LeBron James silently made $700 million from Apple’s move
LeBron James has been a shrewd investor throughout his life. The master of the deal quietly picked up a check for $700 million from Apple.
Beats by Dr. Dre will perhaps be remembered as the hallmark brand from the 2010s. From commercials featuring the likes of LeBron James to Neymar to Serena Williams, there was no athlete that didn’t sport the iconic headphones.
Their popularity became so big that in 2014, Apple acquired the company. Started by Dr. Dre the hip-hop mogul from the 90s, the brand’s inception and acquisition came about in less than two decades.
In that short span, they went from worth a few million dollars to cash in a $3.2 billion paycheck. Among the primary recipients of the money were Dr. Dre, his partner Jimmy Iovine, and LeBron James.
Yes, the Lakers superstar made a deal that would change his fortunes. Instead of picking it up as a typical endorsement deal, the company and LBJ decided he would have a stake in it.
When the headphones first became viral in 2008, James knew his decision would pay off well.
A $700 million check from Apple? LeBron James did know how to make moves off the court
Just six years, a bunch of viral commercials later, Apple announced that they had acquired Beats. A landmark moment for startups, especially in the music industry.
Loading embed tweet https://twitter.com/Complex/status/1037781228596985857?ref_src=twsrc%5Etfw
As for LeBron James, he received a cool check for $700 million. He has since appeared in numerous commercials for the brand.
Loading embed tweet https://twitter.com/bgarciaivsports/status/1255559572644741120?ref_src=twsrc%5Etfw
The move is noteworthy not because he made so much money but because LeBron often forgoes immediate gratification for long-term rewards. He continues to do so and recently, Forbes conferred him the Billionaire status.
Share this article