Early Years
LeBron James was born in Akron, Ohio on December 30, 1984. LeBron’s mother got him a little hoop and basketball when he was a baby, which he played with for hours. Basketball quickly became LeBron’s life, and when he was old enough to play for his primary school, he excelled right away. LeBron James attended St Vincent-St Mary High School, whereas a sophomore, he was named to the USA Today All-USA first team for the first time. He was voted the Gatorade National Player of the Year in his junior year. Around this time, he began to be referred to as “King James.” Even while still in high school, James began to appear on the covers of “SLAM” magazine and Sports Illustrated. Everyone knew LeBron James was destined to be an NBA superstar.
Net Worth
LeBron James is a $500 million dollar American professional basketball player and entrepreneur.
Annual Salary
LeBron James receives around $40 million in compensation from the NBA each year, with an additional $55 million in endorsements. This brings his annual earnings to almost $100 million. LeBron made $86 million between June 2016 and June 2017. LeBron made $85.5 million between June 2017 and June 2018. He made another $85 million between June 2018 and June 2019.
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Earnings Potential
LeBron James made slightly over $126 million in salary over his first ten seasons in the NBA. LeBron made an estimated $326 million in endorsements during the same time period. That’s $452 million in his first ten years as a pro. With the Lakers, LeBron inked a two-year, $85 million deal extension. LeBron will have made $428 million in NBA pay by the time his contract expires in 2023.
LeBron has earned slightly more than $700 million from contracts and endorsements during his career as of this writing (before taxes and expenses).
Endorsement Agreements
McDonald, Microsoft, State Farm, Beats by Dre, Coca-Cola, Dunkin-Donuts, Baskin-Robbins, Samsung, Nike, and others have signed sponsorship deals with LeBron. LeBron James not only endorsed Beats by Dre, but he also owned 1% of the firm. During his time as a spokesman, he received $1 million in royalty payments. LeBron received $30 million when the company was sold to Apple for $3 billion.
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Deal with Nike
At the age of 18, LeBron signed his first Nike endorsement agreement. The agreement paid $90 million over seven years at a rate of $12.8 million per year. Reebok offered him $115 million to sign with them.
LeBron currently makes $20 million per year from Nike in salary and royalties for his signature shoe line.
LeBron signed a lifetime endorsement agreement with Nike in December 2015, which could be worth more than $1 billion. It’s the first lifetime deal Nike has ever provided, and it’s also the company’s largest offering ever.
Contracts
As most people know, LeBron bypassed college and entered the NBA draft as the first pick of his local team, the Cleveland Cavaliers, in 2003. His first contract was worth $18.8 million over the course of four years.
Before the 2007-2008 season, he agreed to a three-year $60 million agreement with the Cavs, which increased his annual compensation from $5.8 million to $13 million, $14.4 million, and finally $15.8 million for the 2009-2010 season. LeBron James famously revealed his plan to leave Cleveland for Miami with a televised special called “The Decision” prior to the 2011 season.
While he would be mocked for years for the pompous televised special, “The Decision” raised approximately $6 million for charity. LeBron chose a lower-than-market rate of $110 million over six years when he went to Miami.
He did this because he (correctly) projected that he, along with Chris Bosh and Dwyane Wade, could win an NBA Championship in Miami. He actually earned $1.2 million LESS in his first season with the Heat than he did in Miami.
LeBron James returns to Cleveland prior to the 2014-2015 season after four seasons with the Miami Heat. LeBron signed 1-year contracts to maximize his earnings potential each season as the NBA salary cap grew during his time in Cleveland.
LeBron signed a three-year, $100 million contract with the Cavs in 2016, coming off winning the NBA championship. He made $23 million in his first year. He earned $30.963 million in his second season, making him the league’s highest-paid player for the first time in his career. He earned a league-leading $33.285 million in the third year of his contract.
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LeBron James signed a four-year, $153 million deal with the Lakers ahead of the 2018-2019 season, with an average annual salary of $38 million.
LeBron James and the Los Angeles Lakers agreed to a two-year, $85 million contract deal in November 2020, which will keep him with the organization until 2023. This equates to a base NBA salary of $42.5 million per year.
