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LeBron James’s First Money Lesson

Follow Forbes, LeBron James just joined the world billionaires club with an estimated fortune of 1 billion USD. James is the first NBA player to become a billionaire while still playing. Before that, another basketball star, Michael Jordan, was also a billionaire. However, he achieved this title in 2014 – more than a decade after ending his career as an athlete.

Last year, the 37-year-old star of the Los Angeles Laker team earned $121 million. James also ranked second in the list of highest-paid athletes in 2022 Forbesjust behind soccer player Lionel Messi.

Follow Spotrac, James – who just ended a two-year, $85 million contract with the Lakers – has made $387 million in salary during his playing career. Meanwhile, Forbes It is estimated that this star “pocketed” $ 900 million from advertising contracts as well as business projects since starting his career in 2003.

LeBron James was born in Ohio into very difficult circumstances. James’s mother gave birth to him at the age of 16 and struggled to make ends meet. Even when he earned a small amount of money, James always saved some. All thanks to a money lesson he learned from his uncles.

“I always received instruction from my uncles and aunts. They taught me how to have a savings account,” James said in a podcast. “They gave me $1 and said, ‘Hey grandson, spend 35 cents of it and keep 65 cents. Or if I give them $2, they’ll tell me, ‘Spend $1 and save the rest’.”

The first money lesson of LeBron James - a basketball star who just became a billionaire - Photo 1.

LeBron James was taught savings lessons from an early age (Image: Getty Images)

With a natural talent for basketball, James joined the St. Vincent-St. Mary High School and scored more than 2,500 points over the course of 4 years.

After graduating, James was first selected by the Cleveland Cavaliers basketball club in the 2003 NBA Draft and was selected as rookie of the year. He owns a “terrible” record with 4 NBA championships, 4 NBA MVP titles and 3 Olympic medals.

The Lebron James Family Foundation also opened I PROMISE School, a public school in Akron, Ohio, in 2018. In 2021, James shared that he hopes to one day own an NBA franchise, after owning it. part ownership of the Boston Red Sox.

“I want to give a lot to this sport. I know what it takes to win. I also know how to run a business. And so my goal is to own an NBA franchise and that’s going to happen soon.”

According to James, he still has a lot of goals to do and no plan to “slow down”. The star could extend a two-year contract with the Los Angeles Laker worth $97 million and hopes to play football with son LeBron “Bronny” James Jr. in the near future.

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