Michael Jordan dethrones Vince McMahon to become the world's richest sportsman in 2024

Forbes has named Michael Jordan the "world's richest sportsman" in their latest Billionaire rankings with Lionel Messi and Cristiano Ronaldo missing from the rich-list.

Basketball legend Michael Jordan has risen above WWE billionaire Vince McMahon to become the world's richest sportsman in 2024.

This month, Forbes released their Billionaires Index - a yearly rankings on their database of the world's richest people, and the NBA and Chicago Bulls legend sat comfortably as the richest sportsman in the world.

The Forbes rich-list also saw some wealth increase with a few high-profile sportsmen while others made their big debut on the world's billionaires list.

However, no footballer is still yet to break into Forbes' exclusive list, with two of the world's richest footballers, Lionel Messi and Cristiano Ronaldo, still yet to attain "Billionaire status".

Michael Jordan surpasses Vince McMahon to become the world's richest sportsman in 2024

Pulse Sports previously reported that Vince McMahon was the richest sportsman in the world.

However, that situation has changed drastically as the WWE billionaire has officially been surpassed by the NBA's greatest of all time.

Michael Jordan (Net Worth) - $3.2 Billion

The biggest highlight of the list as far as athletes are concerned is Michael Jordan's continued wealth boost.

The 61-year-old Brooklyn-born businessman and former basketballer saw his net worth grow by $1.2 Billion USD between January 2023 - January 2024, as per Forbes.

Jordan's rise on the list is no accident though - with the continued rise of his business ventures.

In 2014, Jordan was named the first NBA player to become a billionaire, after he increased his stake in the Charlotte Hornets from 80% to 89.5%

Since 2017, Jordan has been designated as the athlete with the highest career earnings in 2017.

Widely regarded as the greatest NBA player of all time, the legendary hooper is said to have totalled a salary of $90 million during his career.

However, MJ has earned $2.4 billion (pre-tax) from such corporate partners as Nike, Hanes and Gatorade.

The continued success of the Jordan Brand- his iconic collaboration with Nike is also said to have continue to push MJ's wealth year in year out.

Forbes reported that the Jordan Brand generates $1 billion in sales for Nike.

MJ joined sports-betting firm DraftKings as a special advisor to the board and an investor in September 2020.

He also became a NASCAR team co-owner in late 2020, before selling his majority stake in the Charlotte Hornets in 2023, a deal that valued the NBA franchise at $3 billion.

Vince McMahon (Net Worth) - $2.6 Billion

Meanwhile, McMahon reportedly took a slight hit in the wake of the sexual misconduct scandal.

The WWE billionaire is still under federal investigations in the wake of the horrific allegations.

McMahon was forced to sell some of his shares in TKO and also resign from his role as WWE's CEO.

However, he still retains 34% of shares from TKO Group, which is 37.6% of WWE's total shares, and he still owns 20 million shares of the company's total stock, which is worth approximately $1.78 Billion USD, after he sold some in November 2023.

Forbes' latest Billionaire rankings saw Mcmahon's net worth decline by over a $100 million USD between January 2023-January 2024.

Magic Johnson debuts on Forbes' 2014 Billionaires Index as Toto Wolff, LeBron James, and Tiger Woods' Net worths rise

Magic Johnson (Net Worth) - $1.2 Billion

Another basketball legend joined the Forbes rich-list.

Widely regarded as one the NBA's greatest players of all time, Earvin "Magic" Johnson was named a billionaire by Forbes in October 2023.

Johnson reportedly earned around $40 million total from his playing career in LA Lakers.

However, following his retirement, he built his wealth through joint venture partnerships including Starbucks franchises, real estate and healthcare.

The majority of Johnson's fortune comes from a 60% ownership stake in life insurance company Equitrust, which according to Forbes, has grown from $16 billion in assets under management to $26 billion since he took over in 2015.

The 64-year-old also owns small ownership stakes in the NFL's Washington Commanders, MLB's Los Angeles Dodgers, WNBA's Los Angeles Sparks and MLS' LAFC.

Johnson a $200 million USD increase in his net worth between October 2023 - January 2024.

LeBron James (Net Worth) - $1.2 Billion

Elsewhere, NBA superstar and billionaire LeBron James continue to grow his wealth having become the first active basketballer to become a billionaire.

LeBron James' Net Worth grew by $200 million USD between January 2023 and January 2024.

King James has raked in upwards of $900 million (pretax) off the court, according to Forbes estimates from business ventures and endorsement deals with the likes of PepsiCo and Nike.

However, a huge propelling factor to James billionaire empire has been has his decisive movements in taking equity in brands he works with, including Beats by Dre.

The LA Lakers star is a minority owner of Premier League club Liverpool, and has invested in other sporting franchises like Serie A club, AC Milan as well as the PGA Tour.

Toto Wolff (Net Worth) - $1.6 Billion

Mercedes-AMG F1 CEO and Team principal Toto Wolff was named a Billionaire by Forbes in 2023.

However, his net worth has grown by more $600 million USD between January 2023 and January 2024.

Wolff owns 33% of Mercedes-AMG Petronas Formula 1 team.

The former racing driver led Mercedes to eight consecutive Formula 1 Constructor's Championships from 2014 to 2021, as well as seven consecutive Drivers' Championships during that span.

Tiger Woods (Net Worth) -  $1.3 Billion

Tiger Woods has reportedly earned roughly $1.8 billion during his pro golf career, including a PGA Tour-record $121 million in prize money.

In 2022, Forbes certified the golf legend as a billionaire, making him only the second active athlete ever with that distinction, after LeBron James.

Widely regarded as the greatest golfer of all time, Woods saw his net worth increase by $200 million USD between January 2023 and January 2024.

Interestingly, Tiger Woods became a billionaire despite reportedly turning down a "mammoth" offer from the upstart LIV Golf tour, a deal that LIV CEO Greg Norman told the Washington Post would have been in the "high nine digits."

Woods invested his multi-million-dollar golfing earnings into investments that include two homes on Jupiter Island, a golf-course design business and high-end mini-golf chain Popstroke.

In 2022, Woods and fellow golf star Rory McIlroy announced they had founded TMRW Sports, a tech-focused venture with plans to launch a new golf league called TGL.

In conclusion, only six sportsmen (including active and inactive athletes) made the Forbes 2024 Billionaire Index.