LeBron James has made several wise business decisions, making him the billion-dollar athlete he is today. But as a youngster, he had made some silly investments as well, which he still regrets. One of LeBron’s first investments was buying a $4.6 million mansion in Las Vegas in 2005. As a 21-year-old, James quickly jumped into this investment in an attempt to build a luxurious life in Sin City. Now a decade later, this has turned out to be one of his worst business decisions ever.
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James’ ordeal stems from nobody willing to buy the mansion in Vegas. The King is facing a similar situation as Jordan, who is still struggling to find a suitable buyer for his $14.8 million Highland Park mansion on the outskirts of Chicago. Initially listed for $29 million, the mansion struggled to find a suitable buyer. A decade later, with the price almost halved, Jordan is still searching for someone willing to buy his Highland Park estate.
INSIDE MJ’S HOUSE: Originally listed in 2012, Michael Jordan’s $14 million Chicago area mansion has still not sold.
MJ once offered a pair of every edition of signature Air Jordans as an incentive to prospective buyers.
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— Sole Retriever (@SoleRetriever) January 21, 2023
As a 21-year-old with a lot of money, LeBron did what any kid in his place would do. In an episode of Kneading Dough by Uninterrupted, James recalled buying a Las Vegas mansion in 2005 for $4.6 million.
Speaking to Maverick Carter about the investment, LeBron James said:
“Every summer — obviously our training camp was in Vegas — I would go to Vegas. I’m young… I’m 21, 22. My family’s coming out. They love it. Let’s buy a house!”
A decade after this incident, James repents this as one of his worst financial decisions. The house is now for sale, but cannot garner any suitable buyers. Cursing his younger self for this decision, LeBron had added,
“You idiot! Who buys a house in Vegas?”
The Lakers superstar’s best business decision was signing his show contract with Nike. He is currently one of the very few athletes with lifetime contracts.
LeBron also has a property portfolio worth around $100 million. Upon arriving in Los Angeles, James invested in two luxurious residencies in Brentwood and Beverly Hills. Furthermore, he is among the league’s richest athletes, expected to earn nearly $350 million from NBA contracts after his Lakers contract expires in 2025.
LeBron James plans on owning an NBA team like Michael Jordan
LeBron James has high aspirations of owning an NBA team, similar to his role model Michael Jordan. Jordan made a $275 million investment in 2010 to buy a majority stake in the Charlotte Hornets. Since then, he remained a principle figure in the operations of the franchise before selling his stakes for $3 billion in 2023.
LeBron James had also expressed a similar interest if the NBA ever expanded to Las Vegas. He even personally pleaded to Commissioner Adam Silver showing interest in owning a team in the ‘Sin City.’
