The NBA MVP gets a salary raise for every MVP award he receives.
Considering that their are only 4 given out for the entire season (Rookie Challenge MVP, All-Star Game MVP, NBA MVP [for the season], and the NBA Finals MVP), the most prestigious would easily be the NBA MVP award.
The 1987 NBA finals MVP award went to Earvin "Magic" Johnson of the Los Angeles Lakers. It was his third MVP award, having won the first two in 1980 and 1982.
At the end of the NBA's regular season.
Bob Petit of St.Louis Hawks was the first M.V.P in N.B.A history
The MVP award is given in early May. Lebron James received the award like on the 3rd.
Kobe Bryant won the MVP award in the 2007-08 NBA season
NBA Finals MVP
Hakeem Olajuwon - 1994