LeBron James has etched his name in the history books as the inaugural current NBA athlete to achieve billionaire status. His immense fortune has now exceeded the remarkable milestone of $1 billion. With an illustrious career that boasts four NBA championships, an impressive 18 NBA All-Star appearances, and three Olympic medals, James has undeniably cemented his status as a legendary figure in the world of basketball. Adding to his repertoire of accomplishments, the superstar was recently spotted gracing the red carpet at the Los Angeles premiere of the film “Hustle” on June 1.
According to a recent article on Forbes, LeBron James has officially become a member of the billionaire club, having earned over $121 million this year alone. This impressive milestone only reinforces his well-known title of “King James” as he continues to dominate not only on the basketball court but also in the business world. Unlike fellow NBA legend Michael Jordan, who achieved billionaire status post-retirement, James has reached this feat while still an active player. Jordan’s current net worth stands at $1.7 billion, a slight decline from $2.1 billion the previous year due to various investment and endorsement changes. The majority of James’ earnings can be attributed to his successful business ventures and lucrative endorsement deals with major brands like Nike, Walmart, Beats by Dre, and Blaze Pizza. Remarkably, when James initially began his professional basketball career with the Cleveland Cavaliers in 2003, he signed a four-year contract worth $18.8 million. However, his worth skyrocketed when he decided to re-sign with the Cavaliers in 2007, tripling his salary.
Jay Williams’ show titled “The Limits” recently featured an insightful conversation with Maverick Carter about the remarkable growth of LeBron James’ business empire. In 2018, the Los Angeles Lakers sealed a ground-breaking deal with James, offering him an astonishing $153 million. In another exciting development, James has just inked another contract with the Lakers worth an impressive $85.7 million for a duration of two years, guaranteeing him a base salary of nearly $44.5 million.
What sets James apart is that he doesn’t just accumulate wealth for himself. Since 2004, he has been actively involved in philanthropy through the establishment of the LeBron James Family Foundation. The foundation’s primary objective is to enhance the lives of children in James’ hometown, Akron, Ohio.
A significant initiative launched by the foundation in 2018 is the I PROMISE School, a collaboration with Akron Public Schools. This innovative institution aims to provide comprehensive support to at-risk students and their families in Akron, ensuring they receive the necessary resources and opportunities to succeed.