Charlotte Hornets owner Michael Jordan has debuted on Forbes’ World’s Billionaire’s List.
Jordan’s net worth is about $1 billion, Forbes estimates, ranking him No. 1,741 out of 1,826 in the annual ranking released Monday.
Jordan became the majority owner of the Charlotte Bobcats in 2010. According to Forbes, Jordan’s brand is a $1 billion business for Nike. In addition to a number of restaurant ventures, Jordan, 52, also has deals with Gatorade, Hanes and Upper Deck.
This is Jordan’s first time on the annual Forbes list, although the magazine reported that Jordan became a billionaire in June after increasing his stake in the Hornets. At the time, Forbes estimated that Jordan’s equity in the Hornets stood at $416 million, and that his net worth outside the team was $600 million.
Estee Portnoy, Jordan’s spokeswoman, told The Observer in June that Jordan’s primary residence is in Florida, but he has a home in uptown Charlotte. His mother, Portnoy said, has a home on Lake Norman.
Jordan joins only a few other North Carolina billionaires. Charlotte businessman C.D. Spangler has an estimated net worth of $2.3 billion, ranking him No. 810 among the world’s billionaires.
Jim Goodnight, CEO of Cary-based software vendor SAS, ranked No. 177 among the world’s billionaires with a net worth of $7.5 billion. John Sall, SAS executive vice president, ranked No. 462 with a net worth of $3.7 billion.
In South Carolina, Anita Zucker, CEO of chemical company InterTech Group, was No. 847 among the world’s billionaires with a net worth of $2.2 billion.
Microsoft founder Bill Gates was again ranked richest person in the world with an estimated net worth of $79.2 billion in 2015. Billionaires in the U.S. made up 1,532 of Forbes’ 1,826 total billionaires worldwide.
This is the 29th year that Forbes has released its list of the wealthiest people. The magazine said it calculated each person’s wealth based on stock prices and exchange rates on Feb. 13, 2015. The Associated Press contributed.