LeBron James owns 19 Blaze Pizza franchises nationwide and his $1 million investment could now exceed $50 million.
Some people can just touch something and turn it into gold. LeBron James turns grands into millions. Coming into the league for his 20th NBA season, the legendary NBA player isn’t just at his best on the court.
Off the field, he’s made himself just as big. By chasing his idol Michael Jordan outside of basketball, The King made himself a billionaire this year, becoming only the fifth athlete in the world to reach that mark.
All of his older investments helped him reach that number, along with his largest and most valuable holding in the Spring Hill Company. One of them, a pizza company he invested his NBA earnings in in 2012, has brought him in about 50 times that amount.
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Blaze not only served LeBron James his favorite pizza, it served him millions of dollars on a plate
In July 2017, ESPN.com’s Darren Rovell reported that the then-Cavaaliers star had won at least $25 million for his roughly 10% stake in the nationwide chain, Blaze Pizza. James had almost a million invested when Blaze just launched in 2012. Now he owns at least 19 restaurants across the country. forbes named Blaze Pizza the “fastest growing restaurant chain in the US” in 2017.
– Bleacher Report (@BleacherReport) July 11, 2017
According to Rovell, Blaze Pizza then sold part of the company to a private equity firm, valuing the company at $250 million. The estimate was that James’ financial holdings could also increase to $35 million or $40 million if he receives endorsement payments as part of his deal.
By 2020, his stake in the company had grown to $40 million, according to an article mashed. Without up-to-date records of the company’s valuation, a profit of $15 million in 3 years between 2017 and 2020 could mean growth of at least $10 million over the last 2 years.
This is nothing short of insane. Making $50 million on less than $1 million in just 10 years is as good as it gets. This tremendous earnings along with all of his other investments, endorsements and businesses made the Lakers superstar the first active athlete to make it into the billionaire category.
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