Michael Jordan is internationally known for being arguably the best basketball player ever. The Hall of Famer and Charlotte Hornets owner is now recognized for being one of the wealthiest people in the world as well.

For the first time in his very lucrative career, Jordan was included in Forbes magazine's annual World's Billionares List, the publication announced Monday. With an estimated net worth of $1 billion, MJ ranks as the 1,741st richest person in the world, according to the magazine.

Jordan's biggest assets are the Hornets, which Forbes estimates to have a worth of $700 million, and royalties from Nike's Air Jordan line of sneakers and apparel from which ESPN estimates the six-time NBA champion makes upwards of $100 million annually. Jordan is one of a record 290 newcomers on the Forbes list this year.

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Phil Knight, Nike co-founder and chairman, ranks 35th on the list with a net worth of $21.5 billion. He is tied with Los Angeles Clippers owner Steve Ballmer, who has the same net worth. But Ballmer and Jordan are far from the only NBA team owners to make the prestigious and powerful list.

Brooklyn Nets owner Mikhail Prokhorov ranks 125th with an estimated net worth of $9.9 billion and Denver Nuggets owner Stan Kroenke ranks 225th with a net value of $6.3 billion. Orlando Magic owner Rich DeVos (No. 259, $5.7 billion) and the Dolan family (No. 381, $4.3 billion), owner of the New York Knicks, also show up on the list. 

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(Photo: Elsa/Getty Images)