Michael Jordan, now worth $3 billion, ranks among Forbes’ richest 400 people
The $3 billion in fortune Michael Jordan has made him a member of the Forbes 400, making him the first professional athlete to rank among the wealthiest Americans, according to Forbes magazine.
The $3 billion sale of the Charlotte Hornets in August propelled Jordan, who has been a billionaire since 2014, onto the Forbes 400 list this year. Since purchasing the team for $275 million in 2010, the former professional basketball player had held the majority of the ownership stake.
Elon Musk, the CEO of Tesla, is ranked first on the Forbes 400 list with a net worth of $251 billion, and Jeff Bezos, the founder of Amazon.com, is ranked second with wealth of $161 billion. Jordan just about made it; according to Forbes, an individual needed $2.9 billion to be counted among the nation’s wealthiest people this year.
Along with LeBron James and Tiger Woods, Jordan, 60, is one of only three professional athletes to amass money worth more than $1 billion, according to Forbes.
How much is Michael Jordan worth?
Jordan is ranked 379 on the Forbes 400 list with a $3 billion net worth.
His riches places him with luminaries like Meg Whitman, the former CEO of eBay, and real estate tycoon Jerry Speyer, who are both among the several individuals on the list and both worth $3 billion, according to Forbes.
What are Michael Jordan’s biggest assets?
Although Jordan’s assets aren’t listed by Forbes, the publication does mention that the sale of the Charlotte Hornets earlier this year increased his wealth. His wealth, according to the publication, will be $1.7 billion in 2022.
While Jordan spent 15 seasons in the NBA, which helped him gain prominence, Forbes says that his wealth primarily came from his extracurricular activities.
For instance, Jordan made $94 million while playing in the NBA, but pre-tax profits from his endorsement deals with McDonald’s, Gatorade, and Nike totaled an estimated $2.4 billion, with the latter accounting for a substantial chunk of his wealth. According to Forbes, his most recent annual royalty payment from Nike was $260 million.
His investment in the Charlotte Hornets, though, was his biggest win; the sale price represented a 17-fold rise since Jordan became the team’s majority owner 13 years ago.
