According to Forbes, James officially became a billionaire this year. The outlet said James had received more than $385 million from his 19-year professional basketball career and more than $900 million from endorsements and other business ventures.
The NBA star’s other endeavors include starring in and producing 2021’s Space Jam: A New Legacy, which earned $162.9 million at the worldwide box office, Forbes said.
James previously hinted at wanting to own a team in the league during an interview in March 2021 with the Los Angeles Times, stating, “I got so much to give to the game. I know what it takes to win at this level. I know talent.”
Never miss a story — sign up for PEOPLE’s free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories.
While NBA commissioner Adam Silver recently shut down rumors of adding more teams to the league in the near future, he said it might happen “at some point,” according to Sports Illustrated.
That down-the-road timeframe might be perfect for James, however. He has previously expressed his desire to remain in the NBA to play with his son, Bronny, who can enter the draft in 2024.
“Wherever Bronny is at, that’s where I’ll be,” James explained. “I would do whatever it takes to play with my son for one year. It’s not about the money at that point.”