Former NBA star and owner of the Charlotte Hornets, Michael Jordan now has a net worth estimated at $1 billion.
On Monday, Forbes released a list of 290 rookie billionaires.
Two other NBA owners joined Jordan, who won six championships with the Chicago Bulls, on the list as well, WGN TV reports. Houston Rockets owner Leslie Alexander has a net worth of $1.6 billion and Chicago Bulls owner Jerry Reinsdorf is worth $1.3 billion.
The 52-year-old earns majority of his stake from the Charlotte Hornets, Forbes notes. The team is worth $725 million.
Jordan, who reached billionaire status last June, paid $175 million in 2010 for his part in the team, according to The New York Post.
Jordan also earns money from Nike through his Jordan brand, which had sales of $2.25 billion in 2013. Jordan earned $90 million from those sales, according to Forbes.
The net worth of the NBA franchise values have increased after Steve Ballmer bought the Los Angeles Clippers for $2 million dollars, WGN TV notes.
Image Courtesy of INFphoto.com
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