LA Lakers star player James Lebron joins the World’s Billionaires League. According to Forbes, he was the first active NBA player ever to reach the milestone of becoming a billionaire. After another massive year with $121.2 million in revenue last year, Forbes has now officially declared Lebron James a billionaire.
Another NBA legend who is in the billionaire club is Michael Jordan. As a side note, Michael Jordan is the other basketball player on the Forbes billionaires list. However, he didn’t reach that size until 2014, a decade after his retirement. As his stake in the Charlotte Hornets rose to 89.5 percent, Jordan’s fortune also multiplied, making him a billionaire.
Lebron James has generated more than $1.2 billion in pre-tax income. According to Forbes, James “maximized his business.” Over the last 19 years of his NBA career, James’ NBA salary from various teams totaled $383 million. Forbes said the NBA star has also “arrived over $900 million in revenue from endorsements and other business ventures.”
LeBron James is now the first active NBA athlete to become a billionaire, alongside Michael Jordan and Kobe Bryant, who did so after retiring 💰
– Bleacher Report (@BleacherReport) June 2, 2022
The 37-year-old NBA superstar now has a Forbes-record net worth of $1 billion. In addition to James’ earnings from his endorsement deals with PepsiCo, AT&T, Nike and Walmart, he had also set the right business structure with those brands. Forbes said he was adding more equity to these brands than just getting a quick paycheck. James gets a cut at the top.
In addition, the two-time Olympic champion also has other investments. He has shares in ridesharing company Lyft, fitness startup Tonal, and food upstarter Blaze Pizza.
Another fruitful investment by James is a film and television studio, SpringHill Entertainment. Forbes estimates this at around $300 million. Moreover, this film studio is also the one that helped in the production of “Space Jam: A New Legacy”. James stars in this film, which grossed $163 million at the box office worldwide.
LeBron becomes the first active NBA player to make the billionaires list 💰
— ESPN (@espn) June 2, 2022
Before reaching his billionaire status, Lebron James was looking forward to becoming one of the richest. In a 2014 interview, he told GQ, “This is my biggest milestone. I want to maximize my business, and if I happen to be a billion dollar athlete, ho. Hip hop, hooray! Oh my god, I’m going to be excited.”
Although becoming a billionaire isn’t James’ only goal. He also opened I Promise, an elementary school in his hometown of Akron, Ohio. It was set up in 2018 by his Lebrun James Family Foundation.
Born and raised to a struggling 16-year-old single mother, Lebron James got off to a rocky start. He saw living family members, friends and neighbors of all kinds. This got him up when he started playing basketball. Once he was on the NBA spots, he never stopped doing it as he made most of his fortune by handling some savvy business strategies. These investments helped his net worth grow to the billion-dollar mark.