LeBron James has joined the billionaire club. The Los Angeles Lakers superstar officially boasts a net worth of $1 billion, according to Forbes, making him the first active NBA player to reach billionaire status. He joins Michael Jordan, as the only NBA players to reach this milestone.
Although he has earned more than $385 million in salary during his illustrious 19-year NBA career, the majority of his fortune has been amassed by his various business ventures off the court.
The Spring Hill Company, his entertainment platform, produced “Space Jam: A New Legacy,” which grossed $163 million in box office receipts worldwide. The company is also his marketing agency Robot Company, his athletic content brand Uninterrupted, and SpringHill Entertainment is worth an estimated $300 million.
James’ 1 percent stake in the Fenway Sports Group, which owns the Boston Red Sox, Fenway Park, and Liverpool Football Club, is worth $90 million. The investment collective also owns stakes in the Pittsburgh Penguins, New England Sports Network, and Roush Fenway Racing.
His real estate holdings include mansions in Los Angeles, Beverly Hills, and Akron, Ohio which are appraised at $80 million combined.
One of his early investments that has paid major dividends was his 10% purchase of Blaze Pizza in 2012. A decade later, the company has expanded to over 300 stores in the United States and Canada. He also owns 18 individual franchises in Florida and Illinois that are worth $30 million.
Other investments in brands such as Beats by Dre, the sports nutrition company Ladder, Tonal and Lyft, add another $500 million to his massive portfolio.
James has been accumulating his fortune so he can be in a position to realize his dream of owning an NBA franchise which he confirmed last year.
"I got so much to give to the game. I know what it takes to win at this level. I know talent," he told reporters. "I also know how to run a business as well. And so, that is my goal. My goal is to own an NBA franchise, and it will be sooner than later."
With his new billionaire status, James is well on his way to achieving his goal of becoming an NBA owner.
