New billionaire LeBron James shatters his own earnings record for NBA player
Off the hardwood, James continues to shatter records—including his own.
Following a slew of massively lucrative deals for LeBron, Inc., — combined with the $41.2 million salary he earns for his day job — the four-time champion raked in $111.2 million over the past calendar year, far exceeding the previous record of $96.5 million, which James set last year.
It’s the eighth consecutive year in which James has finished atop Forbes’ list of the NBA’s highest earners.
As you probably already calculated, James pulled in $70 million in off-court money over the past 12 months, thanks to a variety of shrewd business moves. On Thursday, it was announced that he’ll be selling his stakes of the SpringHill Company in a deal that includes Nike, Epic Games, and Fenway Sports Group.
“He continued his march toward billionaire status this week when his media and entertainment business, the SpringHill Company, announced the sale of a minority stake at a valuation of about $725 million. The Los Angeles-based company does everything from producing movies and documentaries … to doing marketing work for the likes of J.P. Morgan. James is not expected to pocket much cash from the deal, instead reinvesting the bulk of the proceeds into the business … James and his business partner Maverick Carter will retain a controlling interest in the company, which has a TV deal with ABC Studios and a first-look film agreement with Universal Pictures.”
Maverick Carter spent Thursday morning doing the rounds on CBS Mornings and CNBC in the wake of the sale.
Mav doing the rounds today in the wake of SpringHill’s massive deal https://t.co/JEN2n2sLZj
— michael corvo (@michaelcorvoNBA) October 14, 2021
James’s portfolio includes a billion-dollar lifetime contract with Nike and deals with Coca-Cola, Beats By Dre, KIA Motors, and NBA 2K. He owns 14 franchises and equity in the fast-growing chain, Blaze Pizza.
He also counts State Farm, Dunkin Donuts, Upper Deck, Baskin Robbins, Verizon, Intel, and Swiss watch company Audemars Piguet among his endorsements. LeBron co-launched a sports performance and wellness company, Ladder, alongside Arnold Schwarzenegger.
In general, the past decade has been fiscally kind to NBA stars. Per Forbes:
“Combined, the NBA’s ten top-earning players are set to make $714 million, up 28% from 2020-21 and 19% from the previous high of $600 million from 2019-20. It also represents a staggering 132% increase from a decade ago.”
Golden State Warriors guard Stephen Curry ($92.8 million) came in second on the latest list, followed by Brooklyn Nets star Kevin Durant ($87.9 million), Milwaukee Bucks champ Giannis Antetokounmpo ($80.3 million), and LeBron’s Lakers teammate, Russell Westbrook ($74.2 million).
Forbes estimates James’ net worth at $850 million. Not bad for a kid from Akron!