Michael Jordan, now worth $3 billion, ranks among Forbes' richest 400 people
Michael Jordan's wealth of $3 billion has earned him a place among the Forbes 400, marking the first time a professional athlete has joined the ranks of the richest Americans, according to Forbes magazine.
Jordan, who has been a billionaire since 2014, catapulted onto the Forbes 400 list this year following the sale of the Charlotte Hornets in August for $3 billion. The former pro basketballer had been the team's majority owner since 2010, when he bought the franchise for $275 million.
The Forbes 400 list is a byword for America's elite, claiming the likes of Tesla CEO Elon Musk (No. 1 on the list of with a net worth of $251 billion) and Amazon.com founder Jeff Bezos (No. 2 with wealth of $161 billion.) Jordan barely made the cut, with Forbes noting that an individual needed $2.9 billion to be included amongst the ranks of the nation's richest people this year.
Jordan, 60, is one of only three professional athletes to build wealth valued at over $1 billion, along with LeBron James and Tiger Woods, Forbes said.
How much is Michael Jordan worth?
Jordan is worth $3 billion, placing him at No. 379 on the Forbes 400 list.
His wealth ties him with the likes of Meg Whitman, the former CEO of eBay, and real estate mogul Jerry Speyer, both of whom are among the several people on the list also worth $3 billion, Forbes said.
What are Michael Jordan's biggest assets?
Forbes doesn't list Jordan's assets, but notes that his wealth jumped earlier this year with the sale of the Charlotte Hornets. The publication estimated his 2022 wealth at $1.7 billion.
Jordan built his fame through his 15 seasons with the NBA, but Forbes notes that his fortune largely stemmed from his off-court ventures.
For instance, Jordan earned $94 million during his time with the NBA, but he has scored an estimated $2.4 billion in pre-tax earnings from branding deals with McDonald's, Gatorade and Nike — with the latter representing a sizable portion of his wealth. His most recent annual royalty check from Nike was for $260 million, Forbes notes.
But his biggest score was his investment in the Charlotte Hornets, with the sale price representing a 17-fold increase since Jordan became its majority owner 13 years ago.