Former basketball player Michael Jordan has been included in Forbes magazine's annual list of billionaires for the first time.

The 52-year-old, best known for his six NBA titles with the Chicago Bulls, has an estimated net worth of $1bn (£650m).

Jordan's affiliation with Nike and his majority stake in the Charlotte Hornets are the main reasons for his place on the list.

Two NBA owners also joined the billionaire club, with Bulls owner Jerry Reinsdorf a newcomer like Jordan, while Houston Rockets' Leslie Alexander is back on the list for the first time since 2007.