Lebron James Pockets $30 Million from Beats by Dre Sale!

Lebron James Pockets $30 Million from Beats by Dre Sale!

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lebron james beatsWhile everybody was buzzing about Dr. Dre and Jimmy Iovine cashing in on $3 billion after selling their Beats company to Apple, nobody took notice that Lebron James got a percentage of that cash.

Okay, so it’s nowhere near as much as Dre was believed to have gotten ($700 million) but it’s still good money.

James reportedly received $30 million for having invested into the company back in 2008 when he signed a deal with Dre to help launch the headphones and promote them in TV commercials, social media and sport events.

Well, six years later and Lebron has cashed in on a seven-figure deal which is pretty impressive considering that he didn’t have to do anything other than wear the headphones and put a little money into the business to jumpstart the company.

According to theYBF: “In a recent example, while James was leading the Heat to a victory over the Indiana Pacers in the Eastern Conference finals, sources say the 29-year-old was finalizing what is believed to be the biggest equity cash payout for a professional athlete in history as part of Apple’s recent $3 billion purchase of Beats Electronics.”

“Sources briefed on the situation say James realized a profit of more than $30 million in cash and stock in the Beats sale after he had struck a deal to get a small stake in the company at its inception in 2008 in exchange for promoting its high-end headphones.”

Lebron James is quickly sniggering up those millions, raising his net worth to almost $300 million thanks to endorsement deals, partnerships and his multi-million dollar contract with the Miami Heat.

Of course Lebron has a long way to go if he wants to catch up with Michael Jordan who recently surpassed the $1 billion net worth mark — a huge sum of that comes from his Jordan sneakers which make him close to $70 million a year alone.

These athletes are putting us to shame. Maybe I should invest more time in playing a sport than writing the stories about these athletes? Perhaps I, myself, stand a chance of becoming a billionaire. Or not.

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