LeBron James becomes the first active athlete to achieve billionaire status.
The time has come for LeBron James, who is front and center on Forbes taking the throne as the first active athlete to become a billionaire.
The King has never been braggadocios when talking about his wealth, but reports have suggested he was getting closer and closer to becoming a billionaire over these past few years. Now, LeBron joins Michael Jordan and Kobe Bryant, who became billionaires after their amazing on-court careers.
According to Forbes, when previously asked about reaching billionaire status, LeBron made sure to point out that’s not the goal, but if it happens, he’ll be excited.
“It’s my biggest milestone, obviously. I want to maximize my business. And if I happen to get it, if I happen to be a billion-dollar athlete, ho. Hip hip hooray! Oh, my God, I’m gonna be excited.” LeBron said.
LeBron’s diverse portfolio and investments paved the way for this day
LeBron James Sr. has made almost $400 million on the court alone playing in Cleveland, Miami, and Los Angeles. The majority of his earnings came from off-court ventures, though, which total $900 million.
The first deal LeBron ever signed was with Nike when he was just 18-years-old. Today, that deal still pays him tens of millions annually, thanks to the lifetime agreement between the two. Endorsement deals also keep Bron’s bank account in good shape, having partnered with Walmart, AT&T, Pepsi, and more.
Another secret to his off-court success is he takes equity over endorsements as he has done with Blaze Pizza, Lobos1017, Tonal, and Lyft. He also has his personal investments such as his production company SpringHill, Fenway Sports Group, BeachBody, and let us not forget his part in the BeatsByDre sale to Apple, plus his massive $80 million real estate portfolio.
It’s safe to say the King is playing chess not checkers and the best part is, he is giving back as much as he’s taking it in.