LeBron James' Next Act: How He's Building a Billion-Dollar Empire Beyond Basketball

Written By: Jackie Rae

Much like Bill Russell, Kobe Bryant, and Michael Jordan, LeBron James has cemented his name as one of the greatest in NBA history. Unlike his predecessors, the way LeBron has solidified his business portfolio to ensure his legacy beyond the game is unmatched.

It takes money to make money, so securing the future of himself and his family is a little easier with the $431 million LeBron has earned over two decades playing for the Cleveland Cavaliers, Miami Heat, and Los Angeles Lakers.

Of course, one of the first business deals many athletes make is a shoe deal. According to Forbes, LeBron earns about $32 million annually from Nike. Maverick Carter, James' longtime business partner, told GQ the deal is worth more than $1 billion.

From the outside looking in, it appeared he received another endorsement or brand ambassador deal with Beats by Dre. In 2008, most assumed his small stake in the company was in exchange for Beats using his name, image, and likeness. Instead, LeBron was a silent investor. When Beats Electronics was purchased by Apple in 2014, LeBron James reportedly received a $30 million payout.

One of the best ways to be successful is to keep the "main thing the main thing." Having a team that allows you to focus on basketball while they handle business opportunities epitomizes the phrase "teamwork makes the dream work!" This is the role of James' longtime friend and business partner, Maverick Carter.

In 2021, James and Carter took equity in Fenway Sports Group (FSG), the parent company of Liverpool Football Club and the Boston Red Sox. Last year, James increased his ownership stake through a lifetime marketing deal, demonstrating his commitment to the team. The Premier League giants are now valued at a staggering $5.37 billion.

Having a friend like Carter who can help facilitate deals has increased James' influence in the sports world. Tom Werner, chairman of Liverpool FC and the Boston Red Sox, highlighted the importance of James and Carter's involvement in 2021. "We have a very collaborative relationship, so I would actually say that their wisdom and their experience is going to be hugely helpful to us going forward," Werner remarked.

As one of the most elite basketball players known in the NBA, LeBron James has also embraced his role as an entertainer. So, it is no surprise that with Maverick Carter once again by his side, they founded SpringHill Company in 2020.

The company was a merger of three other business ventures, including Uninterrupted, created after a Fox News host suggested that James and other athletes should "shut up and dribble" instead of addressing racism in the US. Robot Company was James and Carter's marketing agency and brand consultancy, while SpringHill Entertainment was the original production company.

Founded in 2007, SpringHill Entertainment quickly made its mark with the release of "More Than A Game" in 2008, a documentary chronicling LeBron James and his teammates' high school basketball journey to stardom. Other notable successes include the 2019 documentary "What's My Name: Muhammad Ali" and the basketball-themed TV series "Survivor's Remorse," which aired from 2014 to 2017.

With the merger in 2020, SpringHill Company hit the ground running during the global pandemic by releasing the Netflix series "Self Made: Inspired by the Life of Madam C.J. Walker." While the series faced criticism for its modern musical choices and a fantasized boxing ring scene, it proved that James and Carter intentionally gave Black writers like Nicole Asher and directors like DeMane Davis and Kasi Lemmons a platform.

Nearly 70% of the staff at SpringHill Company are ethnic minorities, proving LeBron's commitment to giving a voice and opportunities to those who are often overlooked.

SpringHill has quickly risen to prominence, boasting Serena Williams on its board of directors, strategic partnerships with Disney and Universal Studios, and a valuation exceeding $700 million just one year after its launch. Named after the housing complex in Akron, where LeBron James grew up, the company generates about half its revenue from branded content for major clients like Google, American Express, Walmart, and General Motors.

Given his affinity for tacos, a taco restaurant seemed to be the next venture LeBron James would add to his business kingdom. Instead, in 2012, he walked away from his partnership with McDonald's and invested roughly a million dollars in California-based Blaze Pizza. Since then, his investment has grown to $35 million, and the family-run pizza restaurant has expanded to around 300 franchises across the US and internationally in Canada, Saudi Arabia, and the United Arab Emirates (UAE).

Given his extraordinary focus on taking care of his body, James's desire to enter the health and fitness arena is not surprising. This time, he teamed up with another well-known celebrity devoted to bodybuilding and maintaining health and fitness.

Famed bodybuilder, former California governor, and actor Arnold Schwarzenegger teamed up with James to create Ladder, a sports nutrition company with products including pre-workout, hydration, and plant protein supplements. James told Business Wire he created Ladder to address a need for clean, safe, effective products that would help maximize peak performance.

Despite his extraordinary success in basketball and business, LeBron James is still "the kid from Akron" who will never forget where he came from and is committed to making life better for the next generation.

Through the LeBron James Family Foundation, he aims to create generational change for 1,500 children and families in Akron, Ohio, focusing on education and co-curricular programs.

In 2018, James opened the I Promise School to support students in the bottom 30% for reading scores, providing free uniforms, mentorship, and family services such as GED classes and job placement support. Additionally, James launched House Three Thirty, a community center named after Akron's area code. This facility offers a sports complex, financial advice, job training opportunities, and an indoor dining space, fostering unity and support within the community.

LeBron James will turn 40 on December 30th. According to the NBA, he just signed a two-year, $104 million contract extension with the Lakers in August, pushing his career earnings past $500 million and making him the highest-paid NBA player.

When his contract expires, he will be 42. Undoubtedly, he will want to push to see if he can play with his youngest son, Bryce. Whether he will achieve that goal or if Father Time will finally win against his biggest foe in NBA history remains to be seen.

Either way, LeBron has positioned himself to take exceptional care of his family and provide financial opportunities for those around him.

LeBron James - Legacy Unmatched!