LeBron James: How the king of the NBA makes and spends his millions

29.09.2020 23:49

ThisIsinsider.com

Summary List Placement

On the court, LeBron James has won four NBA MVP awards, three NBA championships, and is the third-highest-paid player in league history.

Off the court, James is equally relentless. In late 2015, James signed a lifetime endorsement deal with Nike worth more than $1 billion — a move that was so big it is more like the merger of two corporations.

As a result of his success on and off the court, James has amassed amazing cars and houses and still has time for his surprisingly ordinary family. King James is also well on his way toward his goal of becoming a billion-dollar athlete.

Check out how he spends his money below:

Tony Manfred and Emmett Knowlton contributed to this report.

LeBron James is one of the most accomplished players in NBA history.

He's also one of the wealthiest.

LeBron has made $310.1 million in career NBA salary, good enough for third-most all-time.

He recently joined Kobe Bryant and Kevin Garnett as the NBA's only $300 million players.

But in addition to his NBA salary, LeBron also makes roughly $60 million per year off the court in endorsements.

Source: Forbes

His estimated $88.2 million in total annual earnings is fifth among all athletes, trailing only Roger Federer, Cristiano Ronaldo, Lionel Messi, and Neymar.

In 2016, it was estimated that James had a net worth of $275 million and growing.

Source: Forbes

His endorsements include Beats, Intel, Sprite (Coca-Cola), and Kia.

He also has a monster deal with Nike.

The company signed him to a seven-year, $93 million deal right out of high school.

And in December 2015, Nike signed him to a lifetime deal that will go far beyond the standard shoe endorsement and is expected to be worth $1 billion.

James used to have an endorsement deal with McDonald's, but he gave up $15 million in choosing not to renew it in 2017.

Source: Forbes

Instead, he became a spokesman for Blaze Pizza, a company where he was a founding investor.

Economists have estimated he was worth as much as $500 million to the city of Cleveland.

Source: Time

So when he left the Cavaliers to join the Los Angeles Lakers in the summer of 2018, it was a huge blow to The Forest City.

He's also quite the businessman himself.

He owns a piece of Liverpool FC, the esteemed English Premier League club.

Source: Sporting News

LeBron bought a 2% stake in the team for about $6.5 million.

His share is now worth about $32 million.

Warren Buffett said of LeBron, "He's savvy. He's smart about financial matters. It's amazing to me the maturity he exhibits."

Source: Sporting News

In 2015, LeBron's media venture, Uninterrupted, got $16 million from Warner Bros.

Source: Bloomberg

The most anticipated project that is expected to come from the partnership is "Space Jam 2," a sequel to the popular basketball movie that starred Michael Jordan and Loony Tunes characters.

"Space Jam: A New Legacy" is expected to be released in theaters on July 16, 2021.

LeBron got into a bizarre feud with Nick Saban over the rights to air a show that involves people talking about current events in a barbershop.

He and Arnold Schwarzenegger are part of a group that invested in Georgetown Company and Bill Ackman's office building in Hell's Kitchen.

Despite persistent rumors that LeBron owns a stake in Klutch Sports Agency with his longtime friend, Rich Paul, the NBA says that is not the case.

Source: NBC Sports

He also helped design a $51,000 watch.

Source: Forbes

All that savvy has allowed him to buy some sweet toys. Dwyane Wade and he have matching Porsches. It's unclear who has which color.

He also owns a Rolls-Royce Phantom with TVs in the seats.

Source: Instagram

And he bought his mom a Porsche for her birthday.

Source: Instagram

And a Ferrari Testarossa for his wife.

Source: Instagram

But he insists that he drives a Kia, even to work. But to be fair, his custom K900 luxury sedan is not your typical Kia.

Even the wheels have his personal logo.

But he does own a Ferrari.

Source: CheatSheet

LeBron also has a much bigger vehicle with customized headrests and a big-screen TV on which he likes to watch Tom & Jerry.

When he joined the Miami Heat, he bought a $9 million home in Coconut Grove. He sold it for a $4 million profit.

He also owns a 30,000-square-foot compound in his hometown of Akron, Ohio. In the past, he's hosted Thanksgiving there for his entire team.

Source: Instagram

And in 2017 he purchased a $23 million mansion in Los Angeles that has 10 bedrooms and an onyx bar.

Despite all the spending, Dwyane Wade once called James "the cheapest guy in the NBA." LeBron said that was "so, so, so, so falsely true."

James won't even use his phone if it is not on wifi: "No, I'm not doing that. I'm not turning on data roaming, I'm not buying no apps, I still got Pandora with commercials."

When Pandora heard that, they offered LeBron a free premium account.

But LeBron isn't cheap when it comes to keeping himself in proper basketball shape, as he reportedly spends more than $1.5 million per year just to take care of his body.

One of the ways he splurges on his own body is by using a controversial cryotherapy chamber, which exposes the body to temperatures of -150 to -290 degrees Fahrenheit, to relieve pain and enhance muscle recovery. He was one of the first NBA players to use one.

He also employs a former Navy SEAL who serves as his biomechanist, a recovery coach, personal chefs, and masseuses. And he apparently works out with Mark Wahlberg.

Source: Instagram

LeBron has a full gym, an ice tub, and a hot tub.

Former teammate Mike Miller: "Where a lot of people don't do it, he puts a lot of money behind taking care of his body. A lot of people think it's a big expense, but that big expense has allowed him to make a lot more money for a long period of time."

Source: Bleacher Report

LeBron also uses one of the most exclusive tattoo artists in the country, Bang Bang Tattoos in New York City, which charges a minimum of $500 per hour. Keith "Bang Bang" McCurdy's other customers include Rihanna, Justin Bieber, and Katy Perry.

Source: Bang Bang, NPR

His lavish purchases aren't just for himself. He bought his wife Savannah Brinson an engagement ring reportedly worth $300,000.

Source: Hollywood Life; Instagram

He also helped arrange to get former Knicks head coach David Fizdale into a Samsung commercial as a wedding gift after the then-Heat assistant told LeBron not to get him anything. Fizdale even got paid, calling it "a nice little check for an assistant coach."

LeBron and Savannah are high-school sweethearts, and they have three kids together.

Source: Instagram

Their wedding was a three-day party in San Diego.

Source: Instagram

They went to Italy for their honeymoon.

Source: Instagram

And later traveled to Greece.

Source: Instagram

LeBron Jr., better known as Bronny, is turning into quite the ballplayer himself.

If LeBron Sr. decides to play for a few more years, there is a chance the two could someday play in the NBA together.

Savannah opened a juice bar in Miami when James was still with the Heat.

LeBron has become a bit of a fashion icon.

Well, most of the time. The other times he wears Christmas pajamas that are too small.

Source: Instagram

The only time we really see him let loose is when he wins something...

... like when he wore this awesome fang shirt at a nightclub after the Heat won the title in 2012...

... or when he ate pizza onstage with Drake after winning it all one year later.

Even superstars need to relax from time to time.

Source: Instagram

And like many in the NBA, LeBron has become a big fan of the vino.

Source: Instagram

He's also been known to take costume parties seriously. He once made a cameo as Prince and did a decent "Purple Rain" lip sync.

But in general he keeps himself out of the gossip pages. He even rode his bike to a game when he played in Miami.

Source: Twitter

When James returned to the Cavs he held off on a signing a long-term extension, because of the pending salary-cap explosion. The move made him millions in the long run.

He made millions more upon signing with the Lakers in 2018.

But LeBron has employed his wealth and business savvy for causes bigger than just himself and his loved ones.

In 2018, James opened the I Promise School, a fully-funded public elementary school in his hometown of Akron, Ohio, that primarily serves at-risk children.

And he's poured his efforts into "More Than a Vote," a campaign that encourages voting in the United States.

Source: More Than a Vote

The organization even has merchandise, which James rocked before a 2020 playoff game.

Source: Instagram

Now check out the house Michael Jordan is struggling to sell:

Here is Michael Jordan's 56,000-square foot house in Chicago and why it is still on the market after 6 years

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LeBron James is one of the most accomplished players in NBA history.

He's also one of the wealthiest.

LeBron has made $310.1 million in career NBA salary, good enough for third-most all-time.

He recently joined Kobe Bryant and Kevin Garnett as the NBA's only $300 million players.

But in addition to his NBA salary, LeBron also makes roughly $60 million per year off the court in endorsements.

His estimated $88.2 million in total annual earnings is fifth among all athletes, trailing only Roger Federer, Cristiano Ronaldo, Lionel Messi, and Neymar.

In 2016, it was estimated that James had a net worth of $275 million and growing.

His endorsements include Beats, Intel, Sprite (Coca-Cola), and Kia.

He also has a monster deal with Nike.

The company signed him to a seven-year, $93 million deal right out of high school.

And in December 2015, Nike signed him to a lifetime deal that will go far beyond the standard shoe endorsement and is expected to be worth $1 billion.

James used to have an endorsement deal with McDonald's, but he gave up $15 million in choosing not to renew it in 2017.

Instead, he became a spokesman for Blaze Pizza, a company where he was a founding investor.

Economists have estimated he was worth as much as $500 million to the city of Cleveland.

So when he left the Cavaliers to join the Los Angeles Lakers in the summer of 2018, it was a huge blow to The Forest City.

He's also quite the businessman himself.

He owns a piece of Liverpool FC, the esteemed English Premier League club.

LeBron bought a 2% stake in the team for about $6.5 million.

His share is now worth about $32 million.

Warren Buffett said of LeBron, "He's savvy. He's smart about financial matters. It's amazing to me the maturity he exhibits."

In 2015, LeBron's media venture, Uninterrupted, got $16 million from Warner Bros.

The most anticipated project that is expected to come from the partnership is "Space Jam 2," a sequel to the popular basketball movie that starred Michael Jordan and Loony Tunes characters.

"Space Jam: A New Legacy" is expected to be released in theaters on July 16, 2021.

LeBron got into a bizarre feud with Nick Saban over the rights to air a show that involves people talking about current events in a barbershop.

He and Arnold Schwarzenegger are part of a group that invested in Georgetown Company and Bill Ackman's office building in Hell's Kitchen.

Despite persistent rumors that LeBron owns a stake in Klutch Sports Agency with his longtime friend, Rich Paul, the NBA says that is not the case.

He also helped design a $51,000 watch.

All that savvy has allowed him to buy some sweet toys. Dwyane Wade and he have matching Porsches. It's unclear who has which color.

He also owns a Rolls-Royce Phantom with TVs in the seats.

And he bought his mom a Porsche for her birthday.

And a Ferrari Testarossa for his wife.

But he insists that he drives a Kia, even to work. But to be fair, his custom K900 luxury sedan is not your typical Kia.

Even the wheels have his personal logo.

But he does own a Ferrari.

LeBron also has a much bigger vehicle with customized headrests and a big-screen TV on which he likes to watch Tom & Jerry.

When he joined the Miami Heat, he bought a $9 million home in Coconut Grove. He sold it for a $4 million profit.

He also owns a 30,000-square-foot compound in his hometown of Akron, Ohio. In the past, he's hosted Thanksgiving there for his entire team.

And in 2017 he purchased a $23 million mansion in Los Angeles that has 10 bedrooms and an onyx bar.

Despite all the spending, Dwyane Wade once called James "the cheapest guy in the NBA." LeBron said that was "so, so, so, so falsely true."

James won't even use his phone if it is not on wifi: "No, I'm not doing that. I'm not turning on data roaming, I'm not buying no apps, I still got Pandora with commercials."

When Pandora heard that, they offered LeBron a free premium account.

But LeBron isn't cheap when it comes to keeping himself in proper basketball shape, as he reportedly spends more than $1.5 million per year just to take care of his body.

One of the ways he splurges on his own body is by using a controversial cryotherapy chamber, which exposes the body to temperatures of -150 to -290 degrees Fahrenheit, to relieve pain and enhance muscle recovery. He was one of the first NBA players to use one.

He also employs a former Navy SEAL who serves as his biomechanist, a recovery coach, personal chefs, and masseuses. And he apparently works out with Mark Wahlberg.

LeBron has a full gym, an ice tub, and a hot tub.

Former teammate Mike Miller: "Where a lot of people don't do it, he puts a lot of money behind taking care of his body. A lot of people think it's a big expense, but that big expense has allowed him to make a lot more money for a long period of time."

LeBron also uses one of the most exclusive tattoo artists in the country, Bang Bang Tattoos in New York City, which charges a minimum of $500 per hour. Keith "Bang Bang" McCurdy's other customers include Rihanna, Justin Bieber, and Katy Perry.

His lavish purchases aren't just for himself. He bought his wife Savannah Brinson an engagement ring reportedly worth $300,000.

He also helped arrange to get former Knicks head coach David Fizdale into a Samsung commercial as a wedding gift after the then-Heat assistant told LeBron not to get him anything. Fizdale even got paid, calling it "a nice little check for an assistant coach."

LeBron and Savannah are high-school sweethearts, and they have three kids together.

Their wedding was a three-day party in San Diego.

They went to Italy for their honeymoon.

And later traveled to Greece.

LeBron Jr., better known as Bronny, is turning into quite the ballplayer himself.

If LeBron Sr. decides to play for a few more years, there is a chance the two could someday play in the NBA together.

Savannah opened a juice bar in Miami when James was still with the Heat.

LeBron has become a bit of a fashion icon.

Well, most of the time. The other times he wears Christmas pajamas that are too small.

The only time we really see him let loose is when he wins something...

... like when he wore this awesome fang shirt at a nightclub after the Heat won the title in 2012...

... or when he ate pizza onstage with Drake after winning it all one year later.

Even superstars need to relax from time to time.

And like many in the NBA, LeBron has become a big fan of the vino.

He's also been known to take costume parties seriously. He once made a cameo as Prince and did a decent "Purple Rain" lip sync.

But in general he keeps himself out of the gossip pages. He even rode his bike to a game when he played in Miami.

When James returned to the Cavs he held off on a signing a long-term extension, because of the pending salary-cap explosion. The move made him millions in the long run.

He made millions more upon signing with the Lakers in 2018.

But LeBron has employed his wealth and business savvy for causes bigger than just himself and his loved ones.

In 2018, James opened the I Promise School, a fully-funded public elementary school in his hometown of Akron, Ohio, that primarily serves at-risk children.

And he's poured his efforts into "More Than a Vote," a campaign that encourages voting in the United States.

The organization even has merchandise, which James rocked before a 2020 playoff game.

Now check out the house Michael Jordan is struggling to sell:

Here is Michael Jordan's 56,000-square foot house in Chicago and why it is still on the market after 6 years

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