NBA legend Michael Jordan has achieved a historic milestone in his entrepreneurial journey, becoming the first professional athlete to secure a spot among America's 400 wealthiest individuals, as reported by CNN.

Jordan made his entry into the Forbes 400 list at the 379th position after selling his majority stake in the Charlotte Hornets earlier in the year. To put this in perspective, he's only a few slots below WWE head honcho Vince McMahon.

According to Forbes' estimates, the basketball hall of famer's net worth stands at an impressive $3 billion. He achieved billionaire status back in 2015, partially due to his lucrative endorsement deal with Nike, as well as profitable contracts with Hanes, Gatorade, and Upper Deck.

While Jordan still has a way to go to break into the coveted top 100 on the Forbes list – a feat that requires a fortune of nearly $9 billion – if anyone can do it, it's arguably the most competitive figure in the history of sports.

Throughout his illustrious 15-season NBA career, Jordan secured five MVP awards and six championships with the Chicago Bulls. Widely regarded as the greatest basketball player of all time, he retired for the final time in 2003 after two seasons with the Washington Wizards.

In 2010, Jordan purchased the Charlotte Hornets for approximately $275 million. However, in June of the current year, he sold the majority of his ownership stake to a consortium led by Gabe Plotkin and Rick Schnall, a move that catapulted him into the Forbes 400 list. Nevertheless, Jordan retains a minority stake in the team.

It's important to note that Elon Musk, with an estimated wealth of $251 billion, occupies the top spot on the Forbes 400 list, surpassing Amazon founder Jeff Bezos, whose fortune is estimated at $161 billion.