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Michael Jordan Becomes First-Ever Athlete to Rank Among America’s 400 Wealthiest People

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James Foglio
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James Foglio Sports Editor

James is a Basketball Insiders contributor. He earned his bachelor's degree in English and Creative Writing from Southern New Hampshire University. James enjoys watching sports and helping gamblers win money.

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Sports Editor

Updated04 Oct 2023

Chicago Bulls Michael Jordan Becomes First-Ever Athlete to Rank Among Americas 400 Wealthiest People

Michael Jordan is now the first-ever professional athlete in history to rank among America’s 400 wealthiest people, according to Forbes. The NBA Hall of Famer is ranked 379th on the media platform’s list.

In June, the Chicago Bulls legend sold his majority stake in the Charlotte Hornets for $3 billion to a group led by Rick Schnall and Gabe Plotkin. The deal was finalized in August.

After the sale, Forbes now estimates his net worth has increased to $3 billion. That should go without saying.

Jordan will continue to hold a minority stake in the team after a 13-year run as the majority owner. His Airness paid $275 million for a majority stake in the NBA franchise in 2010.

Of course, Jordan earned billionaire status in 2015, mostly because of his endorsement deal with Nike.

However, M.J. also reached 10 figures through lucrative contracts with Gatorade, Hanes, and Upper Deck. In 2017, he became a part owner of the MLB’s Miami Marlins as well.

NBA Hall of Famer Michael Jordan is now the first-ever athlete to rank among America’s 400 wealthiest people; the Bulls legend is one of the richest African Americans

Additionally, the six-time NBA champ is the majority investor in a golf course known as Grove XXIII.

In September 2020, Jordan became an investor and advisor for DraftKings. Now, Jordan is among the top five of the richest African Americans, joining Rihanna, Robert F. Smith, Oprah Winfrey, and David Steward.

Tesla and SpaceX CEO Elon Musk’s estimated worth is $251 billion, which topped Forbes’ 400 list ahead of Amazon founder Jeff Bezos, whose wealth is about $161 billion.

Last June, Los Angeles Lakers superstar LeBron James became the first active NBA player to become a billionaire. At the time, the 19-time All-Star had an approximate net worth of $1 billion.

Similar to Jordan, the four-time MVP is taking full advantage of investment opportunities. Thanks to deals with Nike, McDonald’s, and Sprite, James will be joining Jordan on Forbes’ list in the future.

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