LeBron James becomes a billionaire while still playing in the NBA
By Marcus Lamar
Here is the list of players that became a billionaire while still playing in the NBA: LeBron James.
End of list.
There’s only one other player in NBA history who has reached billionaire status in their lifetime, and that’s Michael Jordan. Jordan, of course, accomplished that feat post-retirement, in large part due to his immense popularity and success at Nike’s Jordan Brand.
According to an article by Sportico, James has earned $330 million in playing salary since being drafted by the Cleveland Cavaliers in 2003. Meanwhile, off the court, he has raked in an additional $700 million in endorsements, licensing, merchandise, and his media company: Springhill Entertainment.
That’s right, the kid that grew up in Akron, Ohio, idolizing No. 23 for the Chicago Bulls and dreaming of playing in the NBA, can now boast that he is in the same club as the likes of Jeff Bezos and Mark Zuckerberg. Well, not exactly an apples-to-apples comparison, but you understand the point I’m trying to make.
James has accomplished many firsts in his storied NBA career, and his latest power move just added another one to the list. He joins Tiger Woods, Floyd Mayweather, Cristiano Ronaldo, Lionel Messi, and Roger Federer as the only players to earn the distinction of becoming a billionaire while still actively playing their respective sport.
To steal a line from Brooklyn-born rapper and good friend of the KING, Jay-Z…
LeBron James isn’t a businessman; he’s a business, man.
And behind every great business is even greater business partners. The three business partners responsible for advising and handling the day-to-day operations of “Team Lebron” are Maverick Carter, Rich Paul, and Randy Mims.
When LeBron James was drafted straight out of Saint Vincent-Saint Mary high school, he knew the importance of surrounding himself with people who had his best interests at stake.
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While many might view the business empire he’s created as him just employing his childhood friends (we didn’t forget what you said Phil Jackson), that couldn’t be further from the truth. Carter, Paul, and Mims have all contributed equally to growing the brand that is LeBron. However, his business partnership with them is very much mutually exclusive.
We all know James has been the face of the NBA for the better part of the last decade. He is the most polarizing player in the league, and the gap between him and the next most discussed player isn’t even close. He is the most interesting athlete in all of North America if we’re emotionally honest with ourselves.
He currently has the NBA’s best-selling jersey and has respectfully held that honor the last two seasons. People tune in to see him, win or lose. They travel on the road to watch him play. NBA fans and the American sports media have an obsession with James, primarily because whatever team he plays for drama seems to follow inevitably, but that’s another conversation for another day.
But, what’s most impressive about James and his team is that they’ve managed to reach the pinnacles they have while still allowing James to tackle social and political issues, something that some of his predecessors —specifically Jordan — consciously chose to avoid.
Yes, I’m aware that we live in a different era, and the revenue generated from the television deals combined with endless opportunities to enhance one’s brand outside of playing basketball are plentiful.
So, James lending his name to a cause or speaking up about a particular issue might not have the same financial implications it did 25 years ago. However, James reaching the three-comma club is a testament that you can still attain generational wealth even if you choose to voice opinions or feelings that can “jeopardize” your business interests.
Did James have some missteps along the way? Absolutely, but name me somebody in life who hasn’t. His famous tagline “More Than An Athlete” is fitting because he’s more than just a 4X-NBA Champion and 4X-NBA Finals MVP when you look at his life.
He opened the I Promise School, a public elementary school in his hometown of Akron. And his endorsements with popular companies like Beats, Blaze Pizza, AT&T, Walmart, GMC, PepsiCo, Rimowa, and Nike ensure that James’ presence off the court is felt just as much as it is on the court.
Oh, did I mention he also became a partner in Fenway Sports Group, which owns the Boston Red Sox, Liverpool Football Club, and Roush Fenway Racing, among other businesses?
“I feel if I play my game, the rest will take care of itself,” LeBron James once said. Well, he’s playing the game of life, and he’s winning.