BET Money Ain’t Sure Money?

Word on the curb is BET co-founder and the country’s first black billionaire might need to get Cash4Gold on the horn, STAT.

Sources say Michael Jordan’s purchase of Johnson’s Charlotte Bobcats team is a sign that Johnson’s money is funny. These sources say Johnson is in desperate need of cash. The sale of his NBA team was reportedly sparked by a need for liquidity to fund his other investments. One person close to the situation says Johnson “put up a lot of cash and he’s nearly lost it all.”

Johnson’s fortune was estimated at $400 million but a huge part of that went to his ex-wife, and BET co-founder, Sheila. (Sidebar: Ya’ll know she's now married to the judge who handled their divorce, right? Gangsta move.)

Anyway, Johnson is involved in a number of businesses that require upfront cash (no CODs up in this piece), like hotels and whatnot. So he needs a serious cashflow to stay afloat.

Damn.

Source