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Michael Jordan becomes first athlete to rank on Forbes’ list of 400 richest Americans

Former NBA star Michael Jordan looks on as he addresses a press conference ahead of the NBA basketball match between Milwaukee Bucks and Charlotte Hornets at The AccorHotels Arena in Paris on January 24, 2020. Jordan made history by becoming the first athlete ranked on Forbes' list of 400 wealthiest Americans. (Photo by FRANCK FIFE/AFP via Getty Images)

(CNN) — NBA legend Michael Jordan has reached a new milestone in his entrepreneurial career as the first professional athlete to be ranked among America’s 400 wealthiest people, according to Forbes.

Jordan enters the Forbes 400 list at number 379 having sold his majority stake in the Charlotte Hornets earlier this year.

Forbes estimates that the basketball Hall of Famer’s net worth is $3 billion. He earned billionaire status in 2015, partly through his endorsement deal with Nike, but also through lucrative contracts with Hanes, Gatorade, and Upper Deck.

Jordan has become well-known for his philanthropy, making a record-breaking $10 million donation to Make-A-Wish America in honor of his 60th birthday – the largest gift by an individual in the foundation’s 43-year history.

During his 15 seasons in the NBA, Jordan won five MVP awards and six titles with the Chicago Bulls. Considered by many to be the greatest basketball player of all time, he retired for the final time in 2003 after two seasons with the Washington Wizards.

Having bought the Hornets for about $275 million in 2010, Jordan sold his majority ownership stake in June to a group led by Gabe Plotkin and Rick Schnall – propelling him onto the Forbes 400 list – but retained a minority stake in the team.

Elon Musk’s estimated worth of $251 billion sees the Tesla and SpaceX CEO top the Forbes 400 ahead of Amazon founder Jeff Bezos, whose wealth is estimated to be $161 billion.

Forbes estimated that America’s 400 richest people are now worth a collective $4.5 trillion, which equals the record set in 2021 and is slightly higher than the 2022 GDP of Japan ($4.23 trillion), according to the World Bank.