Looks like Michael Jordan is the most famous rookie on Forbes world list of billionaires joining other NBA owners, thanks to his investment in Charlotte Hornets.
Former professional basketball player Michael Jordan, and some other NBA owners, have reached new heights, landing on Forbes world list of billionaires. According to CNN, Jordan is one of the 290 newly-minted billionaires on Forbes annual list of the world's richest people. Forbes released its list on Monday, March 2 and noted that Michael Jordan's net worth is estimated at a staggering $1 billion as a result of his well-timed investment in Charlotte Hornets.
A list released by Forbes Magazine revealed that Steve Ballmer is listed as the world's 35th wealthiest billionaire for 2015, according to Chron. Texans owner Bob McNair as well as Rockets owner Leslie Alexander both made the cut. Jordan was a newcomer on the list.
CNN points out that Jordan garnered his $1 billion fortune through his endorsement deal with Nike (NKE). Back in 2013, the Jordan brand by Nike brought in an estimated $2.25 billion, which according to Forbes, earned Jordan a whopping $90 million.
According to The New York Times, Los Angeles Clippers, Ballmer, tops the list of sport-related billionaire with a net worth of $21.5 billion. After ex-Microsoft CEO bought the Clippers for $2 billion, the net worth of NBA franchise values increased this past year. Forbes Magazine listed owner of Houston Rocket's net worth at $6.1 billion while Chicago Bull's owner and Jordan's old boss Jerry Reinsdorf is listed at $ 1.3 billion. While Jordan and Reinsdorf are both newcomers, Alexander returned for the first time since 2007.
Jordan's biography on the NBA website states: "By acclamation, Michael Jordan is the greatest basketball player of all time," and who wouldn't agree to that? The 52-year-old athlete, a Hall of Fame player won six NBA championships with Bulls. Jordan reached another milestone when he earned the billionaire status last June, according to Forbes. The New York Times noted that this is Jordan's first year on Forbe's annual list which typically is released in March.
Last June, Forbes listed MJ's equity as owner of the Hornets at $416 million and his net worth outside of the team to be $600 million. Jordan acquired the majority stake in Hornets in 2010 for $175 million.
According to Forbes, NFL owners to make the list include Jerry Jones, (Cowboys, $4.2 billion), Robert Kraft (Patriots, $4.3 billion), Stanley Kroenke (Rams, $6.3 billion) and Stephen Ross (Dolphins, $6.5 billion). Seahawks owner, Paul Allen is among other notables of sports-related billionaires, worth $17.5 billion.
