If Michael Jordan wasn’t already rolling in money, his edition to the latest Forbes list proves it.
The Chicago Bulls legend’s net worth has risen to $3 billion, allowing him to join the ranks of the Forbes 400, the list of America’s 400 richest people. He cracked in at number 379, to be exact.
Of course, Jordan’s been one of the most marketable athletes of all time, but through his 15-season NBA career, he only made $94 million.
But with that influence, he nabbed endorsement deals with brands like Gatorade, Hanes, and, of course, his bread and butter, Nike. The Air Jordan debuted back in 1985 with the Jordan 1 model, and the collection remains one of the most popular and best-selling sneaker lines of all time. In fact, in just this year alone, the Jordan Brand yielded MJ a $260 million payday.
However, it wasn’t the kicks that kicked him over the edge into the 400 club; it was the recent sale of the Charlotte Hornets. Jordan became the principal owner in 2010 after purchasing a $275 million major stake from BET owner Robert L. Johnson, and upon sticking up a for sale sign, it had a $3 billion valuation.
Upon the check clearing, Jordan revealed he sold the team because he’s got other ventures he’d like to focus on.
“Although my love for the game of basketball and the NBA remains strong, now is the right time for me to hand over the reins and focus on my family, my personal interests and some new challenges,” Jordan said of the sale to a group led by Rick Schnall and Gabe Plotkin. Charlotte native J. Cole also purchased a small stake in the franchise.
With his addition to the list, Jordan became the first athlete to make the Forbes 400. He was the first athlete to crack the billion-dollar mark back in 2014, and he’s in rarified air because the only others to achieve the feat are LeBron James and Tiger Woods, who are also Nike athletes.
His journey to ownership began in the 1990s when he was part of an ownership group that purchased a hockey team and a minority stake in the Washington Wizards. However, he had to divest after his second comeback to the league for two seasons. After his final retirement, he didn’t wait long to get back behind the ownership desk when purchasing a stake in the Charlotte Bobcats in 2006, which would eventually be rebranded as the Hornets.
See how social media reacted to the Hornets sale below.
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