Billionaire athlete LeBron James’ secret “money makes money” was taught by his uncle since he was 3 years old: “Go out to eat, go out with 1 dollar, but save the remaining dollar”
With the little money he earns, billionaire LeBron James always puts some money aside, thanks to a lesson about money from his uncles.
According to Forbes, LeBron James has officially become a billionaire. This makes James the first NBA player (still playing) to reach this milestone, and the second NBA player to achieve billionaire status, joining retired basketball star Michael Jordan.
James, a striker for the Los Angeles Lakers basketball club, is the highest-paid player in the NBA, earning $121 million (about VND 2,800 billion) last year both on and off the court. He is in second place on Forbes’ list of the 10 highest-paid athletes in 2022, behind Lionel Messi, the famous football player.
Overall, James has earned $387 million from the Cleveland Cavaliers, Miami Heat and Los Angeles Lakers, and also earned another $900 million from other sponsorship deals, such as lifetime contract with Nike, the Blaze pizza franchise, and ownership of a video production company all put his pre-tax income at over $1.2 billion.
Professional basketball player, billionaire LeBron James
With a natural talent for basketball, James was accepted by St. Vincent–St. Mary High School admitted in 1999, where he scored more than 2,500 points during his four years on the team.
In the 2003 NBA Draft, James was voted No. 1 overall by the Cleveland Cavaliers. His NBA debut was described as “one of the most impressive games in league history,” as he recorded 25 points, 6 rebounds, and 9 assists. James went on to become a four-time NBA MVP, winning four championships and three Olympic medals.
The athlete’s organization, the Lebron James Family Foundation, also founded I PROMISE School, a public school in Akron, Ohio, in 2018. The school has committed to helping students who are at risk of being “left behind.” academic success.
James, an Ohio native, had a difficult childhood, as his young mother struggled to make a living to support the family. With the little money he earned, James always put some aside, thanks to a lesson about money from his uncles.
“My uncles always taught me how to have a savings account,” James shares in a podcast on his web platform, UNINTERRUPTED. “They would give me a dollar and say, ‘Listen, nephew. , spend 35 cents of it and keep the other 65 cents.’ Or, if they give me two dollars, they’ll say, ‘Go ahead, go party for a dollar, but save the dollar remaining.'”
And that lesson follows James to this day, even when he is a billionaire.
In 2021, James expressed hope to one day own an NBA franchise, after becoming part owner of the Boston Red Sox baseball team.
“I have a lot to offer to the game. I know what it takes to win at this level. I know how to recognize talent. I also know how to run a business. And so, That’s my goal. My goal is to own an NBA franchise, and things will happen as quickly as possible.” James told the interviewers.
James has a lot of things he wants to do in life and he has no plans to “slow down”. He’s eligible for a two-year, $97 million contract extension from the Lakers, and he hopes to play with his son, LeBron “Bronny” James Jr., in the near future.
