LeBron James’ astute business acumen has helped him achieve a reported net worth of over $1.2 billion, and this story is an excellent example of how he did it.
For the past two decades in the NBA world, there has been no superstar that has achieved the sort of success that LeBron James has. The King has become the greatest basketball player ever for many fans.
While his on-court greatness has earned him nearly $600 million in salary alone, he has been able to reportedly double that figure with his incredible work in the world of business.
James has shown time and again that he takes a long-term approach to all his professional endeavours. And his 2012 decision to turn down a lucrative McDonald’s offer for Blaze Pizza is a perfect example.
LeBron James’ Blaze Pizza decision earned him an estimated $25 million more than his McDonald’s deal
In 2012, LeBron James had finally won his first championship and was in the prime of his NBA career. At this time, every major brand sought his endorsement, and he was already involved with McDonald’s.
But around this time, despite an offer of $15 million over four years from the fast food giant, James instead chose to buy equity in the young Blaze Pizza chain. And it paid off in spades, as he later explained.
But I remember we went to UC Irvine, the first ever Blaze, and we tasted the product, and the product was phenomenal. Then you came to me with the proposition that we could actually own our own and be franchisees in a couple of cities in America.
“The numbers that you were showing me, the potential that we could make if we just put the time and effort into it, exceeded what McDonald’s would be guaranteeing me over the next four years.
“More importantly, for me, it was like, ‘Wow, we get to actually build this, be a part of something.’ Forget the money. We can actually build something.”
Blaze Pizza has now grown to an enormous size, with 230+ locations within the United States as well as internationally. LeBron himself reportedly owns 19 franchises.