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Michael Jordan, now worth $3 billion, enters Forbes' list of 400 richest Americans

By NICK GARCIA Published Oct 04, 2023 11:54 am

Basketball icon Michael Jordan joined Forbes Magazine's 400 richest Americans, the first time a professional athlete did so.

Jordan placed 379th in the ranking with a net worth of $3 billion (over P170 billion). He barely made the cut, as Forbes said an individual needed at least $2.9 billion (P165 billion) to be part of the list.

His inclusion came following the sale of National Basketball Association team Charlotte Hornets, of which he's a majority owner, last August for $3 billion. He bought the franchise for $275 million (P15.6 billion) in 2010.

Jordan, 60, has been a billionaire since 2014.

Forbes noted that he's one of only three professional athletes to have a net worth of over $1 billion (almost P57 billion), alongside baller LeBron James and golfer Tiger Woods.

Jordan, regarded by many as the greatest NBA player of all time, built fame through 15 seasons with the NBA and won six titles with the Chicago Bulls.

Forbes, however, noted he made a fortune through off-court ventures.

He earned $94 million (over P5 billion) as a basketball player but scored an estimated $2.4 billion (P136 billion) in pre-tax earnings from branding deals with clothing Hanes, energy drink Gatorade, and sportswear Nike.

Nike accounts for a sizable portion of Jordan's wealth, according to Forbes. Nike paid him $260 million (P14.7 billion) over its past fiscal year.

Forbes noted that he also joined sports-betting firm DraftKings as a special advisor to the board and an investor in September 2020, and became a NASCAR team co-owner in late 2020.

Elon Musk, chief executive officer of automotive company Tesla, topped the list with a net worth of $251 billion (P14 trillion). Jeff Bezos, founder of e-commerce company Amazon, followed with $169 billion (P9.6 trillion).