Michael Jordan, Mark Cuban Among NBA Owners on Forbes' 2018 Billionaires List
NBA owners are among the richest people in the world, and Forbes provided proof on Tuesday.
The publication released its annual list of the world's billionaires Tuesday, and it featured a number of NBA owners, including Charlotte Hornets owner Michael Jordan and Dallas Mavericks owner Mark Cuban.
Los Angeles Clippers owner Steve Ballmer, Brooklyn Nets owner Mikhail Prokhorov, Denver Nuggets owner Stan Kroenke, Orlando Magic owner Richard DeVos, Memphis Grizzlies owner Robert Pera, Detroit Pistons owner Tom Gores and Milwaukee Bucks owner Marc Lasry were also on the list.
Jordan immediately stands out, considering his status as arguably the greatest player in league history, but he did not crack the billionaires club until he was an owner.
According to a 2014 article from Mike Ozanian of Forbes, Jordan's worth surpassed the billion-dollar threshold when he increased his stake in the Hornets from 80 percent to 89.5 percent.
The Jordan Brand is also still among the most prominent apparel and shoe companies in the NBA, as current players such as Russell Westbrook, Kawhi Leonard and Jimmy Butler have all donned the shoes in recent years.
Elsewhere, Kurt Badenhausen of Forbes noted in 2017 that Ballmer was the world's richest sports team owner for the third consecutive year. The former CEO of Microsoft bought the Clippers in 2014 after Donald Sterling was ousted for racially insensitive comments.
The entire league appears to be in a financially stable place, as Badenhausen wrote earlier this year that every team is worth at least $1 billion for the first time in history. He largely credited the NBA's growth in the international market and noted franchise values have tripled in five years, with the average team worth $1.65 billion.
