Most of Jordan's worth derives from royalties he receives from his Nike Air Jordan brand of shoes and clothing. Forbes estimates Jordan makes more than $90 million a year from the apparel line.
Jordan retired from the NBA in 2003 after a Hall of Fame career with the Chicago Bulls and
Aside from his Nike contract, Jordan's increased ownership stake in the Hornets also helped him crack the billionaires list. His share in the franchise jumped from 80% to 89% in 2013. Forbes says the Hornets are worth more than $700 million.
Jordan ranks 1,741st on Forbes' billionaire list, but he is only the second former professional athlete to make the list. Romanian real estate investor Ion Tiriac, a former tennis player, is also a billionaire.
Still, Jordan has a long way to go before joining some of his fellow NBA owners on the list. Clippers owner Steve Ballmer is the richest NBA team owner, with an estimated net worth of $21.5 billion.