NBA legend’s net worth tops $3 billion after Charlotte Hornets sale, making Forbes 400 list

• Jordan ended his 13-year tenure as Hornets owner in August.
• Do so and you’ll see the former Chicago Bulls star join the ranks of the richest people in America
• DailyMail.com provides all the latest international sports news

NBA superstar Michael Jordan has joined an exclusive club following the successful sale of the Charlotte Hornets.

Jordan, widely regarded as the greatest basketball player of all time, transferred most of his shares in the Hornets to Rick Schnall and Gabe Plotkin in August ), ending his 13-year reign as Hornets owner.

The sale to Schnarr and Plotkin is said to be worth up to $3 billion, a huge profit for the 60-year-old since he paid $275 million to buy the team in 2010 .

After cashing in his majority stake in Charlotte, Jordan entered the Forbes 400 list, which includes the wealthiest Americans in the country.

It is understood that his net worth has now crossed the $3 billion mark, meaning he has become the first athlete ever to be inducted into Forbes’ exclusive club.

Jordan, who combined his iconic career in the NBA with some of the biggest business deals off the court, remains the richest athlete in history.

The most famous of these brand collaborations is of course the one with Nike, which still generates millions of dollars in revenue from its iconic Jordan Brand.

The former Chicago Bulls superstar’s most recent annual royalty check to Nike was reportedly worth approximately $260 million. He reportedly earned 5% of his total revenue from the famous Air Jordan sneakers, which were first launched in 1984.

In its latest annual report, Nike’s annual wholesale revenue through Jordan Brand was $6.6 billion, an increase of 28.6% over the previous year.

Jordan amassed $94 million on the court during his 15 seasons in the NBA and signed lucrative contracts with companies such as McDonald’s, Gatorade and Hennessy.

However, it was his sale of the Hornets for a staggering nearly 17 times their original value that made him one of the richest men in America.

He is one of only three athletes in history to become a billionaire, along with basketball superstar LeBron James and golf legend Tiger Woods, although the latter two did so while still active in their careers. Billionaire.

After bidding farewell to the Hornets in August, Jordan insisted his love for basketball remains as strong as ever.

He said it was the right time for me to hand over power and focus on my family, my personal interests and some new challenges. “I’m excited to see what the future holds and I look forward to supporting the team and community in my new role for many years to come.

“This is a thank you, not a goodbye, as North Carolina, the city of Charlotte and the Hornets will always hold a special place in my heart.”