NBA: LeBron becomes first active billionaire

Los Angeles Lakers’ LeBron James has become the first NBA billionaire player while still actively playing.

Forbes‘ Chase Peterson-Withorn reported on Thursday, June 2, that James’ net worth surpassed the $1 billion mark after earning $121.2 million in 2021.

James is reportedly the highest-paid active player in the NBA, having earned more than $385 million in total salary from the Cleveland Cavaliers, Miami Heat, and Los Angeles Lakers.

Most of his wealth comes from endorsements and business ventures estimated at over $900 million, including a lifetime yearly deal with Nike of tens of millions.

The four-time NBA champion was the second-highest paid athlete in 2021 behind soccer star Lionel Messi, earning $41.2 million from the Lakers and $80 million in off-the-court ventures.

LeBron in 2021 sold a minority stake in The SpringHill Company, his entertainment, and production company that was behind his movie “Space Jam: A New Legacy” which generated $162.9 million in worldwide sales, and his talk show “The Shop” which moved from HBO to YouTube – to a group of investors for what Forbes estimated to be $725 million.

An estimated breakdown of James’ fortune by Forbes shows he has a $300 million stake in SpringHill, where he remains the largest shareholder; $90 million in the Fenway Sports Group, which includes a minority stake in the Boston Red Sox, Liverpool F.C. and the Pittsburgh Penguins; $80 million in real estate.

This includes homes in Los Angeles, Beverly Hills and his hometown of Akron, Ohio; $30 million in Blaze Pizza, after a reported initial investment of less than $1 million; and more than $500 million in cash and other investments.

He said, “I got so much to give to the game. I know what it takes to win at this level. I know talent.

“I also know how to run a business as well. And so, that is my goal. My goal is to own an NBA franchise, and it will be sooner than later.”