Basketball is as much a sport of business moves and relationships as it is about action on the court. LeBron James rose to become the face of the league because he understood that those were two sides of the same coin. One of LBJ’s most prominent business relationships is with billionaire Warren Buffet. The King’s new media rival, Stephen A. Smith, once asked James about his Buffet connection.
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The conversation took place in 2008. The then-Cleveland Cavaliers star said he wanted to inspire people globally. And Buffet, whom he became close to the previous year, helped him figure out how to achieve that goal while making the most of his NBA earnings.
While LeBron spoke about his passion for bettering the world through his NBA success, Smith was more intrigued by the King’s connection with the billionaire. SAS wanted to know how James’ relationship with Buffet played into those plans.
“What does that have to do with a good relationship with Warren Buffet? A mastermind. A billionaire” asked a genuinely curious Smith.
LeBron laughed, as the pressing tonality of the question made it seem more a joke than an attack. “Basketball is gonna take care of that,” James responded. “Basketball is gonna take care of the meetings that I had with Warren Buffet.”
James and Buffet, whose net worth is estimated to be $163 billion right now, formed a friendship back in 2007 after LeGOAT appeared in a video for the Oracle of Omaha’s Berkshire Hathaway holding company. The video featured James losing a one-on-one matchup against the billionaire.
Buffet later became a guru to James’ financial life. He even praised the future Hall of Famer for his savvy business mind.
Buffet once told James to try and ‘own America’
One piece of advice Buffet publicly gave James was regarding investments in American companies. “Owning the United States at a decent average price bought over time, you really can’t go wrong with that,” the now 94-year-old businessman told the basketball superstar in 2015.
Seven years after receiving Buffet’s wisdom, in 2022, James reached a net worth of over $1 billion.
Evidently, James took the advice. The four-time NBA champion owns a stake in major names like Fenway Sports Group, SpringHill Company, Blaze Pizza, Lyft, PGA Tour, Nike, Tonal, Real Estate, Beats By Dre, and many more. The smart business moves have helped elevate LBJ to a billionaire.
LeBron had a strong mind for business from a young age, something Sebastian Telfair once pointed out after seeing his side with Nike early on in his career. With a “mastermind” like Buffet in his ear, it’s easy to see how James ensured his wealth and business portfolio grew manifold.
