Michael Jordan, considered the best basketball player of all time, has just joined the billionaires’ club.
Jordan is one of the 290 newly-minted billionaires on Forbes’ annual list of the world’s richest people. He’s certainly one of the most recognizable names on the list — sorry, LeBron.
Jordan amassed his $1 billion fortune partly through his endorsement deal with Nike (). The Jordan brand by Nike brought in an estimated $2.25 billion in 2013, which earned the 52 year-old athlete $90 million, according to Forbes.
But it was Jordan’s ownership of the Charlotte Hornets basketball team that catapulted him into the billionaire’s ranks this year. NBA teams soared in value after Steve Ballmer, the former Microsoft ( , Tech30) CEO, paid $2 billion for the Los Angeles Clippers.
SOURCE: Ben Rooney