LeBron James continues to make history as one of the richest athletes of all-time. A little over two months after Forbes reported that James' net worth reached $1 billion, the 37-year-old has signed a contract extension to become the NBA's highest earner ever.

Kevin Durant took the No. 1 spot last year when his four-year extension with the Brooklyn Nets gave him more than $498 million in past and future guaranteed earnings. James has made $387.3 million in salary through his career, according to Spotrac. The new deal with the Los Angeles Lakers guarantees James $532 million in contracts, ESPN's Adrian Wojnarowski reports.

James' $387.3 million in career earnings ranks first when not including future earnings. Kevin Garnett is second all-time, having made $334.3 million in his NBA career.

James is due a $44.47 million salary for the 2022-23 season. His two-year extension starts next year and is worth $97.1 million. The extension could be worth up to $111 million if the NBA's salary cap goes up in the 2023-24 season, according to ESPN.

Next season, James will make more than $40 million for the second time in his NBA career. In every season from 2016 to 2020, James had a salary of at least $30 million.

The Cleveland Cavaliers selected James with the No. 1 overall pick in the 2003 NBA Draft. It took James six seasons to accumulate as much money as he'll make with the Lakers in the 2022-23 season.

Soccer star Lionel Messi is the only professional athlete who made more money than James from May 2021 to May 2022, according to Forbes. It's estimated that James raked in $121.2 million during that 12-month span. Only one-third of that income was James' salary with the Lakers.

No other NBA player has been active while joining the billionaire club. Michael Jordan's net worth reached 10 figures in retirement.

James has amassed a large fortune through business ventures and endorsements. Forbes has valued James' SpringHill Entertainment at roughly $300 million.

Along with his lifetime contract with sports apparel brand Nike, James receives revenue from a $90 million stake in Fenway Sports Group— owners of soccer club Liverpool, the Boston Red Sox and the Pittsburgh Penguins — as well as $80 million from real estate properties and $30 million from an investment in the Blaze Pizza franchise, Entrepreneur noted.

Cast member LeBron James attends a premiere for the film "Hustle" in Los Angeles, California, U.S., June 1, 2022.
Cast member LeBron James attends a premiere for the film "Hustle" in Los Angeles, California, U.S., June 1, 2022. Reuters / MARIO ANZUONI