Michael Jordan Becomes a Billionaire

Michael Jordan is now estimated to be a billionaire, making the cut for Forbes World's Billionaires List this year for the first time. According to the magazine, he's the 1,741st richest person in the world with an estimated worth of $1 billion. Jordan is believed to make at least $100 million off royalties from his Nike shoe line, and owns a majority share of the Charlotte Bobcats, whose value sharply rose recently. The top spot on Forbes' list is Bill Gates, who has held the title 16 times.