LeBron James is best known for his skills on the basketball court, but he is equally knowledgeable when it comes to his investment and corporate portfolio. In fact, despite being the highest-paid player in the NBA, most of that money was earned off the pitch, like his starring role in the 2021 movie âSpace Jam: A New Legacyâ.
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Here’s a look at how James is making millions outside of his basketball career.
He is now part owner of the Boston Red Sox.
James’ most recent business acquisition was a stake in the MLB Boston Red Sox. It acquired a 1% stake in March, Axios reported. This could prove to be a very valuable investment – according to Forbes, MLB valuations have skyrocketed over the past 10 years, from an average of $ 523 million to $ 1.85 billion.
This is not the only sports team in which he has a participation
James previously acquired a 2% stake in Liverpool FC football club, Forbes reported. The team is valued at nearly $ 2.2 billion, with annual revenue of $ 613 million in 2019.
He is the founder or co-founder of several companies
James has his own production company, SpringHill Entertainment, and a media company, Uninterrupted. According to the SpringHill website, its original movies and series have appeared on Netflix, HBO, Disney +, Apple +, CBS, NBC, ABC, and ESPN. The company produced the highly anticipated “Space Jam” sequel, “Space Jam: A New Legacy,” which stars James himself.
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In addition to his own businesses, James has partnered with Cindy Crawford, Arnold Schwarzenegger and Lindsey Vonn to launch the Ladder health and wellness business.
James also brings pizza dough
James owns 19 Blaze Pizza franchises in Chicago and South Florida, Forbes reported. He is also an investor in the company.
Other sources of income
Outside of his investments and business relationships, James brings in millions through sponsorship deals. He recently ended a long-standing deal with Coca-Cola – which he has approved since 2003 – and signed with PepsiCo in a new deal valued at around $ 4 million a year, Forbes reported. .
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James’s acting career is also lucrative. Forbes estimates that he will win at least $ 5 million to star in the new movie “Space Jam”. And of course, there are also his basketball wins. The four-time MVP signed a four-year, $ 153 million contract with the Los Angeles Lakers in 2018. Through his various sources of income, James earned $ 88.2 million in 2020, placing him 9th overall in the league. Forbes Celebrity 100 ranking.
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Last updated: July 15, 2021
This article originally appeared on GOBankingRates.com: An Overview of LeBron James’ Profitable Business and Investment Portfolio