Lebron James will now be called Billionaire Bron from now on.
The financial bible Forbes reports that LeBron James is now a billionaire. The achievement makes James the first active NBA player to accomplish the milestone while still actively playing. He also joins his idol Michael Jordan as one of the NBA’s billionaires. Rare air indeed.
LeBron James has the GOAT beat in this department because he accomplished it quicker. Michael Jordan didn’t achieve billionaire status until 2014, over a decade after he decided to hang up his Air Jordans.
According to Forbes, the Los Angeles Lakers All-Star and future first-ballot Hall-of-Famer reached billionaire status after he “maximized his business” by generating more than $1.2 billion in pretax earnings. During his tenure with three teams during his 19-year career, Bron Bron has earned $383 million, plus “raked in upwards of $900 million in income from endorsements and other business ventures.”
LeBron James Is Playing Chess, Not Checkers
His lucrative endorsement deals with Nike, AT&T, PepsiCo, and Walmart also helped. According to Forbes, adding that James negotiated the deals in a way that he also received equity in those brands giving him a “cut of the upside instead of a quick paycheck,” insert the Roll Safe gif.
The four-time NBA champion is also invested in Blaze Pizza, Lyft, and fitness startup Tonal. We’re sure you have seen those ads of him working out with the uber-expensive workout machine that hangs on your wall.
According to Forbes, LeBron James getting bit by the acting bug and pitching his flag in Hollywood with his TV and Movie production company SpringHill Entertainment valued at around $300 million, also helped him reach billionaire status. Space Jam: A New Legacy earned $163 million at the box office despite launching on HBO Max and in theaters.
Becoming a billionaire was always one of James’ goals.
“It’s my biggest milestone,” the pro-hooper told GQ in a 2014 interview. “Obviously, I want to maximize my business. And if I happen to get it, if I happen to be a billion-dollar athlete, ho. Hip hip, hooray! Oh, my God, I’m gonna be excited.”
Well, congratulations, Bron Bron, you did it. Can we hold something?
You can peep reactions to LeBron James becoming a billionaire in the gallery below.
Photo: Kevin Winter / Getty
Rare Air: LeBron James Joins Michael Jordan As The NBA’s Only Billionaires was originally published on hiphopwired.com