LeBron James is officially a billionaire—this is the first money lesson he says he learned as a kid

According to Forbes, the basketball player has become a millionaire. James is the first active NBA player to reach the milestone and the second NBA player to reach billionaire status.

The NBA's highest-paid player is James, a small forward for the Los Angeles Lakers. He was the second highest-paid athlete on the 10 highest-paid athletes list.

Overall, James has made $387 million from the Cleveland Cavaliers, Miami Heat, and Los Angeles Lakers, and raked in another $900 million from other ventures and endorsements.

As his mother struggled to make ends meet, James had a hard childhood. Thanks to a money lesson from his uncle, James made sure to put some of his money into a savings account.

James said that his uncle taught him how to have a savings account. They would give me a dollar and tell me toSpend 35 cents and keep the other 65. They would say, "Go ahead and spend a dollar of it, but keep the other dollar."

James was recruited by St.Vincent-St. He scored over 2,500 points in four years at Mary High.

James was the number one pick in the NBA draft. His NBA debut was described as one of the most impressive in league history, as he scored 25 points. James was a four-time NBA Most Valuable Player, four-time NBA champion, and three-time Olympian.

The I PROMISE School was opened by the Lebron James Family Foundation. Students who are at risk of falling through the cracks will be helped.

James wants to one day own an NBA team after becoming a part-owner of the Boston Red Socks.

I have a lot to give. I have experience winning at this level. James said that he knows talent. I also know how to operate a business. That is what I want. My goal is to own an NBA team one day.

James doesn't plan on slowing down any time soon and he has a lot of life left in him. He hopes to sign a two-year contract extension with the Lakers that will make him the highest paid player in the NBA.

He said he could go on for a moment. It's up to me and my mind. I still drive.

You can check it out.

New grads should recognize failure as opportunity rather than defeat, according to the author.

According to Glassdoor, the 10 highest-rated companies are for people with sexual orientation.

Making the most of a job fair is important.

You can get smarter about your money and career by signing up for our weekly newsletter.