Warren Buffett, 82, is the second-richest man in America, a person whose business acumen has been lauded the world over. Worth an estimated $46 billion, Buffett does not take his investments lightly, and he has taken an interest in 27-year-old James of the Miami Heat.
“You have to get to know him,” Buffett said, according to The Miami Herald. “LeBron’s not initially really talkative. He’s savvy. He’s smart about financial matters. It’s amazing to me the maturity he exhibits. I know that if I had been famous at that age, I would have had trouble keeping my feet on the ground.”
James has a net worth of $110 million and was the fourth highest-paid athlete in 2012,according to Forbes.com. Tiger Woods—who was listed at No.3—became the first athlete to earn $1 billion dollars, and James wants to be next. He certainly has people in his corner who know about accumulating wealth. Not many people can count Microsoft chief executive Steve Ballmer, Dallas Cowboys owner Jerry Jones and rap mogul Jay-Z as friends.
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James didn’t attend college, famously making the leap from high school to the NBA without missing a beat. That has had no bearing on his ability to make savvy business moves—and it doesn’t hurt to turn to Buffett for advice every now and then.
At the root of James’ place as the most bankable NBA player is his personality and prodigious talent. His first season with the Miami Heat, which ended in an NBA Finals loss to the Dallas Mavericks, resulted in a 17 percent increase in the Heat franchise’s value, pushing it to $425 million, according to Forbes. That number increased to $457 million after James’ second season in Miami, in which the team finished with an NBA championship win over the Oklahoma City Thunder. James also helped add $111 million to the net worth of team owner Micky Arison.
The best season of James’ NBA career did more than earn the NBA’s most recognizable player his first championship—it also added validation that only increases his earning power. James currently holds lucrative endorsement deals with Nike, Coca-Cola, State Farm, McDonald’s and Samsung, and the list is bound to grow. James’ most publicized venture was the deal with Fenway Sports Group that made him a minority owner in the British soccer team Liverpool.
But James made it known he will be selective in business moves, something he has already done with his pool of friends and advisors.
“I’ve got a lot going on right now,” James said. “I’m not looking for too many new opportunities—unless it’s a good one.”
From aol.sportingnews.com
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