Biz-Wiz LeBron: A Glace At LeBron James Business Genius

He's been considered the Michael Jordan of the new generation of basketball by many in the sport, earning the famous title of King James in the process. His title as one of the greatest players of all time has given him a reputation that has placed him on platforms next to celebrities such as Bill Hader, Brie Larson, Amy Schumer, and Nas, and has been featured on shows like My Wife and Kids, The Simpsons, and Entourage. There is no doubt the legacy that he has already begun to leave behind, as he continues branching out into multiple areas of influence and business, such as movie production, sponsorships, talk show hosting, and multiple investments, including a sneaker deal with Nike. All this he has secured on top of an ultra-successful basketball career that, over the years, has grown his net worth to a monumental $850 million. Let's take a closer look at a few of the biggest and most lucrative investments made by Lebron James.

At just 37 years of age, 'King James' is much close to becoming a billionaire than most A-list celebrities with over three decades of acting. The Akron, Ohio-born baller had to overcome a rough upbringing being raised in a single-parent family with his mother, Gloria Marie James. After being introduced to basketball from the age of nine, he continued to excel in the sport through high school, where he began garnering a great deal of attention, and in his junior year, was featured on the cover of Slam basketball magazine as "the best high school basketball player in America right now."

Following his high-school achievements, he went on to begin his NBA career in 2003 with the Cleveland Cavaliers and then rose to superstardom the following year. Since then, he has continued to have an exceedingly successful career on the court right up until 2022, when he now plays for the Los Angeles Lakers. But as we know, Lebron's success has not been limited to the court. He's been ranked No. 5 on the list of the world's highest-paid athletes and No. 39 on the list of the world's richest entrepreneurs, according to Forbes.

Similar to other superstar athletes who used their fame and influence to their advantages, such as Shaquille O'Neal, Charles Barkley, and Michael Jordan, Lebron has done the same by lending his image to a variety of popular endorsements and sponsorships. According to CBS Sports, he has earned a $300 million basketball salary since he began playing professionally in 2003, in addition to $100 million annually through his endorsements with AT&T, Beats, Blaze Pizza, GMC, PepsiCo, Rimowa, and Walmart. Factor in the lifetime partnership deal he made with Nike in 2016 which bring in $30 million annually by itself and you can clearly see why he is a part of the top 50 richest entrepreneurs in the world. These companies are notorious for commercials and new-product promotions, so one can only imagine the amount of work Lebron has lined up for him.

RELATED: Air Jordan: A Peek Inside Michael Jordan's $61 Million Dollar Private Jet 

According to Afro Tech, the 'Space Jam: A New Legacy' star actor grew to like the entertainment industry so much that he decided to open a media company of his own called "Uninterrupted" with his business partner, Maverick Carter. Uninterrupted, or The Shop: Uninterrupted, was created in 2018 by Paul Rivera and is basically a platform designed for athletes to give commentary on their experiences in their field, as well as shed light on social and political issues. Filmed in a New Orleans barbershop, the show also featured Daymond Green from the Golden State Warriors, Jesse Williams from Grey's Anatomy, rapper Two Chainz, and successful entrepreneur and author, Steve Stoute. The show was released for a fifth season in February 2022 with plans of moving to Youtube.

Funny enough, the show was also produced by Springhill Entertainment production company, of which James is also the founder! That's the definition of making your investments work for you! The company was founded in 2020 by James and Maverick Carter and includes Serena Williams on its board of directors. Since its founding, Springhill has signed deals with ABC Signature and Universal Pictures, and its productions have appeared on a variety of platforms, such as Netflix, HBO, Disney+, Apple+, CBS, NBC, ABC, and ESPN. So far, a few of the projects produced by the company include Space Jam: A New Legacy, What's My Name: Muhammad Ali, and Hustle, starring Adam Sandler.

 

One of his greatest investment returns was a fast-food chain casual pizza franchise called Blaze Pizza that the NBA Champion invested $1 million in back in 2012. The owners of the pizza franchise, Rick and Elise Wetzel, both confirmed in a Mashed interview that Lebron's love for the food business had grown to a full-blown partnership in which he owns 20 franchises across the U.S. What began as a $1 million investment has since grown to over $40 million. James was so impressed with the company's brand that he even abandoned his partnership with Mcdonald's in 2015, a decision that has proved to be lucrative.

Another one of his major investments includes Fenway Sports Group, which he and his business partner, Maverick Carter, became the part-owner of in 2021. According to an article in CNBC, Lebron and his partner are the first two Black owners of the sports company, valued at $6 billion. The company directly owns the Boston Red Sox and the Liverpool F.C. soccer club. This move not only makes him a historical part-owner in the multi-billion company, but it also put him in line for owning a team of his own in the near future. It may be a long time before he catches up with Lionel Messi as the world's highest-paid athlete, but he's definitely not far off from being a billionaire!

READ NEXT: The 8 Most Philanthropic Ventures Of NBA Star Lebron James

Sources: CNBC, Mashed, Afro Tech, Forbes, CBS Sports

from TheRichest - Feed https://ift.tt/j9YNITa