Forbes: Michael Jordan Is Now a Billionaire 

Forbes magazine estimates that the famed basketball player is worth $1 billion.

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Former Chicago Bulls basketball player Michael Jordan watches during the morning Foursome Matches on the first day of the 39th Ryder Cup at the Medinah Country Club Sept. 28, 2012, in Medinah, Ill. 

BRENDAN SMIALOWSKI/AFP/GettyImages

Legendary basketball player Michael Jordan is now a member of the billionaires’ club, according to Forbes magazine. The Associated Press reports that on Thursday the magazine estimated Jordan’s equity in the Charlotte Hornets at $416 million, and his net worth—not including the NBA team—at $600 million, bringing his total value to more than $1 billion. Jordan is reported to own almost 90 percent of the Hornets.

The NBA Hall of Famer’s spokeswoman Estee Portnoy would not confirm the star’s billionaire status to AP.

Read more at the Associated Press.