Michael Jordan Joins Bill Gates In Forbes Billionaires List
Forbes welcomes Michael Jordan in its list of billionaires, together with 290 newcomers on the list, mostly coming from China and “kids” from Silicon Valley. Forbes said big bulk of Jordan’s billions comes from payouts of Nike brands carrying his name. The Jordan brand amassed an estimated $2.25 billion in gross, with his Airness earning approximately $90 million, according to Forbes.
Jordan’s Most Valuable Asset
Forbes had first welcomed Jordan in the billionaire’s club in June 2014, several months after he increased his stake in the Charlotte Hornets to more than $500 million. That is 89.5 percent from the 80 percent he originally bought.
According to Forbes, Jordan first invested in the Hornets in 2006. He became the full controlling owner in 2010 after buying out the shares of Robert Johnson for $175 million. Around that time, the Hornets is valued from $600 million to $625 million, according to sports bankers who have spoken with Forbes.
In February, Mike Ozanian of Forbes estimated Jordan’s annual earnings at $90 million with a net worth of $750 million. Ozanian, with the Dean of athlete earnings, Kurt Badenhausen, estimated Jordan’s equity in Hornets at $416 million. Even after subtracting his investment in the team from his estimated net worth, Jordan still has $600 million. That, plus his stake in the team brought him to a net worth of $1 billion, Ozanian said.
With Jordan now on Forbes’ billionaires list, he “is arguably the greatest basketball player of all time and indisputably the best-paid athlete of all time,” Dan Alexander wrote.
The Old Timers
Bill Gates is still is the richest person on Earth. Make that 16 times for the past 21 years Forbes had been making the list. He has cultivated his wealth to $79.2 billion from the $3.2 billion he had in 2014. He managed to grow his fortune even with his donation to The Bill & Melinda Gates foundation in November 2014. His donation amounted to $1.5 billion that was taken from his shares in Microsoft.
Carlos Slim Helu of Mexico never let go of his No. 2 position. American investor Warren Buffet managed to snatch the No. 3 spot back from Amancio Ortega of Spain. Facebook Mark Zuckerberg managed to crawl way past 5 spots, landing at number 16.