LeBron James banked $700 million from Beats by Dre as a 'silent investor'

Los Angeles Lakers star LeBron James is currently one of the most recognised faces in the NBA. The 35-year-old has also tasted his fair share of success in various ventures outside basketball. From his lifetime endorsement deal with Nike to his stake in English football club, Liverpool, LeBron James seemingly has an eye for investing in ventures with great potential.

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LeBron James endorsements: LeBron James Beats by Dre payout story revealed by Kendrick Perkins

LeBron James' former teammate turned NBA analyst, Kendrick Perkins shared a story of how James banked $700 million by simply being a silent investor in Beats (formerly known as Beats by Dr Dre). Kendrick Perkins was a guest on Runnin’ Plays: A Golden State Warriors Podcast where one of the topics he discussed was his relationship with LeBron James. The former Cavaliers star lauded LeBron James as 'the chosen one' and claimed James was fortunate with everything he did, be it on the court or outside.

“When Dr Dre got that big contract for the Beats by Dre when they wrote him that check LeBron James got $700 million. He was a silent investor in the Beats and nobody knows that!" Kendrick Perkins said on the podcast.

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Beats Electronics, which is currently owned by Apple Inc, was founded in 2006 by rapper Dr Dre. LeBron James was one of the first superstars to endorse the brand back in 2008. Sensing a business opportunity, LeBron James reportedly asked for a small stake in the company in exchange for endorsing their products. His stake ended up being a masterstroke as LeBron James banked a whopping $700 million when Beats peaked in the United States, per Perkins.

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Kendrick Perkins, who entered the NBA in the 2003 draft alongside LeBron James, further hyped up the Lakers star saying, "Even when we were gambling with playing cards, he would always win. He really is the chosen one.”

LeBron James endorsements

According to Forbes, LeBron James has endorsement deals with McDonald's, Blaze Pizza (investor), Coca-Cola and 2K sports. Apart from his endorsements, LeBron James has own marketing agency, LRMR Ventures, a Hollywood production company, SpringHill Entertainment and also co-owns a health and wellness company, Ladder, with Arnold Schwarzenegger, Lindsey Vonn and Cindy Crawford.

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