While many former athletes burn through their riches due to lavish spending habits and improper financial management, that’s definitely not the case for Hall of Famer Michael Jordan. Arguably considered the best player in the history of the game, Jordan made Forbes list of world’s richest billionaires for the first time this year.
With an estimated net worth of $1 billion, Jordan ranks as the 1,741st richest person in the world, according to Forbes. Jordan amassed the majority of his net worth thanks to his lucrative deal with Nike. He reportedly makes $100 million a year off his Air Jordan line of shoes, but Jordan’s business manager, Estee Portnoy, has never confirmed those figures. On Monday Portnoy released a statement saying “we did not comment nor participate in the financial guesstimates” made by Forbes.
Thanks to his revenue from Nike, Jordan was able to purchase 80% of the Charlotte Bobcats (now the Charlotte Hornets) on a valuation of $275 million in 2010. Five years later Jordan owns 89% of the Hornets, which are now reportedly worth over $700 million.
Other NBA owners that made the list include Los Angeles Clippers owner Steve Ballmer ($21.5 billion), Portland Trailblazers owner Paul Allen ($17.5 billion), Brooklyn Nets owner Mikhail Prokhorov ($9.9 billion), Denver Nuggets owner Stan Kroenke ($6.3 billion), Orlando Magic owner Rich DeVos ($5.7 billion) and the New York Knicks’ Dolan family ($4.3 billion).
