LeBron James Becomes the First Active Basketball Player to Hit The Billionaire Status
- Basketball star, LeBron James has become a billionaire, becoming the first active player in NBA history to achieve the feat
- The Los Angeles Lakers player earned about $1.2 billion in pretax income made about $383 million in his 19-year-old career
- According to Forbes, the star notched up several endorsement deals most which were converted to equities in companies
LeBron James has hit the billionaire status while still an active basketball player. He is the first to hit that milestone.
Forbes magazine reports that the Los Angeles Lakers star generated more than $1.2 billion in pretax earnings.
Source: Getty Images
His salary in NBA from three different teams in his 19-year career amounted to $383 million and has raked about $900 million in endorsements and other businesses, Forbes said.
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Smart moves that made him a billionaire
Apart from his high-paying endorsement deals with Nike, PepsiCo and Walmart, the magazine said that the basketball star made his deals to include stocks in those brands which gave him a cut of the upside rather than a quick cheque.
CNN reports that the four-time NBA champ also has investments in fitness startup Tonal, the ridesharing company Lyft and eatery upstart Blaze Pizza.
A star move player
He also invested in TV and movie studio, SpringHill Entertainment, which according to Forbes, is valued at $300 million. He started in Space Jam: A New Legacy, a movie that earned about $163 million at the box office worldwide.
He said he has since dreamed of becoming a billionaire, according to a 2014 GQ interview.
Notably, Michael Jordan is the only other basketball billionaire on Forbes' list. He didn't achieve that until 2014, more than a decade after he retired.
Top 30 richest athletes in the world and their net worth in 2022
Legit.ng has reported that the modern-day sporting industry is full of opportunities to make colossal amounts of money.
This comes from the significantly high salaries paid to players, numerous endorsement deals, television rights, and many other money-making avenues. As a result, the world's richest athletes are worth huge fortunes from money made on and off the field. So who are these athletes, and what is their net worth in 2022?
The wealthiest athletes in the world come from a wide range of sports, the most common being basketball, tennis, football, and Formula One racing.
Source: Legit.ng
