According to Forbes, LeBron James is now a billionaire! Congrats LeBron! He is now the second athlete whose net worth has reached $1 billion. NBA fans are reacting to the news on social media and in one tweet, LeBron was referred to as “Lebillionaire”.
TPS has more;
Things did not go well for LeBron James and his Lakers on the court this season, as the team finished with a 33-49 record and missed out on the playoffs. Off the court, it was a different story for King James, as according to Forbes Magazine, he raked in a cool $121.1 million in 2021.
That massive annual income has now pushed LeBron’s net worth over the $1-billion-mark, making him the only active NBA player in the 10 digit club. Michael Jordan has also reached this milestone in his career, but unlike LeBron, it occurred well after he retired from the NBA.
Although James has made huge money with his basketball contracts, a large portion of his wealth actually comes from his endorsements and other business ventures.
He has a lifetime contract with Nike which pays him a boatload of cash. LeBron also co-founded Springhill Company, which is an Entertainment Development and Production Company said to be worth hundreds of millions. Throw in his stake with Fenway Sports Group as well as Blaze Pizza, just to name a few, and it’s no surprise that James joined the Billionaires Club.
Here is a breakdown on how his money is spread out via Forbes.
James has done just that–maximized his business, to the tune of more than $1.2 billion in pretax earnings. He has commanded more than $385 million in salary from the Cleveland Cavaliers, Miami Heat and Los Angeles Lakers as the NBA’s highest-paid active player. Off the court, he has raked in upwards of $900 million in income from endorsements and other business ventures.
Born to a struggling, 16-year-old single mother in Akron, Ohio, James lived with an assortment of family members, friends, neighbors and his peewee football coach–moving a dozen times in three years–before becoming the most hyped high school basketball prospect of all time. He inked his first deal with Nike in 2003, at age 18, famously rejecting offers from Reebok and Adidas in favor of what he saw as the better long-term partner. Good call. After more than a decade of success, he struck a lifetime agreement with Nike in late 2015 that pays him tens of millions annually. Last year, thanks to Nike, plus deals with brands like AT&T, PepsiCo and Walmart, he was the second-highest-earning athlete in the world.
- THE SPRING HILL COMPANY: $300 MILLION
- FENWAY SPORTS GROUP: $90 MILLION
- REAL ESTATE: $80 MILLION
- BLAZE PIZZA: $30 MILLION
- CASH AND OTHER INVESTMENTS: MORE THAN $500 MILLION
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