LeBron James might claim just to be a kid from Akron, but he continues to make history and recently became the first active NBA player to become a billionaire.
The four-time NBA champion’s net worth of $1 billion was reported by Forbes on Thursday, which said James, 37, earned roughly $121.2 million last year.
“It’s my biggest milestone,” James said in a 2014 interview. “Obviously, I want to maximize my business. And if I happen to get it, if I happen to be a billion-dollar athlete. Hip hip, hooray! Oh, my God, I’m gonna be excited.”
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Maximizing his business, James’s total pretax earnings are estimated to be $1.2 billion, according to the report.
Roughly $385 million come from his NBA salary, but the bulk of the sports icon’s earnings comes from off-the-court ventures.
The athlete has raked in more than $900 million from endorsements and other businesses.
James has not had an easy path to success.
He was born to a 16-year-old single mother in Akron, Ohio, and moved more than a dozen times before he reached high school, where he grabbed national attention on the court.
James signed with Nike at the age of 18 in 2003 and, following over a decade of success, penned a lifetime agreement with the brand in 2015.
The two-time Olympic gold medalist is an experienced businessman and has gone out of his way to structure deals in a manner that grants him equity in brands, the report noted.
The “King” seeks a portion of the upside, not just a quick paycheck.
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His portfolio includes roughly $300 million in the SpringHill Company, $90 million in Fenway Sports Group, $80 million in real estate, $30 million in Blaze Pizza, and over $500 million in cash and other investments.
