LeBron James has long expressed his desire to secure his billionaire status by buying an NBA franchise.

But, for the time being, the 39-year-old remains one of the league’s top players, earning a record-breaking sum on the court.

James has agreed to a two-year, $104 million contract with the Los Angeles Lakers, according to a person familiar with the situation. That is the highest ever for someone his age, putting his net worth at about $1.5 billion, including this season’s compensation, according to the Bloomberg Billionaires Index.

The contract validates James’ long-held desire to play alongside his son Bronny James Jr., 19, who was picked by the Lakers last week and allegedly agreed to a four-year, $7.9 million contract.

The senior James, who is entering his 22nd season in the NBA, holds the league’s all-time scoring record and averaged 25.7 points per game last season, ranking him among the top 15 players in the league.

He is the wealthiest contemporary player, having been dubbed “King James” after his spectacular high school career prompted the Cleveland Cavaliers to select him with the first choice in the 2003 NBA draft. Another NBA legend, Michael Jordan, is worth more than $4 billion after selling his ownership in the Charlotte Hornets last year.

James’ wealth is comprised of his NBA salary, sponsorships, investments, and his own consumer and entertainment company, SpringHill Co.

SpringHill was worth approximately $725 million in 2021 after James and business partner Maverick Carter sold a minority ownership to a group of investors, including Nike. He has a sponsorship arrangement with the shoemaker that is estimated to generate $1 billion over his lifetime, and he received more than $100 million from the sale of Beats Electronics to Apple in 2014.

He also has a diverse portfolio of investments, including a 1% ownership in Fenway Sports Group, which owns the Boston Red Sox, Pittsburgh Penguins, and Liverpool Football Club.