Last year, Forbes declared that LeBron James is a billionaire. He became the first active player to reach this humongous feat. He is the only other billionaire besides Michael Jordan. While it took Jordan over 11 years after his retirement to reach there, LBJ did it at a quicker pace. Of course, inflation has also increased valuation, which has played a huge role in making the riveting talent a billionaire. However, it doesn’t come without smart investments.

However, as per a former teammate, the Los Angeles Lakers forward invested in a venture and didn’t even know the huge payout!

Boisterous returns for LeBron James

King James’ current NBA contract pays him approximately $50 million annually. Soon, his earnings just from the contract will cross the $500 million mark. Apart from that, his shoe deal with Nike, which he signed way back in his rookie year, has opened up avenues to earn tens of millions per year. But what captures the imagination are the investments that he made way back when he was in his early 20s. 

In 2008, the incredible athlete became the brand ambassador for Beats by Dr. Dre. However, he eventually became a part owner of the brand. In 2014, Dr. Dre sold the rights of his venture to Apple for $3 billion, and James also made huge money. As per his former Cleveland Cavaliers teammate Kendrick Perkins, the Beats deal made him unfathomable money.

Perk during the Runnin’ Plays: A Golden State Warriors Podcast revealed, ”When Dr. Dre got the big contract for the Beats by Dre when they wrote him that check, LeBron James got $700 million off of it. He was a silent investor in the Beats and nobody knows this.”

Adjusting to inflation, the amount valuation of the $700 million in 2010  will amount to $979 million in the current time. While the payout details are yet to be confirmed and Bleacher Report tabbed James’ earnings at $30 million, the secrecy of the investment can attest to Perkins’ claims.

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What makes him a successful businessman?

James doesn’t seek a quick check and looks to find an equity opportunity. He seeks part ownership rather than chasing instant dollars. Therefore, his investments multiply in a few years and add to his net worth. This is one of the few secrets of becoming a billionaire. He doesn’t shy away from investing in different industries, such as movie and documentary production. 

He has part ownership of Liverpool FC, an investment that has given him over $100 million thus far and will only bring fruits. This is barely a brief snippet of the business empire that the legend has built. Perkins once remarked, “The crazy thing to me about LeBron James is that he is the chosen one in life”.

Indeed, the way he is building his empire, Perk’s words stand strong.

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