LeBron James graced the cover of Sports Illustrated at the age of 16 — labeled "The Chosen One."
Now 36, he's exceeded expectations.
This is the story of how @KingJames lived up to the hype, built an empire & impacted millions of lives in the process.
Time for a thread 👇👇👇
Now 36, he's exceeded expectations.
This is the story of how @KingJames lived up to the hype, built an empire & impacted millions of lives in the process.
Time for a thread 👇👇👇
1) Let's start in 2003...
LeBron James, an 18-year-old senior from Akron, Ohio, is the greatest high school basketball player of all-time.
Nicknamed "King James," LeBron was a shoo-in to be the #1 overall pick in the NBA draft — but first he had a decision:
Reebok or Nike?
LeBron James, an 18-year-old senior from Akron, Ohio, is the greatest high school basketball player of all-time.
Nicknamed "King James," LeBron was a shoo-in to be the #1 overall pick in the NBA draft — but first he had a decision:
Reebok or Nike?
2) Before he met with Nike in 2003, Reebok made an 18-year-old LeBron James the offer of a lifetime.
Reebok offered @KingJames $115M, with a $10M check upfront.
The catch?
He had to accept on the spot.
Despite living in a $17/month apartment, LeBron declined.
Next up, Nike.
Reebok offered @KingJames $115M, with a $10M check upfront.
The catch?
He had to accept on the spot.
Despite living in a $17/month apartment, LeBron declined.
Next up, Nike.
3) Having the wisdom not to accept the first offer he received, LeBron James headed to Nike — eventually accepting a historic $90M deal.
At $90M, @KingJames secured the richest shoe deal for a rookie in NBA history before ever playing a game.
Now, it was time to get to work.
At $90M, @KingJames secured the richest shoe deal for a rookie in NBA history before ever playing a game.
Now, it was time to get to work.
4) From 2003 to 2020, @KingJames has put together a legendary resume — cementing himself as one of the greatest NBA players of all-time.
— 4x NBA MVP
— 4x NBA Champion
— 4x NBA Finals MVP
— 16x NBA All-Star
Even more impressive?
He has built a massive business while doing it.
— 4x NBA MVP
— 4x NBA Champion
— 4x NBA Finals MVP
— 16x NBA All-Star
Even more impressive?
He has built a massive business while doing it.
5) Here's a wild stat:
Despite his desire to play 4-5 more years, @KingJames is already the highest-earning NBA player of all time — making ~$350M in salary alone.
The interesting part?
By multiplying it through investments, he's set to become basketball's second billionaire.
Despite his desire to play 4-5 more years, @KingJames is already the highest-earning NBA player of all time — making ~$350M in salary alone.
The interesting part?
By multiplying it through investments, he's set to become basketball's second billionaire.
6) From an investing standpoint, @KingJames has changed the game forever.
Today's superstar athletes now demand equity ownership, rather than "old-school" endorsement fees.
Simply put, LeBron doesn't just endorse companies — he owns them.
Here's a few examples…
Today's superstar athletes now demand equity ownership, rather than "old-school" endorsement fees.
Simply put, LeBron doesn't just endorse companies — he owns them.
Here's a few examples…
7) When Dr. Dre & Jimmy Iovine started Beats in 2007, @KingJames wanted a piece.
Rather than becoming just another celebrity endorser, LeBron received 1% equity in the business.
When Apple bought Beats for $3B in 2016, LeBron took home $30M — which was more than his NBA salary.
Rather than becoming just another celebrity endorser, LeBron received 1% equity in the business.
When Apple bought Beats for $3B in 2016, LeBron took home $30M — which was more than his NBA salary.
8) In 2011, rather than accepting cash, @KingJames received a 2% stake in Liverpool FC as part of business deal with Fenway Sports Group.
As Liverpool improved, so has LeBron's investment.
Originally valued at $6.5M, @KingJames' stake is now worth more than ~$45M - or 7x more.
As Liverpool improved, so has LeBron's investment.
Originally valued at $6.5M, @KingJames' stake is now worth more than ~$45M - or 7x more.
9) In 2012, LeBron James and his business partner @mavcarter acquired 10% of Blaze Pizza for ~$1 million.
Blaze Pizza Revenue:
2012: $800,000
2015: $100 million
2019: $400 million
With endorsement fees included, @KingJames' stake is now worth about $50 million.
Blaze Pizza Revenue:
2012: $800,000
2015: $100 million
2019: $400 million
With endorsement fees included, @KingJames' stake is now worth about $50 million.
10) As if that wasnt enough, @KingJames has continued to expand his business.
Springhill Entertainment, his media company run by @mavcarter, received a $100M investment in June.
He also launched a tequila—Lobos 1707—looking to replicate George Clooney's $1B sale of Casamigos.
Springhill Entertainment, his media company run by @mavcarter, received a $100M investment in June.
He also launched a tequila—Lobos 1707—looking to replicate George Clooney's $1B sale of Casamigos.
11) Looking to give back, @KingJames has continuously reinvested in his home of Akron, Ohio.
He's donated millions to local schools & even opened a 450+ student school in 2018.
He's also launching House 330, where families can learn financial literacy & receive job training.
He's donated millions to local schools & even opened a 450+ student school in 2018.
He's also launching House 330, where families can learn financial literacy & receive job training.
12) When it comes to LeBron James, it's actually quite simple:
He was on the cover of Sports Illustrated at 16 — labeled "The Chosen One" — yet somehow still exceeded expectations.
Whether we like to admit it or not, most of us wouldn't be able to handle that pressure at 16.
He was on the cover of Sports Illustrated at 16 — labeled "The Chosen One" — yet somehow still exceeded expectations.
Whether we like to admit it or not, most of us wouldn't be able to handle that pressure at 16.
13) In the end, whether we're talking about sports, business, or philanthropy, @KingJames will go down as one of the greatest of all-time.
While everyone continues to debate who the GOAT is, one thing has become abundantly clear:
LeBron James changed the game forever.
While everyone continues to debate who the GOAT is, one thing has become abundantly clear:
LeBron James changed the game forever.
14) If you enjoyed this thread, you should:
1. Follow me, I tweet cool sports business stories every day.
2. Subscribe to my free daily newsletter where I give a detailed analysis on topics involving the money and business behind sports.
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1. Follow me, I tweet cool sports business stories every day.
2. Subscribe to my free daily newsletter where I give a detailed analysis on topics involving the money and business behind sports.
readhuddleup.com
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