Here’s Why LeBron Can Afford To Take A Pay Cut To Join The 76ers

LeBron James on Friday signed a two-year, $8 million contract with the Philadelphia 76ers to extend his historically long NBA career, a sizable pay cut for James, whose earnings and investments on and off the court have cemented his billionaire status for years. James signed an $8 million deal with a player option, allowing him to extend his contract for an additional season at a set salary or become an unrestricted free agent, NBA insider Shams Charania reported, marking a 92% pay cut from his $52.6 million salary the previous season. Forbes named James—whose net worth is valued at $1.4 billion as of Friday—a billionaire in 2022, making him the first athlete to reach billionaire status while still active in their sport, and he is one of four active billionaire athletes, joining Cristiano Ronaldo, Lionel Messi and Tiger Woods. By Ty Roush, Forbes Staff Learn more about your ad choices. Visit megaphone.fm/adchoices