Back in 2002, LeBron James was still in Ohio State High School, months away from joining the NBA. As it turned out, despite not being of means, James was seen driving a $70,000 Hummer in his senior year. The car brought forth an investigation from his school, which determined that it was in truth a gift from his mother. With LeBron set to become a millionaire soon, a bank had been eager to give Gloria James a $50,000 loan, according to Brian Windhorst’s LeBron James Inc.
Still only 18, James had not earned the fortune that he knew he was going to have, soon enough. This meant that it was his mother, who had to buy the Hummer for him. Of course, LeBron eventually announced for the 2003 NBA draft, and the rest has been history, and in some ways a part of the present.
LeBron James’ Hummer gift from mother was investigated by his high school
The Ohio State University effectively thought that the car might be a gift from an agent, or a team trying to sign LeBron. Any gifts of a value of over $100 were considered a bribe by the Ohio High School Athletic Association.
However, as it turned out, the car was in truth a gift from LeBron’s mother. While the family was not rich, James was already a lock to at least be a millionaire. This meant that one bank was willing to give Gloria James a %50k loan, according to LeBron James Inc.:
“Earlier the governing body had to perform an investigation as to how LeBron was able to get a brand-new Hummer H2 vehicle that was customized and likely cost more than $70,000. It was quickly discovered that a bank was eager to give Gloria James a fully legitimate loan for the car. Considering her son was a virtual lock to become a millionaire in a matter of months and would need a place to deposit the checks, the institution saw her as a safe risk. The bankers had more perspective and understanding than the school administrators did. But let’s move on.”
The bank effectively thought that once James became a millionaire, he would choose them, considering they helped the 18-year-old get his first luxury car. Whether that worked out for the institution remains unknown.
James’ Hummer gift from mother sparked huge controversy
LeBron James’ and the expectations surrounding his career meant every move of his was looked at with scrutiny. While this lifted the James family out of poverty almost single-handedly, it also had a range of negative consequences.
The car that LeBron’s mother bought had a range of customizations that were estimated to have cost around $20k. This led to a full-blown investigation into the matter, at the end of which it was determined the car was merely a gift from his mother.
James was eventually suspended from high school after a couple of retro jerseys he received were considered to be over the $100 limit. While the ban was eventually overturned, there is little doubt that LeBron was already a superstar, long before he made it to the NBA.
