Benoit Tessier/Reuters
Michael Jordan bought the Charlotte Hornets in 2010 and it proved to be his most valuable investment.
CNN
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According to “Forbes”, NBA legend Michael Jordan has reached a new milestone in his entrepreneurial career as the first professional athlete to join the 400 richest people in the United States.
Jordan sold his majority stake in the Charlotte Hornets earlier this year and entered the Forbes 400 at No. 379.
Forbes estimates the Basketball Hall of Famer’s net worth at $3 billion. He achieved billionaire status in 2015, in part through an endorsement deal with Nike, but also through lucrative contracts with Hanes, Gatorade and Upper Deck.
Jordan, known for his philanthropy, marked his 60th birthday by donating a record $10 million to Make-A-Wish America, the largest individual donation in the foundation’s 43-year history.
In 15 seasons in the NBA, Jordan won 5 MVP awards and 6 championships with the Chicago Bulls. He retired for the final time in 2003 after playing two seasons with the Washington Wizards. Jordan is considered by many to be the greatest basketball player of all time.
Jordan purchased the Hornets in 2010 for about $275 million and sold a majority stake in June to a group led by Gabe Plotkin and Rick Schnall , which put him on the Forbes 400 list but retained a minority stake in the team.
Tesla and SpaceX CEO Elon Musk, worth an estimated $251 billion, tops the Forbes 400, ahead of Amazon founder Jeff Bezos, whose Estimated net worth is $161 billion.
According to “Forbes”, the 400 richest people in the United States are currently worth a total of US$4.5 trillion, which is equivalent to the record set in 2021 and slightly higher than Japan’s 2022 GDP (US$4.23 trillion) according to the World Bank.