How LeBron James Spends His Staggering Fortune
LeBron James may now be the all-time scoring leader in the history of the NBA, but he’s also winning off the court. He officially became a billionaire in June 2022, according to Forbes. Part of this wealth comes from his jaw-dropping salary, of course, but so much more is thanks to his savvy off-court investments. But — and this is what everybody really wants to know — how does the King spend his money?
He's good with his money
James could be careful about money because he wasn’t wealthy growing up. As a child, the future NBA star was raised on welfare and used food stamps to get meals. At one point, he even had to sleep on a couch instead of in a proper bed. The young James regularly skipped school and seemed destined for a life of little hope... until he turned it around in style.
Earning his way
His life began to change when a nine-year-old James was signed on to a youth basketball team in his native Akron, Ohio. And he quickly excelled at the sport, of course. He would end his high school senior year as arguably his team’s most promising player. His first big day shortly followed.
His first payday
In 2003 he was the first person to be selected in the NBA draft. James was picked by the Cleveland Cavaliers and signed a three-year, $12.96 million rookie contract. It was a canny move by the team, as his first season proved to be a very successful one. The 2003 to 2004 basketball season even saw him honored with the prestigious Rookie of the Year Award.
Multi-million-dollar contracts
Throughout his career, too, James has gone from strength to strength — and from massive paycheck to massive paycheck. In 2006 he signed a three-year, $60 million contract extension with the Cavaliers. Then in 2010, James opted for a six-year, $110 million deal with the Miami Heat. The player also earned four MVP awards and won the NBA Championships four times. He also took home gold medals from the 2008 and 2012 Olympic Games.
