On This Day - What happened 15 June 2006 AD

On June 15, 2006, Jordan bought a minority stake in the Charlotte Bobcats, becoming the team's second-largest shareholder behind majority owner Robert L. Johnson. As part of the deal, Jordan took full control over the basketball side of the operation, with the title "Managing Member of Basketball Operations".

On June 15, 2006, Gates announced that over the next two years he would transition out of his day-to-day role to dedicate more time to philanthropy. He divided his responsibilities between two successors when he placed Ray Ozzie in charge of day-to-day management and Craig Mundie in charge of long-term product strategy.