Michael Jordan makes his first appearance on the Forbes’ World’s Billionaires List! This is the part where we wait patiently for someone to say he makes all his money off high priced shoes (though he doesn’t control the price tag). Allow me to stop you right there. The $300 you’re paying some person on Instagram (for some $180 retail shoes) is NOT what put Jordan on the list.
Here’s what helped Jordan become one of the world’s billionaires:
– It is believed that Jordan makes more than $100 million a year off royalties from his Nike Air Jordan line, though his business manager, Estee Portnoy, has never confirmed those numbers.
– In March 2010, Jordan agreed to buy 80 percent of the Charlotte Bobcats on a valuation of about $275 million. Jordan’s stake — as arranged in the original deal — jumped up to 89 percent in 2013. Forbes estimates the team, which changed its name to the Hornets this season, is now worth more than $700 million.
Jordan’s estimated net worth now qualifies him as the 1,741st richest person in the world.
