LeBron James Officially Named a Billionaire
6/3/2022 2:01:20 PM

LeBron James has become the first active NBA player to become a billionaire.

According to Forbes, the Los Angeles Lakers player has "maximized his business," with pretax earnings of more than $1.2 billion. 

James' NBA salary has totaled $383 million over the last 19 years with three different clubs, while he has "raked in upwards of $900 million in cash through sponsorships and other commercial ventures".

Along with lucrative endorsement deals with Nike (NKE), AT&T (T), PepsiCo (PEP), and Walmart (WMT), Forbes reported that James arranged his deals to incorporate equity in those businesses, allowing him a "share of the upside rather than a quick payment."

The four-time NBA champion has also invested in Tonal, a fitness business, Lyft, and Blaze Pizza, a fast-growing restaurant.

SpringHill Entertainment, a TV and film studio valued at $300 million by Forbes, is another lucrative venture for James. 

"Space Jam: A New Legacy," a film in which James appeared and which grossed $163 million worldwide, was produced with the assistance of his film studio.

The only other basketball billionaire on Forbes' list is Michael Jordan.

Courtesy: Fourth Estate