Michael Jordan's sale of the Charlotte Hornets reportedly took his net worth to around $3.5billion, making him the richest basketball player of all time.
The 60-year-old, who led the Chicago Bulls to six NBA titles and was a five-time MVP, recently relinquished his majority stake in the Hornets for $3bn.
Jordan sold control of the team to a consortium led by Gabe Plotkin and Rick Schnall but the Hornets said he has retained a minority stake in the NBA team.
According to Bloomberg, whose Billionaires Index is calculating Jordan's fortune for the first time, MJ is believed to have kept less than 5 per cent of his stake after flogging 65 per cent.