NEW YORK (AP) Michael Jordan and some other NBA owners have reached new heights, landing on Forbes world list of billionaires.
Forbes released its list on Monday and noted that Jordan’s net worth is estimated at $1 billion, thanks to his well-timed investment in the Charlotte Hornets.
Steve Ballmer, who recently purchased the Los Angeles Clippers, tops the list of sports-related billionaires with a net worth of $21.5 billion. The net worth of NBA franchise values increased this past year after Ballmer bought the Clippers for $2 billion.
Houston Rockets owner Leslie Alexander’s net worth is listed at $1.6 billion and Chicago Bulls’ owner Jerry Reinsdorf is worth $1.3 billion, according to the magazine.
Jordan and Reinsdorf are newcomers to the list while Alexander returns for the first time since 2007.
The 52-year-old Jordan, a Hall of Fame player who won six NBA championships with the Bulls, reached billionaire status last June, according to the magazine. This is his first year on Forbes’ annual list which typically is released in March.
Jordan acquired the majority stake in the Hornets in 2010 for $175 million. Forbes last June listed Jordan’s equity as owner of the Hornets is $416 million and his net worth outside of the team to be $600 million.
Among the other notables of sports-related billionaires is Seahawks owner Paul Allen, worth $17.5 billion.
Some other NFL owners to make the list include Stephen Ross (Dolphins, $6.5 billion) Stanley Kroenke (Rams, $6.3 billion), Robert Kraft (Patriots, $4.3 billion) and Jerry Jones, (Cowboys, $4.2 billion).
See Forbes.com/billionaires for the magazine’s list of sports-related billionaires