Steve Harvey once said that “LeBron is a genius as a businessman”. After all, no one gets listed as 1 of 3 billionaire NBA athletes, and the only active billionaire NBA player, by simply accumulating their league earnings in a pile. Since he was drafted back in 2003, the All-Time Scorer has used his fame and money to create a diverse portfolio of investments and endorsements, which has increased his earnings to an exorbitant level. LeBron’s business acumen isn’t something that takes a break when he is in the middle of the season either. This was seen as the 40-year-old added another brand name to his portfolio amid a busy week!

A few hours ago, it was announced that LeBron James has now made a major investment to become a part of another sports series. That is an international all-electric raceboat championship. His new business venture is ‘Team AlUla’, a brand-new UIM E1 Series motorboat racing team. It is set to participate in the 2025 E1 season. ‘Team AlUla’ will be making its debut during the E1 Jeddah GP on Saturday. This will be the 2 season of the motorboat racing tournament.

For those who may not be aware, the UIM E1 World Championship was first announced in 2022. The inaugural season kicked off back in February 2024 with the Jeddah GP, and was held in Saudi Arabia. Since the idea was conceived, E1 co-founders Rodi Basso and Alejandro Agag got some big names to become team owners.

As a result, the other E1 Series teams now boast owners like Tom Brady (Team Brady), Rafael Nadal (Team Rafa), Will Smith (Westbrook Racing), DJ Steve Aoki (Aoki Racing Team), etc. Other names include Didier Drogba (Team Drogba), Marcelo Claure, Virat Kohli, and Marc Anthony (Team Miami Powered by Magnus).

It was Team Brady that won the 2024 E1 Series championship. Now, LeBron James has come in to provide some stiff competition to the other sporting legends. Unlike Tom Brady and Rafael Nadal, however, LeBron has not chosen to use his name as the team’s. Instead, he went with “AlUla”, the name that has been given to one city in Saudi Arabia that reportedly houses Hegra, the Kingdom’s first UNESCO World Heritage site. The drivers for James’ new motorboat team will be Rusty Wyatt and Catie Munnings.

“As a lifelong fan of sports and competition, the opportunity to own an E1 team that represents such a high level of innovation in sports is incredibly exciting” said LeBron James in a statement. “E1 is a new type of global competition that’s revolutionizing water racing and I’m proud to be at the forefront of its expansion in season two.”

The Los Angeles Lakers are still in the midst of their regular season. However, LeBron James has still made a major investment decision. Now, his sports team joins the same list containing Liverpool FC, Boston Red Sox, and Blaze Pizza. Having invested and played a major role in so many brands, one would think that LeBron James might get overwhelmed. Not by a long shot, since the business empire is continuing to grow, and the Lakers star isn’t the only one who is aiding in its expansion.

LeBron James’ wife Savannah promotes a membership-based platform and highlights business updates while in South Korea

Savannah James recently generated headlines for taking a trip to South Korea, along with Zhuri. Through her social media updates, one saw Savannah and Zhuri walking on the streets, shopping, enjoying the local delicacies, etc. They even visited a laboratory. However, while in South Korea, the 38-year-old made sure to not devote all her time to pleasure and relaxation.

The laboratory visit wasn’t just a simple tourism thing. In fact, according to a report, Savannah is making significant progress on the path to launching her own skincare line. This was seen by her post marking the visit to the testing site and writing “We’re getting closer….”. Furthermore, while in South Korea, Savannah kept sharing updates of ‘Let it Break’.  It is a membership-based initiative that reportedly provides resources and support for women on a self-discovery and personal growth journey. The initiative looks to utilize shared experiences and educational tools while also encouraging purposeful work. While the business is still in its early stages, reports reveal that a few clients from New York City have already begun to be accommodated.

Staying Idle is not something that James seems to be good at. Utilizing every opportunity that comes their way, it seems that their journey of expanding the business portfolio will not stop anytime soon.