Connect with us

LeBron James: The Next Warren Buffett?

Published

on

It took Buffett 50 years to hit $700 million. Yet, in his next 33 years, he’d bank an astounding $62.3 billion more wealth.

Buffett grew that wealth through a series of savvy business moves by buying great companies that found huge success in the years after he took a stake in them.

Now, imagine where Buffett might be if he had been worth hundreds of million in his twenties.

That’s exactly the position we find LeBron James. LeBron is only 29, has become an unexpected protégé to Buffett (seriously), and he’s quietly building sport’s most powerful business empire with the help of the Warren Buffett.

Buffett: LeBron James is savvy
While they’re an unlikely duo, sightings of LeBron James and Warren Buffett together are not hard to find. The two dined together (along with Bill Gates!) in Las Vegas and have been spotted golfing in Sun Valley together.

Get this, LeBron even sends his financial statements to Warren Buffett! Here’s an excerpt from an interview with LeBron in Sport Illustrated:

“I sent an e-mail about this to Warren Buffett. I’m a kid from Akron who lived in poverty for a long time, and I sometimes send financial statements to one of the richest guys ever. It’s kind of scary. I’m like, ‘Why is he talking to me?’”

LeBron doesn’t need to worry why Buffett would spend time advising him, because Buffett has been nothing but glowing in his praise of LeBron. In an interview with NBA TV, Buffett described LeBron as “remarkably mature,” being “plenty smart about financial matters,” and saying “I was impressed with him right from the moment I met him.”

As far as LeBron’s business sense, Buffett continued pouring on the accolades. He said, “LeBron’s not really talkative, he’s savvy,” continuing with, “he talked smarter about business deals than plenty of MBAs I’ve met … when I talked with him first, he was 21 then… He knew a lot more than I did when I was 21.”

Basketball’s first billionaire
So, LeBron has the stamp of approval from one of the world’s wealthiest men ever. But, can a basketball player really become a billionaire?

That’s certainly LeBron’s goal. Just look at what he told the Associated Press:

“In the next 15 or 20 years, I hope I’ll be the richest man in the world.” LeBroncontinued with, “That’s one of my goals. I want to be a billionaire.”

Yet looking at another basketball player – one that LeBron is most often compared to – suggests that billionaire goal is attainable for LeBron. Michael Jordan, who hit the billionaire level within this last year at the age of 50, found the status at a younger age than Buffet did.

How’d Jordan do it? For one, even though he’s been retired for 10 years, he still makes a remarkable amount of money. Last year he made $90 million, higher than any current basketball, football, baseball, or soccer player! Nearly all that money comes from endorsements, where Jordan still mints a small fortune getting a cut of Nike’s “Air Jordan” shoes.

The path to being a billionaire: build businesses!
Yet, Jordan’s jump to the billionaire’s club doesn’t come from his marketing, but instead from one savvy business move. In 2010, Jordan bought a controlling stake in the Charlotte Bobcats for $175 million. Today, the team’s value is estimated at over $600 million. Jordan owns 89.5% of the team.

LeBron James brought in $72 million last year between his salary and endorsements. That’s very impressive as it makes him the third highest paid athlete in the world. With LeBron’s feel-good story of “heading home” to Cleveland, his marketability – and earnings – will only increase in the years to come. Yet, that alone won’t get him to multi-billionaire wealth.

While LeBron parallels some of Jordan’s wealth management moves, his maturity and financial smarts that Buffett pinpointed give LeBron a leg up.

LeBron has a game plan for huge wealth, and it’s about much more than basketball. As LeBron’s business manager told CNN way back in 2007:

“It’s impossible to get to a billion dollars by endorsement deals. The biggest deals only take you so far. It’s how you make money when you’re asleep that’s going to get you there.”

LeBron knows that he’ll only reach his goals through being a smart businessman. He’ll need to keep learning from Warren Buffett.

Avoiding vice—build an empire
Yet, even before LeBron can build his business empire, he needs to be smart about not squandering his money.

An estimated 60% of NBA players are broke within five years of retirement, in spite of the average salary sitting at a whopping $5.15 million a year.

What causes these players to lose such remarkable wealth so fast? Poor money management for one, but also vices like buying expensive cars, and gambling. Jordan has a streak for gambling that’s so famous, whole books have been written on the subject! (Luckily, his $90 million in earnings can cover quite a cold streak)

Yet, once again we can turn to Warren Buffett to describe how – while still enjoying himself – LeBron avoids the vices of many athletes.

“LeBron just has his head screwed on right. If he goes to a casino, he may decide he’ll lose up to $500 – or some number – but, he’ll never do anything silly. And if you never do anything dumb, you’ll do fine in life.”

So, with LeBron being smart about the money he earns, where is he investing that money?

Following Buffett’s lead
He’s actually investing his money – the Buffett way!

Let’s look no further than LeBron’s business manager, who said, “[Buffett] always says invest in what you know. LeBron, we invest in what we know, or we don’t get involved.”

Buffett built his business empire through his holding company – Berkshire Hathaway – which is now worth more than $300 billion and controls a number of well-known brands. These brands are centered on industries Buffett easily understands, like insurance (Geico), restaurants (Dairy Queen), and even Candy (See’s Candies).

LeBron has started building his own “mini-Berkshire,” filling it with brands he has a good understanding of. Like Jordan, James has taken a stake in a sports team (Liverpool FC) in a league where team values are rapidly rising.

He has also applied his savvy business instincts to smaller deals. Consider this, after taking a small stake in Beats headphones, LeBron convinced the rest of Team USA’s basketball team to wear the headphones during the Olympics. Thanks in large part to LeBron promoting the brand, Beats took off.

Earlier this year Beats was sold to Apple for a whopping $3 billion. LeBron’s profits from his Beats stake is estimated as the single largest equity payout for a professional athlete in history.

Nice move, LeBron.

Not quite Buffett yet
Obviously, LeBron isn’t quite at Warren Buffett’s level yet. He’s the world’s best businessman, no one is.

However, LeBron’s stake in Beats shows that he understands his potential value to consumer brands like shoes, clothing, or even headphones, and is smart enough to command ownership (equity) in businesses he’s putting his brand behind.

By the end of this year, its likely LeBron’s fortune will stand at between $300 million and $400 million. Keeping that invested at 7% per year – below the long-term returns of the stock market – and LeBron’s fortune could grow to about $2.7 billion by the time he is 60.

LeBron’s already the world’s best basketball player. With Buffett advising him and a string of business successes behind him, it’s not crazy that his next stop is becoming the world’s wealthiest athlete.

The one company keeping billionaire Warren Buffett up at night
LeBron is often seen sporting the newest techonology, but savvy investors know Warren Buffett has never been a fan of technology. And now, an emerging technology is threatening the Oracle of Omaha’s bread-and-butter business. This new threat from Silicon Valley may spell the end for Buffett’s favorite investment. That’s why The Motley Fool is releasing this stunning new investor alert. Click here to claim your piece of the action.

Advertisement
Comments

Music

Global Pro Ent Drops “777”: A Mixtape Channeling the Soul of the Streets

Published

on

Straight outta New Jersey, Global Pro Ent is setting the streets ablaze with their latest release, “777.” This isn’t just any mixtape—it’s a testament to the raw, underground vibes that real hip-hop heads crave. The significance of “777” runs deep; not only does it mark the founding date of Global Pro, but it also represents the original unity of seven members, embedding the essence of family and origin into every track.

The vision behind “777” was clear from the get-go: bring back that classic mixtape feel, the kind that never made it to mainstream albums but thrived in the underground scene. This project is designed to resonate with those who appreciate hip-hop in its purest form, crafted to reignite a passion for the game with a modern twist that only Global Pro can deliver.

Featuring a lineup that reads like a who’s who of emerging talent—Zilla, Bgroovecmd, Skillzondabeat, JLondabeat, Luxx, Lil Geno, and HG, plus knockout features from Big Moose 280, Scrilla 280, 211, A$, and Mike Checks—”777″ showcases a powerhouse of diversity. Each artist brings their unique style to the table, from hardcore rap and drill to melodic flows, creating a dynamic sound that defines the Global Pro brand.

The CEO of Global Pro isn’t just overseeing from the sidelines; he’s a frontline leader deeply involved in the creation process. From booking studio sessions to giving real-time feedback, he ensures that every track not only hits hard but also carries the authentic spirit of the label—family first, quality always.

While specifics of the marketing strategy are kept under wraps, the label is buzzing with activity—video shoots, photo sessions, and non-stop studio work. This relentless hustle ensures that when “777” drops, it doesn’t just release; it makes an impact, echoing through the streets and across the industry.

Despite facing challenges like coordinating efforts across New Jersey’s sprawling landscape, the label’s proactive approach has turned logistical hurdles into stepping stones. They’re on a mission to transform New Jersey into a new hotspot for hip-hop, proving that unity and hard work pay off.

“777” is more than just a mixtape; it’s the beginning of a new era for Global Pro Ent. It’s a declaration that they’re here not just to play the game but to elevate it. With artists like Lil Geno and JL as the next up, the label is not just predicting the future of hip-hop; they’re writing it. So, get ready—Global Pro Ent is about to turn the volume up, and they’re just getting started. Jersey, it’s your time to shine!

Listen to the project: https://open.spotify.com/album/4RTPWz1pm6Vx6zXudsfJF3?si=k0uXNjM8SGimuejDKoGIiQ

Continue Reading

Music

Delaware Rapper Trigga T.R.I.G Makes An Impact With His Album “Psalms 57:7”

Published

on

By

Captivating Delaware rapper and songwriter Trigga T.R.I.G strikes with his infectious album “Psalms 57:7…..Timing Is Everything,” released via indie label Free Agent Music Group. On the riveting project, the enthralling rhymespitter illustrates his deft balance of catchy hooks, dope beats, and witty wordplay. His delivery is confident and bold as he effortlessly rides the beats with his trademark flow.

Clocking in at approximately 40 minutes, the determined storyteller leans into the pulsating production with fearless verses punctuated by his raw tone. His fascinating vocals perfectly accentuate the remarkable beats, making the refreshing 11-track album a repeat-worthy release in your playlists.

Currently incarcerated and soon to be up for parole, life has been a rollercoaster of experiences, both good and bad, for the Eastcoast wordsmith. Raised in a chaotic and abusive household, Trigga T.R.I.G found his outlet in Rap, sports, gang associations and drugs, getting deeply caught up in the street life. These experiences are detailed in the most honest and transparent of ways throughout his new album “Psalms 57:7…..Timing Is Everything.”

Trigga T.R.I.G’s music oozes with charm and an undeniable charisma. Making waves with his electrifying sound that marries stellar beats with impressive wordplay, he is undoubtedly carving out his own path. The skillful entertainer aimed to make the best out of his circumstances and honed in on his artistry, which quickly earned him recognition in Delaware and beyond. If you are a true Hip-Hop enthusiast, then you will enjoy this budding rapper.

With “Psalms 57:7…..Timing Is Everything” serving as the next taste of what’s to come, fans can expect Trigga T.R.I.G to continue pushing boundaries and delivering the raw energy and authenticity that have made him a standout in the game. What sets him apart from many other artists is his ability to seamlessly blend various genres and create a sound that is truly his own. His ability to create music that resonates with audiences from different backgrounds and his commitment to pushing boundaries have earned him a dedicated following and critical acclaim.

Press play and stream Trigga T.R.I.G’s album “Psalms 57:7…..Timing Is Everything” on Spotify.

The imprisoned artist can be contacted by the following option:

Mail
Eric A. Young #QN6956
SCI Mahanoy
Smart Communications/PASOC
P.O. Box 33028
St. Petersburg FL 337331

CONNECT NOW
Linktree: https://linktr.ee/triggatrig
Instagram: https://www.instagram.com/tdot_izzr

Continue Reading

Interview

Game Changer in the Music Industry: MGM Stanlo’s Vision for the Future

Published

on

Groundbreaking artists aren’t just born. They’re forged through relentless grind, unwavering vision, and a sharp business acumen. This deep dive into the industrious mindset of MGM Stanlo reveals the strategy behind making music crackle with energy and authenticity.

Building a Brand That Beats the Odds

Creating a presence in the music industry requires more than just raw talent; it demands a personal brand that resonates with your audience. MGM Stanlo understands the importance of setting himself apart with a distinct sound and persona. “I tell them, I’m not your ordinary Louisiana artist,” Stanlo asserts. He’s aware of his regional stereotype but spins the expectation on its head to show his unique approach to the music. Crafting an identity that defies the norm has helped him gain traction, while embracing social platforms and live interviews extends his reach even further.

*“It’s definitely will be a different take on it,” * Stanlo explains. His message to aspiring musicians is clear—challenge conventions and build a personal brand that’s versatile, memorable, and relatable.

From Passion to Paycheck: The Shift in Musicpreneurship

Embracing music as a business is pivotal for serious artists, and MGM Stanlo exemplifies this shift by discussing his growth from passion-driven performer to strategic entrepreneur. *“To actually receive income to take care of my family. ‘Cause, like, I know it’s fun, it’s a hobby. But the business side of it, like, now it’s time to start getting royalties.”* Music is a multifaceted business calling for artists to think about their craft in terms of investments and returns.

Stanlo’s revelation elevates the conversation around music and entrepreneurship, highlighting the importance of learning the ins and outs of the music business to prosper. It’s clear: artists need to be shrewd business operators as much as they are creative contributors.

Consistency: The Beat That Doesn’t Stop

The theme of consistency is a drumbeat throughout MGM Stanlo’s journey, as he underscores the importance of maintaining momentum. *“Stay more consistent,” * he advises his younger self, alluding to lost time and opportunities. His current trajectory—rife with releases and planned music videos—is a testament to his newfound focus on persistence.

Stanlo’s candid reflection on his past underscores a broader truth within the industry: talent may open doors, but it’s grit and regular output that keep them wide open. For an artist like MGM Stanlo, going full throttle isn’t just a choice but a strategic imperative unique to the hyper-competitive world of hip-hop.

The Unseen Horizon: Diversifying the Portfolio

A true artist doesn’t merely keep up; they leap forward into new realms. Stanlo eyes avenues of expansion, like his dive into the world of fitness as an extension of his brand. *“I want to open an own gym to become a trainer and do that too,”* he shared, casting a vision where music and fitness intersect. His proactive stance suggests the more versatile your ventures, the more robust your career resilience.

Envisioning his future, Stanlo’s ideas go beyond hitting the gym; they encompass building a community around health, much like he has around his music. It’s a lesson in diversification that every aspiring artist should take to heart.

MGM Stanlo isn’t just another artist trying to make his mark; he’s an entrepreneur seeking to etch his name in stone. He has laid out the tools he has used and plans to use: personal branding that breaks grounds, savvy business practices, unyielding consistency, and an undeterred spirit to harness new ventures. His is a narrative that resonates with the grind synonymous with success in music and beyond—a story of a man who keeps asking, “What’s Tha location?” yet knows precisely where he’s going.

Continue Reading

Trending

*