LeBron James Becomes NBA’s First Billionaire Player

LeBron James was first drafted into the NBA in 2003, the 38 year old American basketball superstar is now entering his 21st NBA season making him the oldest NBA player. “ King James” as he is aptly nicknamed is regarded as one of the greatest players in NBA history and comparable only to Michael Jordan.

LeBron’s agent Rich Paul was listed at fourth on Forbes list of the “World’s Most Powerful Sports Agents”. After LeBron’s draft in 2003, Paul and some of his childhood friends  joined James as a part of a small inner circle. They found success in NBA and throughout their careers, the two have made a lot of money in their years together.

“James is the first active NBA player to become a billionaire, with Forbes estimating his net worth at $1 billion in June 2022, he has raked in upwards of $900 million (pretax) off the court, according to Forbes estimates from business ventures and endorsement deals with the likes of PepsiCo, Walmart and Nike,” said a Forbes report.

“You can’t be afraid to fail. It’s the only way you succeed. You’re not gonna succeed all the time and I know that,” said James in media reports.

In 2012, Paul founded Klutch Sports, a sports agency which has represented other notable NBA players like Ben Simmons, Anthony Davis, Lonzo Ball and Eric Bledsoe among others. 

“What I always focused on was how to educate the athlete. It’s one thing to be a Black man in America, right? It’s a totally different thing to be a Black athlete,” said Paul in media reports. Paul and others at Klutch said that they see their job not only as making money for players but also as teaching them how to spend it.

Paul’s life story is literally a rags to riches embodiment.

Edited by Virginia Van Zandt and Newsdesk Manager