Michael Jordan Among Newest Billionaires In Latest Forbes List

By @EntengBulagting on
Charlotte Bobcats owner Michael Jordan
Charlotte Bobcats owner Michael Jordan watches as his team plays against the Chicago Bulls during the first half of their NBA basketball game in Charlotte, North Carolina February 22, 2013. Reuters/Stringer

Michael Jordan, arguably the best basketball player the world has seen, accomplished another personal feat after being included in the list of billionaires by Forbes magazine. The former Chicago Bulls shooting guard joins the prestigious list which includes 290 other new billionaire personalities.

The 52-year-old 6-time National Basketball Association, or NBA, champion accomplished the rare feat in June when he increased his majority ownership stake in the Charlotte Hornets. Dating back to March 2010, Jordan shelled out almost $300 million to purchase around 80% ownership of the club. That number has now increased to almost 90% making the former 5-time Most Valuable Player the 18th owner of an NBA team to be tagged as a billionaire.

“Forbes first outed Jordan as a billionaire last June. Most of his cash comes from Nike payouts on his iconic brand. The Jordan brand grossed an estimated $2.25 billion in 2013, earning his Airness some $90 million,” Dan Alexander of Forbes pointed out where most of Jordan’s revenue came from.

While his continued partnership with shoe giant Nike is an assured treasure trove, his ownership of the Hornets proves to be his most bankable source of income. The Hornets franchise is estimated to be north of $500 million and with NBA franchises skyrocketing in recent years as evidenced of the $2 billion haul for last year’s sale of the Los Angeles Clippers, Jordan has a stable investment in his fold. Other new NBA owners who joined the prestigious list include Chicago Bulls owner and Jordan’s former boss Jerry Reinsdorf whose net worth is listed at $1.3 billion and Houston Rockets head honcho Leslie Alexander with $1.6 billion in net worth.

Jordan has again bested current player LeBron James who has set his goal of becoming the first ever NBA player who accumulates $1 billion dollars by being ranked the 1,731st richest person in the world. Jordan’s continued partnership with shoe giant Nike and men’s clothing Hanes reinforces the popularity of the former player. “His Airness” continues to play an active role in the development of the Hornets who are in the playoff hunt for the second consecutive year. The Hornets are currently in the outside looking in and are tied with the Brooklyn Nets for the 9th spot in the Eastern Conference, sporting a 24-33 record.

For concerns on this story, contact the author at v.hidalgo@ibtimes.com.au.

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