The good news for LeBron James and the companies he owns is that he’s now officially a billionaire. The bad news for Los Angeles Lakers fans is that LeBron James is now a billionaire.
Yes, it’s safe to call “King James” a media mogul, thanks to The SpringHill Company, the media, and entertainment company he owns. It was announced that they are selling a big chunk of minority equity to an A-list group of investors, including RedBird Capital Partners, Fenway Sports Group, Nike, and Epic Games. All of the new partners are already involved in other deals with LeBron.
The company is valued at $725 million, so when you add up LeBron’s stake in that, his other ventures, career earnings in hoops, and endorsements, he’s officially in the nine-figure club.
The thing that sucks for Lakers fans is LeBron has a much better supporting cast in his business world than he does on the floor. Maverick Carter is much more reliable than Anthony Davis, the perpetually injured and uni-inspired under-achiever whom Laker fans would love to see traded yesterday.
Carter is the big thinking visionary at LeBron’s side. Here’s part of a statement after the big news this week.
“We started this company with the tagline ‘More Than an Athlete,’ which still defines everything we do to this very day,”
LeBron has been making money since he was a teenager. He’s been on the Forbes list of highest-paid athletes every year since 2004.
The SpringHill deal is what pushed James over the billion-dollar mountain. Prior to it, he was worth about $850 million.
King James still has something to shoot for. Michael Jordan has more titles, more money, and owns an NBA team. But LeBron is without a doubt on his heels and will have something next season MJ doesn’t; more points. He’s set to become the NBA’s all-time leading scorer next season.