Charlotte Bobcats owner Michael Jordan
Charlotte Bobcats owner Michael Jordan watches as his team plays against the Chicago Bulls during the first half of their NBA basketball game in Charlotte, North Carolina February 22, 2013. Reuters/Stringer

Famous basketball star Michael Jordan has joined Forbes’s 29th annual list of the richest in the world. Jordan is one among the 290 newly-minted billionaires who joined the Forbes' list, released on March 2, which has Micorosoft co-founder Bill Gates at the top.

With an estimated net worth of $1 billion, Jordan became the 1,741st richest person in the world, the Forbes magazine said. Jordan reportedly makes more than $100 million a year, from the royalities for his Nike Air Jordan line. But, his business manager Estee Portnoy refused to confirm the numbers and said that "we did not comment nor participate in the financial guesstimates" made by Forbes, reports ESPN.

Brilliant Entrepreneur

Michael Jordan is not only a great basketball player, but he is the most entrepreneurial sports star of his time. His hugely lucrative endorsement deal with Nike created the iconic Air Jordan trainers. Today, Brand Jordan remains the primary money spinner for the sports manufacturer with $1 billion in sales. Jordan also made big money with his sponsorship deals for brands such as Gatorade, Coca-Cola and McDonald’s besides starring along with Bugs Bunny in his own film, Space Jam.

The real turn around in his fortune came with Jordan's ownership of the Charlotte Hornets basketball team, which finally catapulted him into the August club of world's billionaires.

The 52-year old Jordan was born in Brooklyn, New York and in his three decade long professional career, achieved many laurels including six-time NBA Finals Most Valuable Player, a five-time NBA MVP, a 14-time NBA All-Star, and a six-time NBA champion.

Designer’s Tribute

Legendary designer Tinker Hatfield, while paying glowing tributes to Jordan, recalled his association with the star. The Air Jordan campaign marks its 30-year anniversary in 2015, celebrating the iconic success of Jordan Brand. From the colorful Air Jordan 1 back in 1985, it became one of the most visible and powerful brands for all time. In three decades, the Air Jordan transformed into a pop like cultural artifact thanks to the innovative work of its lead designer, Tinker Hatfield, who, in a way, chaperoned Jordan’s career too. He captured the great talent of Jordan in every single sneaker he played in.

Guardian reports the halo around the Richest club and notes that the 1,826 global billionaires featured in Forbes annual rich list have collectively enhanced their wealth by $650 billion to touch $7 trillion and surpassed the combined gross domestic product of Germany and the United Kingdom.

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