Michael Jordan and two other NBA owners have joined Forbes’ annual list of the world’s billionaires.
Forbes released its list of billionaires on Monday and noted that Jordan’s net worth is estimated at $1 billion, thanks to his well-timed investment in the Charlotte Hornets.
Houston Rockets owner Leslie Alexander, with a net worth of $1.6 billion, and the Chicago Bulls owner Jerry Reinsdorf, worth $1.3 billion, also made the list.
The net worth of NBA franchise values increased this past year after the sale of Los Angeles Clippers to Steve Ballmer for $2 billion.
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The 52-year-old Jordan, a Hall of Fame player who won six NBA championships with the Bulls, reached billionaire status last June, according to the magazine. This is his first year on Forbes’ annual list which typically is released in March.