Michael Jordan Most Famous New Billionaire in the World

Appreciating investments land sports mogul on Forbes list of billionaires

(Image: File)

Out of the 290 newcomers to the Forbes billionaires list, Forbes has deemed  Michael Jordan as the most famous newbie, according to a March article at Forbes.com. Forbes estimates Jordan’s worth at an even $1 billion thanks to his share in the Charlotte Hornets. Arguably the best player in NBA history, Jordan’s wise investment decisions post his basketball career has landed him as the one of the richest men in the world.

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There were new entrants to the prestigious list from every content, according to Forbes, with the U.S. being the second most billionaire-producing country next to China.  71 billionaires came from China, with 57 coming from the U.S. to include Jordan.

It’s been anticipated that Jordan would grace the billionaires list since last year in June when NBA franchise teams catapulted in value.  At that time, Forbes used two major determining factors to declare Jordan a billionaire. First, Forbes reported that Jordan’s stake in the Hornets had increased from 80 percent to 89.5 percent; secondly Forbes said the Hornets value had increased from $410 million to between $600 million and $625 million. Forbes anticipated Jordan’s net worth outside of the team to be an additional $600 million.

Nonetheless, at that time in June 2014, the Charlotte Observer reported that Jordan’s spokeswoman Estee Portnoy said the report was “speculative.”

According to a March 2014 article on Forbes.com, “it’s official. Jordan is a billionaire and he is the most famous newcomer to the list.” The Jordan brand grossed an estimated $2.25 billion in 2013, earning his Airness some $90 million. But his most valuable asset is his stake in the Charlotte Hornets, worth more than $500 million.”

In addition to the value of the Hornets, Business Insider points out that the NBA deal with ESPN and Turner should prove very lucrative for the Hornets. In the deal, the networks are to pay the NBA an average $2.66 billion, which should amount to an extra $57 million, according to Business Insider.

Next in popularity to enter the billionaires list were tech boomers Garrett Camp, Travis Kalanick and Ryan Graves, of Uber and Brian Chesky, Nathan Blecharczyk and Joe Gebbia, the creators of Airbnb.

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