Is LeBron great or LeBron is great? Putting on the accent won’t change anything. James has long established himself not only as an outstanding athlete, but has also created a business empire. According to Forbes, the King’s fortune exceeds one billion dollars. Learn first-hand the benefits of investment. The mere fact that Bron invests around $1.5 million a year into his health has already served as a catalyst for rare athletic longevity at the highest level. The basketball player’s scope of interests is very broad and bicycles are not the least of them.
Position and status allow James to invest in what he values and considers necessary. LeBron’s love affair with bicycles dates back to early childhood. Little Bronny (not the one you think of) grew up in a poor family and was raised by a single mother. Gloria James couldn’t afford much, so her son got used to pedaling from the crib. It was the easiest and fastest way to get to school.
Maverick Carter (left) and LeBron James (right), 2023/2024 season
Photo: Kevork Djansezian/Getty Images
LeBron did not graduate from college, so a regular school became a school of life for him. From there the roots of his circle grow and his entire royal army is connected to those times, which influences the subsequent success of his business. So, let’s get acquainted. Maverick Carter is a childhood friend who grew up with James and generates financial investment ideas. Rich Paul is another comrade from that green era. Paul and the King’s lebromance began with their meeting at the airport, when Rich was selling T-shirts out of the trunk of his beat-up car. Later, taking advantage of the “ceiling” of his star friend, he became a basketball agent and took half of the NBA market. For example, his clients include other friends of James: Anthony Davis and Draymond Green. Paul also won the heart of popular singer Adele. However, that is another story.
And finally, Brian Windhorst. No speculation, just facts. He attended the same school as LeBron, although he graduated seven years earlier. Covered the early career of the 2003 No. 1 overall pick, he landed the job in Cleveland when the Cavaliers selected James in that draft. He then worked for ESPN, covering Miami games when the King moved there. Windhorst even wrote a book with the catchy title “LeBron, INC.” The Athlete Who Made a Billion.” In fact, we learned an interesting case of how LeBron’s bike fund helped him make huge profits.
Naturally, the matter could not have happened without the aforementioned Maverick Carter, who also invested in the company. Initially, James was looking to collaborate with a large bicycle manufacturer. However, his business advisor, Paul Wachter, negotiated a better deal. He had connections with the investment company Pegasus Capital Advisors. This company acquired the bankrupt Cannondale holding company. When the organization began to recover losses around 2007, it was put up for sale. The watchman advised LeBron and Carter to buy the debts.
LeBron James with a bicycle
Photo: From LeBron’s personal archive.
You could say what kind of consultant this is who puts his colleagues in debt, but not everything is that simple. First, the friends studied everything carefully and then invested. The decision was beneficial for almost all parties. James’ colossal fame made it possible for Cannondale and Pegasus, Paul Wachter, Carter, and the King himself to benefit. After taking the cream, Maverick and LeBron sold the holding company to a large Canadian conglomerate in 2008.
From Windhorst’s book about James’ business ventures, it appears that Pegasus nearly quadrupled its investment, Carter earned a six-figure sum, and LeBron earned a seven-figure sum. James’s chief chronicler explained that the King’s investments through his foundation opened opportunities for collaboration with top-level firms. The parties organized charity bike rides, the goal of which was to raise funds to help the poor and single mothers of James’s home state of Ohio.
LeBron’s earnings are based on sound business principles. He believes in investing in products that align with his ideals and values. This entire cycling story was conceived with the goal of helping and influencing children. James wanted to have a positive impact on the youth of Akron. By gifting them with bicycles, he not only provided them with an efficient means of transportation but also encouraged them to lead an active lifestyle. Overall, another cool multiple move from the King, as on the ground. He helped children and earned money.
The basketball department of the “Championship” actively produces materials as part of current special projects: “The best games of the Russians in the NBA” and “Yegor Demin’s path to the NBA.” You can access the articles for these projects by clicking on the corresponding block below.
