Lakers’ LeBron James is the first active NBA player to become 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(NKE), AT&T(T), PepsiCo(PEP) and Walmart(WMT), 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.