With the little money he earns, billionaire LeBron James always puts some money aside, thanks to a money lesson from his uncles.
According to Forbes, LeBron James has officially become a billionaire. This makes James the first (still playing) NBA player to reach the milestone, and the second NBA player to achieve billionaire status, along with retired basketball star Michael Jordan.
James, a forward for the Los Angeles Lakers basketball club, is the NBA’s highest-paid player, earning $121 million last year both on and off the field. He is in second place on Forbes’ list of 10 highest-paid athletes in 2022, behind Lionel Messi, the famous football player.
Overall, James earned $387 million from the Cleveland Cavaliers, Miami Heat, and Los Angeles Lakers, and also earned another $900 million from other sponsorship deals, such as the original. Lifetime contracts with Nike, pizza franchise Blaze or owner of a video production company all bring his pre-tax earnings to more than $1.2 billion.
Professional basketball player, billionaire LeBron James
With a natural talent for basketball, James was sent to St. Vincent–St. Mary High School admitted in 1999, where he scored over 2,500 points during his 4 years on the team.
In the 2003 NBA Draft (basketball rookie selection day) James was voted number 1 overall by the Cleveland Cavaliers basketball team. His NBA debut was described as “one of the most impressive in league history,” as he scored 25 points, 6 rebounds and 9 assists. James went on to become the NBA’s four-time MVP (player of the year), winning four championships and three Olympic medals.
The athlete’s organization, the Lebron James Family Foundation, also established School I PROMISE, a public school in Akron, Ohio, in 2018. The school is committed to helping students who are at risk of being “forgotten.” academic success.
James, an Ohio native, had a difficult 𝘤𝘩𝘪𝘭𝘥hood, as his young mother struggled to make ends meet for the family. With the little money he earned, James always put some aside, thanks to a money lesson from his uncles.
“My uncles always taught me how to have a savings account,” James said in a podcast on his web platform, UNINTERRUPTED . They’ll give me a dollar and say, ‘Listen, grandson, spend 35 cents of that and keep the other 65’. Or, if they give me two dollars, they’ll say, ‘Go, hang out with $1, but save the other dollar.’”
And that lesson follows James to this day, even as he is already a billionaire.
In 2021, James expressed hope to one day own an NBA franchise, after becoming a part owner of the Boston Red Sox baseball team.
“I have a lot to give to the game. I know what it takes to win at this level. I know how to recognize talents. I also know how to run a business. And so that’s my goal. My goal is to own an NBA franchise, and it’s going to happen as quickly as possible.” James told the interviewers.
James has a lot of things he wants to do in life and he has no intention of slowing down yet. He’s eligible for a two-year, $97 million contract extension by the Lakers, and he hopes to play with his son, LeBron “Bronny” James Jr., in the near future.
