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Coco Gauff's Father Thinks Not LeBron James, But THIS Athlete is The First Self-Made Billionaire Olympian
The riches of the Olympics are in vogue. So, when someone claimed LeBron James to be the first self-made billionaire Olympian, Coco Gauff’s father differed! Here’s who he thinks deserves the accolade.
Firsts are always special. For the first time, 20-year-old Coco Gauff is competing in the Olympics, and it's a massive honor for her to be the youngest flag bearer for her country, especially alongside the legendary LeBron James.
This marks the fourth time the NBA legend has participated in the Olympics. Not only that, but ‘King James’ has also become the first self-made billionaire to compete in the Games. It's a perfect occasion for such a milestone. But Coco Gauff’s father had something to say.
Recently, an Instagram page posted a picture of James, stating, “LeBron James becomes the first self-made billionaire to compete in the Olympics." Coco’s father, Corey, commented on the post, reminding everyone, “Not true, Jess Pegula Tokyo.” He clarified that it actually happened in 2021 in Tokyo, Japan
Why did Corey Gauff mistake Jessica Pegula for the first self-made billionaire Olympian?
Well, it’s safe to say that Corey Gauff’s mistake isn’t completely baseless. Although Jessica Pegula isn't the first self-made billionaire olympian, she is often dubbed the "World's Richest Tennis Player" due to her billionaire parents. However, during Wimbledon in 2023, Pegula clarified her own wealth status, stating that she isn’t a billionaire, but her parents are.
As of March 2024, Yahoo! Life reported that Pegula has a net worth of $12 million. This confirms that LeBron James is still the first billionaire athlete to compete in the Olympics.
Just how rich is Jessica Pegula?
Jessica Pegula openly acknowledges her privileged upbringing, but she’s also one of the hardest-working players on the tour. She is the daughter of Terrence Pegula, who founded the oil and gas company East Resources in 1983 and has a net worth of $6.8 billion according to Forbes, and his second wife Kim Pegula.
Alongside her singles success, Pegula has formed a strong doubles partnership with Coco Gauff. Pegula had a challenging season in 2023 but enjoyed a breakthrough with a WTA 1000 title. The Pegulas are known in Buffalo for owning the Buffalo Bills NFL franchise and the Sabres NHL team.
Despite her wealthy lifestyle, Pegula spends much of her time on the practice court. Jessica Pegula enjoys classic cars, and, while she doesn’t own properties in her name, her family has homes across the United States. She married Taylor Gahagen, an executive in her family’s sports empire, in 2021 after dating for several years.
What is Jessica Pegula’s net worth?
With a successful tennis career, Pegula has an estimated net worth of $12 million. She has won 12 pro titles across singles, doubles, and mixed doubles and reached career-high WTA rankings of 3rd in singles (October 2022) and 1st in doubles (September 2023).
In 2016, Jessica Pegula opened a quick-serve restaurant with her sister called Healthy Scratch. The two started a food truck company the following year. Additionally, later in 2017, Jessica independently launched her skincare line called Ready 24. With renowned endorsements and deals from companies like Yonex and Adidas, Jessica Pegula is undoubtedly one of the richest tennis players ever.
READ MORE: Top 7 Highest Paid Athletes at 2024 Paris Olympics ft LeBron James
Despite Corey Gauff's claim, LeBron James is indeed the first self-made billionaire Olympian
Another first, which is indeed very special. For the first time in Olympic history, a billionaire is competing, and it's not Jessica Pegula; it’s LeBron James. James became a self-made billionaire in 2022 when his net worth reached $1 billion. The feat made him the first active NBA player to achieve this, according to Forbes. That same year, he became the highest-paid NBA player ever with a new contract extension with the Lakers.
The four-time champion and NBA All-Star signed a two-year, $97.1 million extension with the Los Angeles Lakers, making him the highest-earning player in NBA history, surpassing Kevin Durant and Stephen Curry, as noted by CNBC Make It.
Since joining the LA Lakers in 2018, James’s worth has exceeded $1 billion. Forbes highlights that his billionaire status is due to his strategic business deals, giving him equity in brands he partners with rather than just quick paychecks.
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