Michael Jordan, the legendary NBA star and former guard of the Chicago Bulls, has joined Forbes' list of billionaires for the first time.
Jordan is joined by other sports-related personalities as well as Silicon Valley executives in the business magazine's roster of billionaires.
According to the former professional athlete's profile, his rise to billionaire status began in 2013. At that time, the Jordan Brand, created and marketed by Nike, raked in $2.25 billion. Being Nike's endorser, Jordan earned around $90 million through the success of the brand, CNN has learned.
Although the value of the Nike's Jordan brand is enough to launch the 52-year-old star's high-profile status, it was his ownership of the Charlotte Hornets that boosted him to the rank of billionaire.
Jordan became the majority stakeholder of the Hornets in 2010 after investing $175 million in the team. Then, the value of the Hornets, like other NBA teams, rose significantly after Steve Ballmer, the former CEO of Microsoft, bought the Los Angeles Clippers for $2 billion. This increased Jordan's stake in the Hornets to $500 million.
Aside from his earnings from the NBA team, Jordan has another $600 million from his other businesses and investments, Associated Press reported.
Joining Jordan as a rookie in Forbes' billionaires list is Jerry Reinsdorf, the owner of the Chicago Bulls. According to Forbes, Reinsdorf's value is at $1.3 billion.
Another billionaire from the NBA league is Leslie Alexander. As the owner of the Houston Rockets, he is valued at $1.6 million.
Aside from the sports industry, several executives from the technology sector are also featured in Forbes' high-status roster. Among them are Travis Kalanick, Garret Camp and Ryan Graves who are also known as the founders of the ride-sharing app Uber.
Although the service has gone through numerous legal obstacles, the company continues to receive generous support from its investors. Currently, Uber is worth $41.2 billion. The trio's respective values, on the other hand, ranges between $1.4 to $5.3 billion.
