Tiger Woods was the first athlete to reach a billion dollars (in career earnings), but then his ex-wife took half. Now, Michael Jordan has hit $1 billion– but as an owner.
Whether it’s career earnings or money made as an owner, both are athletes nonetheless. And it’s a big deal that athletes are capable of making billions of dollars.
Forbes magazine has released its 29th annual World’s Billionaires List, and one of the greatest basketball players of all time is on it.
With annual earnings of around $90 million and a 89.5% stake in the Charlotte Hornets, the NBA basketball team owner now has an estimated net worth of $1 billion.
According to Forbes, Jordan is the 1,741st richest person in the world.
Michael Jordan is still winning. He makes Forbes World's Billionaires List for the first time. » http://t.co/qzhUFAsi2W
— SportsCenter (@SportsCenter) March 2, 2015
Guesstimates are that Jordan makes roughly $90-$100 million a year just off royalties from his Nike Air Jordan line. And that is no surprise because “Jordans” are the most popular basketball shoe in the world. But then after factoring in that Jordan purchased the Charlotte Bobcats in 2010 for $275 million and they are now worth $700 million, Air Jordan is in the billionaires’ club.
The billionaires list has plenty of other sports owners, but Jordan is the only former professional athlete. The richest team owner is Steve Ballmer of the Los Angeles Clippers, who is the 35th-richest person in the world with a net worth of $21.5 billion.
It is no surprise that Mike is on the list; it was only a matter of time.