LeBron James has made some incredibly savvy business decisions with his massive NBA salaries, which have awarded him his billionaire status today. The wise decisions include signing an endorsement deal with Nike, which has amassed him incredible wealth even as an active NBA player. The four-time NBA champion also had a $15,000,000 contract with the fast-food chain McDonald’s, among his various endorsement deals. However, after winning his first title in 2012, LeBron was presented with another investment opportunity with an unknown pizza chain.
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This opportunity presented a chance for the King to carve his own path in the fast food industry business. However, as per his contract with McDonald’s, LeBron was not permitted to promote any other fast food chain besides the one he was signed with. Therefore, the Akron Hammer decided to ditch his $15,000,000 contract with McDonald’s to invest $1,000,000 of his own in Blaze Pizza. This investment would also guarantee James a 10% ownership stake in the company. Luckily, his investment on Blaze Pizza paid off, raising his investment’s worth to around $50,000,000.
LeBron James’ risky investment of $1 million paid off
LeBron James emerged as a lucrative entity for brands to endorse their products during the height of his career. In 2010, McDonald’s had the chance to sign him for $15,000,000, making him a valuable partner for the Golden Arch company. LeBron’s business partner Maverick Carter had remarked this deal to be a ‘perfect fit’ for both parties.
After winning his first Finals MVP in 2012, LeBron seriously considered investment opportunities. This is when his investment advisor Paul Wachter suggested that he invest $1,000,000 in the pizza chain brand, Blaze Pizza. At that time, Blaze Pizza was a relatively unknown food chain, having just two branches in California. Joe Pompliano posted a video on his YouTube channel, thoroughly describing the incident.
LeBron’s investment carried the risk of losing out on a massive $15,000,000 paycheck from the Golden Arch company. Nevertheless, he took the risk of ditching McDonald’s and investing $1,000,000 of his own in Blaze Pizza. The investment also earned him a ownership stake in the company.
Eventually, LeBron started promoting his new company and the brand’s popularity massively increased. Blaze Pizza expanded to over 300 branches across the United States from the two restaurants in Irvine and Pasadena, California. LeBron’s $1,000,000 paid off well, with his investment now worth around $50,000,000.
This is just one of many examples of LeBron’s savvy business acumen and wise decision-making. Former Cavs teammate Iman Shumpert had once remarked that he would trust LeBron with all his money for worthy investments.
James’ promotion of the liquor brand Lobos 1707
LeBron James has an ever-growing business portfolio, one of his latest additions being in 2020 for the liquor brand Lobos 1707. James could be seen promoting the brand heavily on his social media profiles and sharing hilarious stories of his friends with the product.
One time, James shared an instance of his friend hallucinating after drinking Lobos 1707 tequila in Las Vegas. He described how his friend found the alcohol so good he started seeing wolves on his back. Many others, who have also tasted the brand’s product, describe it to be top notch. These instances prove once again that King James is among the smartest athletes when it comes to making the best business decisions.
