Jimmy Buffett, LeBron James, Tom Ford, and Tiger Woods are all officially billionaires

• Jimmy Buffett, LeBron James, Tom Ford, and Tiger Woods joined Forbes' annual billionaires list this year.
• The "Margaritaville" singer is on the lower end of the world's richest list with a $1 billion fortune. 
• Ford made it after selling his fashion brand to Estée Lauder for $2.8 billion in November. 

LeBron James, Tom Ford, and Jimmy Buffett are all officially billionaires, joining the group of 150 newcomers to Forbes' annual list of the world's richest on Tuesday. 

James, a 19-time All-Star and basketball legend, is expected to make more than $124 million in 2023 from salary, endorsements from Nike and Pepsi, and assorted other business ventures. He is the first active NBA player to make the list, with a net worth of $1 billion.

James is also the league's highest-paid active player to date, bringing in $385 million from the Miami Heat, Cleveland Cavaliers, and Los Angeles Lakers. After soccer star Lionel Messi, James is seated as the highest-earning athlete in the world.

Buffett, known for his deep library of musical hits and restaurant endeavors, amassed wealth over the years from his "Margaritaville" empire, which turned into a licensing company that brought in more than $2 billion in sales last year. Inspired by his platinum song decades ago, Buffett started his branding business with a t-shirt shop in Key West and later expanded into restaurants, hotels, casinos, books, and a slew of other ventures under the brand. 

Ford is joining the world's wealthiest after signing a $2.8 billion deal to sell his fashion brand to Estée Lauder in November. The 61-year-old icon is worth approximately $1.2 billion, per the publication's estimates. 

Other notable newly-labelled billionaires include Tiger Woods. The pro golfer has a net worth of $1.1 billion from sports earnings and various brand deals.