Los Angeles Lakers superstar LeBron James is a billionaire today, but he remains extremely cautious when it comes to money. James came from next to nothing, and during an appearance on his wife Savannah’s Everybody’s Crazy podcast, he spoke about his aversion to risk and shared the stern warning he had for his financial advisor.
“Coming from the projects in Akron, Ohio, and like not having s***, it’s hard for me sometimes to take risk,” James said. “Because if that s*** happened or the whole can come off and it’s over with, bro, I’mma be devastated.”
“I have a lot of friends that’s more risky and obviously some friends that are less risky,” James added. “But for me, when I’m talking to my business partners and s*** like that, financial advisers, accountants, all that type of s***. My financial adviser, the first thing I told him when he wanted to manage my money, I said ‘N***a, if you steal my money, bro, or if I’m broke, bro, I’m letting you know, bro, it ain’t going to be good for you.'”
We have heard so many stories about players being scammed by agents or financial advisors. Dwight Howard claimed his agent stole $7 million from him and destroyed his dream of owning a WNBA team in the process. If you think that’s a big amount, Charles Barkley claims his agent cheated him out of $100 million.
Barkley was broke and had to start over, a position James never wanted to find himself in.
“I swear to God, I really was like that,” James stated. “I’m really like that because I can’t start over. There’s no way. None of us sitting here can start over. I’m not Monopolying this. I’m not starting back at, ‘Pass go you collect $200 and start back at go,’ No, too far gone at this point.”
From all we know, it doesn’t appear as if James, who has a net worth of $1.3 billion as per Forbes, has ever been scammed. Being careful and sending out those warnings has worked out for him.
We often talk about James being an example to follow for young NBA players, and that applies both on and off the court. The 40-year-old has given everyone the blueprint, and while you are unlikely to be as successful as him, things won’t go south at least.
James is entering his 23rd season in the NBA and will have made $581 million in salaries by the end of the 2025-26 campaign. Many in his position wouldn’t hesitate when it comes to spending, but he does.
James once confirmed he is the cheapest player in the NBA. He won’t turn on data roaming and won’t pay for apps either. James also wildly joked about being broke, but it’s safe to say money is unlikely to ever be a problem for him or his family moving forward. He has ensured everyone closest to him will be well taken care of.
The only thing James would be worried about is finishing his career without winning another championship. The 21-time All-Star has won four NBA titles in his career but isn’t satisfied just yet.
