Los Angeles Lakers Rumors
James already reached a financial milestone this year when he surpassed $1 billion in career earnings before taxes and agents’ fees, pushing his net worth to roughly $850 million, according to Forbes estimates. He continued his march toward billionaire status this week when his media and entertainment business, the SpringHill Company, announced the sale of a minority stake at a valuation of about $725 million.
James is not expected to pocket much cash from the deal, instead reinvesting the bulk of the proceeds into the business, a source close to the transaction tells Forbes. James and his business partner Maverick Carter will retain a controlling interest in the company, which has a TV deal with ABC Studios and a first-look film agreement with Universal Pictures.