These four investments in particular were a slam dunk.
LeBron James has made $272 million so far in his career, and is set to make another $117 million by the time his current contract with the Los Angeles Lakers ends in 2022. And he has delivered, winning three NBA championships and four NBA MVP awards, among many other accolades. He’s also capitalized on his success as much as any other athlete today, realizing that with his fame and wealth he could do more than just invest in others.
Among the companies offering him a contract were Adidas ADDYY, +0.48% at $60 million, Nike NKE, -0.78% at $87 million and Reebok at a whopping $115 million, per Brian Windhorst. James, a hip-hop junkie, was interested in working with the brand, according to Windhorst. But instead of just securing a typical sponsorship deal with Beats where he could be seen wearing the headphones in public, James and his team went another route.
Carter and James didn’t just want to be used by large corporations to promote products. They wanted to be partners — and they wanted ownership. James knew his brand was so strong that leveraging his influence for an ownership stake would see the most returns. James eventually agreed to a deal where he would promote Beats in exchange for a small piece of ownership.
Beats eventually was purchased by Apple AAPL, -0.13% for $3 billion, netting James an estimated $50 million from the sale, according to Windhorst.Fast food brands have been endorsing athletes for decades. Big chains like McDonald’s MCD, -0.64% have famously made commercials featuring NBA stars Michael Jordan and Larry Bird, and tennis’ Williams sisters, among others.
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