Many former sports stars run into financial crisis after their careers, probably due to lavish spending habits or a difficulty adjusting to their post-sports lives. That has certainly not been the case for Michael Jordan, however, one of America’s former basketball player who is currently being listed as one of the richest people on the planet, according to Forbes‘ latest list of the world’s richest billionaires.
According to CNN 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.
However, 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 (MSFT, Tech30) CEO, paid $2 billion for the Los Angeles Clippers.
It is interesting to know how iconic Micheal Jordan has become both in the United States and around the world. Future generations who never saw him play will continue to wear his signature Nike sneaker.