On June 2nd, 2022, Forbes declared LeBron James officially a billionaire, with his net worth reaching over $1 billion. He is the only player after Michael Jordan to have billionaire status, with Magic Johnson, Junior Bridgeman, and Vinnie Johnson closely following. James regards his savvy business decisions and Nike endorsement contracts as his wisest moves toward billionaire statInterestingly, 192 days before achieving this incredible status James had put himself in with a $284,000 setback by swinging his fists at Detroit Pistons’ Isaiah Stewart.
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Back in 2014, LeBron James asserted in an interview with Forbes that achieving billionaire status would be the ‘biggest milestone of his career.’ Following this achievement, James is the only active basketball player to have achieved this status to date. The only other billionaire with a greater net worth value than James is the great Michael Jordan.
LeBron James’ $284,000 fine for punching Pistons’ Isiah Stewart slowed down the process of becoming a billionaire
During a Lakers vs. Pistons regular season game on 22nd November, LeBron James and the Lakers were trailing by 11 points at the Little Caesars Arena. At such tense moments, LeBron James was expected to rescue the Lakers from this situation. The Lakers entered the game in a much-disappointed form, just under .500.
In the early half of the third quarter, Jerami Grant made a shot from the free-throw line for the Pistons. Meanwhile, LeBron James and Isaiah Thomas heavily contested for the rebound while trying to box each other. However, LeBron James’ charge came off as too aggressive, as the Lakers forward hit Stewart with his elbow.
The hit resulted in Stewart falling to the ground and furious about James’ actions. Stewart tried shoving and heckling the four-time NBA champion but was quickly separated by their teammates. Even then, the young Pistons center tried getting loose and charging toward LeBron James, but his teammates restrained him.
After their altercation, the match referees immediately ejected James and Stewart from the game. The NBA slapped Stewart with a $95,000 fine and a two-game suspension. LeBron James was handed a whopping $284,000 fine and a one-game suspension.
From a broader perspective, losing $284,000 from his $112 million income in 2021-22 was quite a significant blow. However, given the plethora of endorsements and business portfolios James handles, he quickly recovered and got back on track toward becoming a billionaire.
LeBron earns a massive income from both on and off-court earnings
LeBron James has built a massive income portfolio from his on and off-court engagements. From his recent $85.6 million contract with the Lakers, LeBron currently earns over $42.8 million as an active player in the league. However, if we count his income from endorsements and business engagements, James adds $55 million yearly to his net worth.
In 2021-22, James earned fame for being one of the highest-paid basketball players and one of the highest-paid athletes in the world. He stands just behind soccer stars Kylian Mbappe, Lionel Messi, and Cristiano Ronaldo with his yearly earnings in 2021. Therefore, it’s easy to conclude how years of wise and savvy business decisions helped the King reach billionaire status.
