LeBron James, a U.S. professional basketball player and one of the world’s richest Black individuals, has experienced a notable increase in his net worth owing to his diverse investment portfolio and lucrative endorsement deals.
Forbes reports that James, who is widely considered one of the greatest NBA Players in history, has witnessed a remarkable $150-million surge in his net worth since the start of this year.
According to data tracked by Billionaires.Africa, James became the first active NBA player to reach billionaire status in June 2022. However, later in the same year, his net worth fell from $1 billion to $850 million.
Despite this setback, his diversified investment portfolio and lucrative endorsement deals have helped him bounce back, with his net worth rising by $150 million since the start of this year, increasing from $850 million on Jan. 1 to $1 billion as of the time of writing this report.
In 2022, James became the second-highest-paid athlete in the world, having earned a staggering $121.2 million, surpassing the NBA record of $96.5 million that he himself set in 2021.
Of this total, his off-field earnings were estimated at an impressive $80 million, while his on-field earnings – consisting of all prize money, salaries, and bonuses earned between May 1, 2021, and May 1, 2022 – amounted to $40 million. This remarkable feat made him one of only ten athletes ever to have earned $100 million or more in a single year.
In addition to this, James made a shrewd business move in 2022 by selling a sizable minority stake in his production company, SpringHill, at a valuation of about $725 million.
The strategic move propelled his estimated net worth to $850 million.
He invested a portion of these proceeds into Tonal, a home gym company, and StatusPRO, a sports tech startup that designs virtual reality training products.
Additionally, he became a co-owner of A.C. Milan, an Italian football club.