Michael Jordan is in a class of his own in the basketball world, and has joined another elite class after he was listed among the world’s billionaires by Forbes.
Jordan makes the list for the first time, and is the 1,741st richest person in the world.
CNN Money breaks down how Jordan accumulated his vast earnings:
Jordan amassed his $1 billion fortune partly through his endorsement deal with Nike (). The Jordan brand by Nike brought in an estimated $2.25 billion in 2013, which earned the 52 year-old athlete $90 million, according to Forbes.
But it was Jordan’s ownership of the Charlotte Hornets basketball team that catapulted him into the billionaire’s ranks this year. NBA teams soared in value after Steve Ballmer, the former Microsoft(, Tech30) CEO, paid $2 billion for the Los Angeles Clippers.