American basketball player LeBron James has added another title to his sports collection: billionaire. Forbes estimates the Los Angeles Lakers star’s net worth at $1 billion, automatically accompanying his colleague Michael Jordan, who has since left the field.
Although he has not finished his basketball career in the NBA, LeBron James has many investments beyond his own assets, making him a billionaire soon before he retires. This is the difference between LeBron and senior Michael Jordan when this superstar only joined the billion-dollar rich group after officially leaving the football field. Forbes estimates that the Los Angeles Lakers star’s net worth is $ 1 billion while still on the field, while M. Jordan takes 11 years after “returning to the garden” to own a fortune of $ 1.7 billion.
LeBron James had many investments right before the end of his NBA career. AFP photo
Also according to Forbes’ estimates, last year alone James earned $121.2 million, a figure slightly below Lionel Messi’s when the soccer superstar took home $130 million in 12 months, and James considers that also an important milestone in his career. Despite earning nearly $400 million in salary during his NBA career with the Lakers, Cleveland Cavaliers and Miami Heat, James’s off-court earnings are no less competitive than when he hits the ball. At the age of 37, he has made more than $900 million from investments and businesses, of which is typically $725 million from the SpringHill entertainment group he owns.
James’s SpringHill has produced television shows such as The Shop, the documentary about female tennis player Naomi Osaka, and the movie production Space Jam: A New Legacy in which he himself starred. LeBron also owns a 1% stake in Fenway Sports Group, the parent company of the likes of Liverpool FC and the Boston Red Sox, and recently bought the NHL’s Pittsburgh Penguins hockey team. And yet, James also bought a 10% stake in Blaze Pizza for less than $ 1 million in 2012 and is now profitable when the current value of this pizza brand is $ 30 million.
LeBron James has a contract with the Lakers until the end of the 2022-23 season, after which he will become a free agent. AFP photo
The under-40-year-old’s real estate portfolio is estimated at $80 million, including a $10 million building in his hometown of Akron, Ohio, and two private properties in Los Angeles that total $60 million. As the son of a single mother, James has put a significant amount of money back home to invest in opening schools, planning housing and a community center to support poor families with many young people.
Counting on the field, LeBron James has won four NBA championships, was named the MVP (Most Valuable Player) of the tournament four times, was selected to the 18 All-Star Team of the Year, and won two Olympic gold medals. Recently, the new billionaire LeBron James also expressed his desire to own an NBA team in the very potential market of Las Vegas, with the ambition of establishing an NBA franchise in this “Sin City”.
LeBron James is the first NBA player to become a billionaire while playing. Getty Images
At the age of 37, although he has begun to experiment with owning a professional team, James is still under contract with the Lakers until the 2022-23 season, but has not yet become a free agent. In March 2021, James became part owner of the Boston Red Sox of Major League Baseball after he joined as a partner Fenway Sports Group (FSG), which owns English Premier League Club Liverpool.
The NBA hasn’t expanded since growing from 29 to 30 teams with the addition of the Charlotte Bobcats in 2004. The most recent team to join this playground is the Minnesota Timberwolves, which, although not long ago, managed to earn $1.5 billion in 2021. However, during the recent annual tournament’s annual press conference, NBA commissioner Adam Silver revealed there are currently no plans to expand. So this will probably be another potential resource for a business-loving LeBron to exploit when he is no longer roaming the field, ie leading an NBA team.
