Jimmy Buffett, LeBron James, Tom Ford, and Tiger Woods are all officially billionaires

• Jimmy Buffett, LeBron James, Tom Ford, and Tiger Woods joined Forbes' annual billionaires list this year.
• The "Margaritaville" singer is on the lower end of the world's richest list with a $1 billion fortune.

LeBron James, Tom Ford, and Jimmy Buffett are all officially billionaires, joining the group of 150 newcomers to Forbes' annual list of the world's richest on Tuesday.

James, a 19-time All-Star and basketball legend, is expected to make more than $124 million in 2023 from salary, endorsements from Nike and Pepsi, and assorted other business ventures. He is the first active NBA player to make the list, with a net worth of $1 billion.

James is also the league's highest-paid active player to date, bringing in $385 million from the Miami Heat, Cleveland Cavaliers, and Los Angeles Lakers. After soccer star Lionel Messi, James is seated as the highest-earning athlete in the world.

Buffett, known for his deep library of musical hits and restaurant endeavors, amassed wealth over the years from his "Margaritaville" empire, which turned into a licensing company that brought in more than $2 billion in sales last year. Inspired by his platinum song decades ago, Buffett started his branding business with a t-shirt shop in Key West and later expanded into restaurants, hotels, casinos, books, and a slew of other ventures under the brand.

Ford is joining the world's wealthiest after signing a $2.8 billion deal to sell his fashion brand to Estée Lauder in November. The 61-year-old icon is worth approximately $1.2 billion, per the publication's estimates.

Other notable newly-labelled billionaires include Tiger Woods. The pro golfer has a net worth of $1.1 billion from sports earnings and various brand deals.