Forbes: Michael Jordan, Jerry Reinsdorf Join Billionaires' Club
NEW YORK (AP) — Michael Jordan and two other NBA owners have reached new heights, making Forbes world list of billionaires.
Forbes released its list on Monday and noted that Jordan's net worth is estimated at $1 billion, thanks to his well-timed investment in the Charlotte Hornets.
Houston Rockets owner Leslie Alexander, with a net worth of $1.6 billion, and the Chicago Bulls owner Jerry Reinsdorf, worth $1.3 billion are also on the list. Jordan and Reinsdorf are newcomers to the list, while Alexander returns for the first time since 2007.
The net worth of NBA franchise values increased this past year after the sale of Los Angeles Clippers to Steve Ballmer for $2 billion.
The 52-year-old Jordan, a Hall of Fame player who won six NBA championships with the Bulls, reached billionaire status last June, according to the magazine. This is his first year on Forbes' annual list which typically is released in March.
Jordan acquired the majority stake in the Hornets in 2010 for $175 million. Forbes last June listed Jordan's equity as owner of the Hornets is $416 million and his net worth outside of the team to be $600 million.
Topping the list of sports-related billionaires was Stanley Kroenke, who owns the NFL's St. Louis Rams. His net worth of $6.3 billion, which ranks him as the 225th richest person in the world.
He is one of 11 NFL owners on a list that include 20 billionaire sports figures.
Other NFL owners to make the list include Robert Kraft (Patriots, $4.3 billion), Jerry Jones, (Cowboys, $4.2 billion), Stephen Bisciotti (Ravens, $2.7 billion), Arthur Blank (Falcons, $2.5 billion), Robert McNair (Texans, $2.4 billion), Tom Benson (Saints, $1.9 billion), James Irsay (Colts, $1.75 billion), Daniel Snyder (Redskins, $1.7 billion), Alex Spanos (Chargers, $1.25 billion) and Jeffrey Lurie (Eagles, $1.1 billion).
Copyright 2015 The Associated Press.