Soccer superstar Cristiano Ronaldo is the first player in his sport to become a billionaire, joining the ranks of the wealthiest athletes.

Catapulted by a contract with a Saudi Arabian team, the veteran Portuguese player, now 40, is the first soccer player to be worth 10 figures, Bloomberg reported.

Ronaldo recently signed a two-year contract with Riyadh-based Al-Nassr FC, a team that competes in the Saudi Pro League, which is reportedly worth more than $400 million, according to Bloomberg. Ronaldo does not have to pay taxes on his Saudi earnings.

The Bloomberg Billionaires Index pegs the champion athlete's net worth at $1.4 billion, marking the first time a soccer player has landed on the list. The outlet notes that his net worth accounts for his career earnings, plus investments and sponsorships.

Ronaldo, who is from Madeira, Portgual, dropped out of school at 14, to focus on soccer. He has lucrative endorsement deals with Nike, Armani, and Castrol, among others, according to his website.

He also owns a range of businesses, including his CR7 brand of underwear, footwear and fragrances. On Instagram, he has more than 665 million followers, making him a desirable brand partner.

Ronaldo's wealth is unique in that it's driven largely by his salary, as opposed to brand partnerships or other investments.

He outearns rival Lionel Messi, who makes $135 million, according to Forbes' list of the highest paid athletes in the world. Messi plays for Major League Soccer's Inter Miami, whose owners include David Beckham.

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