Basketball legend Michael Jordan joins Forbes list of billionaires

Michael Jordan has been included in the new billionaires list, released by Forbes.

There are 290 newcomers on the list and the 52-year-old, who played for 15 seasons in the National Basketball Association (NBA) for the Chicago Bulls and Washington Wizards, is the 513th richest person in the USA.

Jordan is estimated to be worth around $1.0 billion.

According to the report: The most famous rookie on the billionaires list? Michael Jordan, arguably the greatest basketball player of all time and indisputably the best-paid athlete of all time. Most of his cash comes from Nike payouts on his iconic brand. The Jordan brand grossed an estimated $2.25 billion in 2013, earning his Airness some $90m. But his most valuable asset is his stake in the Charlotte Hornets, worth more than $500m.

 “When ex-Microsoft CEO Steve Ballmer bought the Los Angeles Clippers for a stunning $2 billion, values of all NBA teams skyrocketed, creating three new billionaires. Jordan’s old boss Jerry Reinsdorf, owner of the Chicago Bulls, joined the list with a fortune of $1.3 billion, and Houston Rockets owner Leslie Alexander boosted his net worth to $1.6 billion.”