Welcome to the Billionaire's Club Lebron James

Last week, it was announced that LeBron had made history by becoming the first active player in the NBA to become a billionaire. This is a huge feat. In 2014, LeBron told GQ: “If it happens. It’s my biggest milestone,” 

How did he do it? Let’s break it down.

LeBron was born in Akron, Ohio, in 1984. His mother, Gloria James, was 16 when LeBron was born - her first and only child. He once said: “She put me first. I went without a lot of things, but never for one second did I feel unimportant or unloved.”

After being hyped as one of the best high school basketball prospects of all time, he signed a deal with Nike at 18, rejecting offers from Reebok and Adidas. This relationship with Nike has grown massively throughout the years and struck a lifetime agreement with Nike in 2015, which sees him make over £10m+ per year. 

LeBron earned $64 million in four seasons with the Miami Heat; $153 million in four seasons with the Los Angeles Lakers, and $170 million in 11 seasons with the Cleveland Cavaliers. He was also named the second-highest-earning athlete in the world due to some of his endorsements with companies such as AT&T, PepsiCo, and Walmart.

The secret to LeBron’s fortune wasn’t solely on the court, but how he structured his deals, giving him equity in the companies he partners with. In 2015, James walked away from a $15m endorsement deal with McDonald’s and instead took a gamble on the fast-growing chain, Blaze Pizza. LeBron has also taken equity in brands like smart gym-maker Tonal and rideshare giant, Lyft.

Let's dive into his business and investments:

He launched SpringHill Company, a TV and film production company with business partner Maverick Carter in 2020. Last year, it was valued at $725m -raised from investors incl Boston Red Sox owner, Fenway Sports Group, Nike and Epic Games. LeBron’s stake is reportedly worth $300m

In 2011, LeBron acquired a minority stake in Liverpool FC for £4.7m. Last year, he exchanged his stakes for part ownership of Fenway Sports Group (FSG), which owns the Boston Red Sox, Fenway Park, and Liverpool  His stake in FSG is reported to be worth $90m

LeBron has a real estate portfolio worth an estimated $80m. He bought an 8-bedroom house in LA in 2017 for $23 million and recently paid $36.75m for a 13,000-square-foot Beverly Hills mansion.

He reportedly paid less than $1m for a 10% slice for Blaze Pizza, which has grown to more than 300 stores throughout the US and Canada. He owns 18 franchise stores is worth about $30m

LeBron’s other investments - reported to be worth more than $500m - have given him huge dividends, incl the $3 billion sale of Beats by Dre to Apple in 2014, and shares of fitness company Beachbody, which acquired Ladder, the sports nutrition company he co-founded with Arnold Schwarzenegger in 2020 for $28 million in stock. 

And, on the court, LeBron’s achievements include being an 18-time NBA all-star, 4-time NBA champion, and 2-time Olympic gold medalist. A history-making Black billionaire. Congratulations, Lebron 🚀🚀