“Building Legacy.. One Drink at a Time”: Billionaire LeBron James Enjoys Success of His $100 Million Rich Venture Backed by Arnold Schwarzenegger

The inherent risk-taking ability of top athletes in any field of sports never fades away in their lives. LeBron James is undoubtedly an example of that, as he has already started to venture into precarious territories. The billionaire recently celebrated his $100 million project’s success with Arnold Schwarzenegger’s support.

Reaching the twilight of his playing career, LeBron must be thinking about preserving his legacy and creating more wealth. This venture might just help him do that because of its overall potency.

Which venture did LeBron James invest in?

Nearly three years back, the 38-year-old invested in the Lobos 1707 tequila brand as an individual angel investor. Since then, the business has grown by leaps and bounds as it has now reached a valuation of $100 million. Recently, the contributors celebrated the success and the rise of the brand through an interactive event.

A video of that public event was later posted with the caption, “Building legacy and growing community one drink at a time”. The Los Angeles Lakers icon also soon took part despite his absence from the public event. James joined the celebrations, as he shared the clip from his Instagram story, showcasing the support.

Founded in 2020, the tequila and mezcal company gained popularity with the backing of various celebrities. It has a taste of Hollywood in it as Arnold bought a minority stake in the start-up. LeBron himself invested in the Lobos 1707 three years back, before his wife Savannah did the same, just two months back.

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With the backing of the James household and the likes of Draymond Green and Schwarzenegger, the brand is bound to be on the up. Despite being at the nascent stage, the company faces a few challenges as it attempts to generate more revenue.

What are the obstacles for LeBron’s company?

With numerous celebrities entering the field of beverage business, the competition to acquire market share is immense. The 4-time champion in particular faces challenges from within the NBA.

James Harden and Michael Jordan have their own line of beverages that LeBron needs to go up against. Lobos 1707 has done their business neatly till now, but growing from here would require a lot more focus and commitment.

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James knew the obstacles before he put his money into the company. So, he is set to stick around and see through the tests that come to the team. That’s pretty much all he has done throughout his career. This around, no exception would be made.