Michael Jordan.

Michael Jordan moves up 164 places in Forbes' 'World Billionaire' list

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Michael Jordan's wealth continues to grow as retirement goes on, and he was named on Forbes' 'World Billionaire' list for the second time. 

The Chicago Bulls legend and current Charlotte Hornets owner was ranked as the 1,577th richest person on the planet - a 164 place jump from the previous year - with a net worth valued at $1.14 billion. He is the 486th richest in the United States of America. 

Almost half of his assets are attached to the Charlotte Hornets. His initial investment in the Eastern Conference franchise was $175 million and his current 90 percent share is valued at around $500 million, which is likely a low estimate given the steep increase in purchase figures surrounding sports teams.

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The greatest of all time has built his wealth around basketball, and his Jordan Brand deal with clothing manufacturer Nike has grown at an unprecedented rate since being founded in 1984.

Jordan's are the most sought after basketball trainers in the world and the 30th iteration of the sneakers, that were released in February, were a resounding success. The company had just made its first billion in sales back in 2006 and is now pushing the $3 billion mark. 

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Back in mid-February, New York Knicks forward Carmelo Anthony, who is signed with the Jordan label, told's Scoop Jackson: "I remember getting there and seeing where the business was then.

"I remember sitting in the airport in 2006, coming from the world championship, and I remember when the brand had just hit a billion, and to see where it's at right now—[nearly $3 billion in sales]—that's a lot. That's a lot of growth to be a part of."

Jordan retired from basketball in 2003 after a short spell with the Washington Wizards but continues to bring in money from endorsement deals with Gatorade, Hanes and Upper Deck.

Michael Jordan at career finale

The 53-year-old is the only current or former sports star on the list of billionaires but there are a number of franchise owners scattered throughout. 

Steve Ballmer, the former Microsoft CEO, and owner of the Los Angeles Clippers was ranked 26th in the world with a net worth of $23.5 billion. But that pales in comparison to the richest man in the world; Bill Gates - whose net worth was calculated at $75 billion.

Stanley Kroenke, the owner of Kroenke Sports Enterprises, which includes the Denver Nuggets, NFL's LA Rams and NHL franchise the Colorado Avalanche has a net worth of $7.7 billion, is 148th in the world. He is also the largest shareholder in Arsenal.

As for Jordan, the six-time NBA Champion is a shining example of taking advantage of your own fame, and his wealth is only likely to grow with the popularity of Jordan's and the league as a whole.

Charlotte Hornets
Southeast Division
Eastern Conference
Michael Jordan
Chicago Bulls
Central Division

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