repay what you have given to me. But this is a start,” he said in a speech. In 2010, Jordan bought a majority stake in his hometown’s Charlotte Hornets for a grossed-up value of $175 million after four years as a minority investor. The team is currently worth $1.3 billion, pushing Jordan’s net worth to $1.9 billion.

Over the last 12 months, Jordan has also made seven-figure donations to the American Red Cross, Make-A-Wish, Friends of the Children and more charities. During his career, the athlete totaled $90 million in playing salary, but also earned another $1.4 billion (pre-tax) from corporate partners.



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