LeBron James – The Basketball Star Who Just Became Billionaire and The First Money Lesson He Get
According to Forbes, LeBron James has just joined the world’s billionaires club with an estimated fortune of about 1 billion USD. James is the first NBA athlete to become a billionaire while still playing. Before that, another basketball star, Michael Jordan, was also a billionaire. However, he achieved this title in 2014 – more than a decade after ending his career as an athlete.
Last year, the 37-year-old star of the Los Angeles Lakers team earned $121 million. James also ranked second on Forbes ‘ list of highest-paid athletes in 2022, behind only football player Lionel Messi.
According to Spotrac, James – who just ended a two-year contract worth $85 million with the Lakers – earned $387 million in salary during his playing career. Meanwhile, Forbes estimates that this star “pocketed” 900 million USD from advertising contracts and business projects since starting his career in 2003.
LeBron James was born in Ohio under very difficult circumstances. James’ mother gave birth to him at the age of 16 and struggled to make ends meet. Even when he first earned a small amount of money, James always saved some of it. All thanks to a money lesson he learned from his uncles.
“I always received guidance from my uncles. They taught me how to have a savings account,” James said in a podcast. “They gave me a dollar and said ‘Hey kid, spend 35 cents of it and keep 65 cents. Or if they give me $2, they will tell me, ‘Spend $1 and save the rest.’”
With a natural talent for basketball, James joined the St. Vincent-St. Mary High School and scored more than 2,500 points over the course of four years.
After graduating, James was selected by the Cleveland Cavaliers basketball club as the first pick in the 2003 NBA Draft and was selected as the rookie of the year. He owns a “huge” track record with 4 NBA championships, 4 NBA MVP titles, and 3 Olympic medals.
The Lebron James Family Foundation also opened I PROMISE School, a public school in Akron, Ohio, in 2018. In 2021, James shared that he hopes to one day own an NBA franchise, after owning Part-owned by the Boston Red Sox.
“I want to contribute a lot to this sport. I know what it takes to win. I also know how to run a business. And so, my goal is to own an NBA franchise and that will happen soon.”
According to James, he still has many goals to achieve and has no plans to “slow down”. The star can extend his two-year contract with the Los Angeles Lakers worth $97 million and hopes to play football with his son LeBron “Bronny” James Jr. in the near future.
