LeBron James captured global attention with an announcement teased as “The decision of all decisions,” sparking rumors about potential retirement.

Instead, the reveal was a marketing campaign tied to a luxury cognac brand, Hennessy, leaving millions feeling misled. For a player with a social media following in the hundreds of millions, the stunt sparked frustration among fans and analysts alike.

This episode reopened discussions about LeBron’s reputation for being exceptionally tight with money: a trait he has openly acknowledged since childhood.

A Lifelong Habit

LeBron’s careful money management traces back to his upbringing in a modest family setting, where relatives instilled in him the habit of saving.

He candidly described this mentality in past interviews, recalling how relatives taught him to spend only part of any money given and save the rest. James views preserving his wealth as “sacred” and admits to maintaining a conservative financial mindset.

Stories shared by former teammates like Kevin Love and Dwyane Wade illustrate this side of LeBron: from avoiding mobile data roaming charges on road trips to refusing to pay for music streaming services, all underscoring his tight grip on expenses despite his billionaire status.

Billionaire Status Meets Down-to-Earth Habits

LeBron’s extreme thriftiness contrasts with his staggering fortune, which Forbes estimated at $1.3 billion, making him the first active NBA player to join the billionaire ranks.

Despite this, LeBron dismisses the internet’s portrayal of his wealth as exaggerated, joking that he has little cash and that his children control the family finances. This humorous denial highlights the gap between public perception and the private nuances of James’ financial life.

The recent deal, while lucrative, may simply be another chapter in his ongoing strategy of maximizing earnings without loosening his money-minded approach.