Lebron James expanded his vast list of achievements on the basketball court on Tuesday night, the 7th, when he scored 38 points in a loss to the Los Angeles Lakers to surpass the Kareem Abdul-Jabbar’s NBA scoring record.
Another of his impressive feats: he became a billionaire while dominating a league he’s been a part of for two decades.
Jamie, 38 years old, He has a net worth of about $1.1 billion., according to the Bloomberg Billionaires Index, which assesses his wealth for the first time. His wealth is made up of a combination of his National Basketball Association salary (tens of millions of dollars a year from recent seasons), as well as endorsements, investments and his own consumer and entertainment business, SpringHill Co.
Basketball player LeBron James broke revenue record in NBA history
Nicknamed “King James” since his prodigious high school career led the Cleveland Cavaliers to pick him first in the 2003 NBA draft, James has since said he wants to be a billionaire. He has rubbed shoulders with corporate executives and dined with Warren Buffettwho in 2015, in a television interview, advised him that “made monthly investments in a low-cost index fund”.
“Someone else is going to do better with this or that, but someone else is also going to do a lot worse with this or that,” said Buffett, now 92, who ranks fifth in the Bloomberg Index. of the richest people in the world with a fortune of US$109.1 billion. “His skill is in making a lot of money doing something that they do extremely well, but in general he won’t be able to take the time to become a professional investor as well. So I give you the same advice that I give 99% of people.”
James has proven to be part of that minimum 1%.
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SpringHill was recently valued at around $725 million after James and his business partner, Maverick Carter, sold a minority stake to a group of investors, including Nike Inc., the company with which James entered into a lucrative lifetime endorsement in late 2015. That agreement provides James $1 billion over his lifetime.
James has also worked with companies such as the Blaze Pizza restaurant chain, acquiring a stake valued at tens of millions of dollars. It raised more than $100 million after Beats Electronics was sold to Apple Inc. for $3 billion in 2014. In 2021, James converted his 2% stake in Liverpool FC into 1% of his owner’s Fenway Sports Group, which oversaw a portfolio valued at around $10bn.
James, whose salary is US$44.5 million this year, averages 30 points per game for the Lakers, the seventh-most in the league. He also ranks 12th in assists and is in the top 30 in rebounding, and after about 20 years in the NBA, he still fills the stat sheet.
He has suggested that his goal is to stabilize long enough to take the court with his son, Bronny, a high school senior who is widely considered an elite prospect. They would be the first father and son duo to play together in an NBA game.
“My last year I will play with my son,” James told The Athletic a year ago. “Money will not be an issue at that time.”
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