LeBron James is now a billionaire

LeBron James is a billionaire, marking the first time an active NBA player has achieved that milestone, according to one calculation.

Forbes said that the Los Angeles Lakers star has"maximized his business," generating more than $1.2 billion in pretax earnings. His NBA salary from three different teams during the past 19 years has amounted to $383 million, and James has"raked in upwards of $900 million in income from endorsements and other business ventures," the magazine said.

In addition to lucrative endorsement deals with Nike, AT&T, PepsiCo and Walmart, Forbes said that James structured his deals to include equity in those brands, giving him a"cut of the upside instead of a quick paycheck." The four-time NBA champion also has investments in fitness startup Tonal, ridesharing company Lyft and eatery upstart Blaze Pizza.

People are also reading… Another lucrative investment for James is TV and movie studio SpringHill Entertainment, which Forbes values at around $300 million. The studio helped produce"Space Jam: A New Legacy," a movie he starred in that earned $163 million in box office receipts worldwide."It's my biggest milestone," he told GQ 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, ho.

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.Who is the highest paid player on every NBA team? Houston Rockets: John Wall - $44,310,840 Interactive: Search 2021-22 NBA salaries Loading... Tags Be the first to know Get local news delivered to your inbox!

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