For the first time, Michael Jordan is a Forbes billionaire. Coming in as the 1,741st richest man in the world, Jordan's net worth is quoted at $1 billion. Last summer, Jordan's value received a significant bump after the Los Angeles Clippers were sold to Steve Ballmer for $2 billion. Although the deal didn't concern his Charlotte Hornets directly, the sale bumped up the prices of NBA franchises league-wide. Thanks to the uptick in franchise valuation, Chicago Bulls owner Jerry Reinsdorf and Houston Rockets owner Leslie Alexander each saw their net worth trump $1 billion as well.
Jordan's majority stake in the Hornets is now estimated at over $500 million, making it his most valuable property. His Jordan Brand deal with Nike still nets him over $90 million annually, and endorsements with Gatorade, Hanes and Upper Deck only keep the cash flowing into his bottom line.
Given Tiger Woods' financial fall (the former billionaire is now worth just over half that), Jordan is the world's only active or retired billionaire athlete.
[via The Big Lead]