LeBron James has made a case for himself to be considered the GOAT on the basketball court. But even off it, he has reached the success that others can only dream of.
Despite not having much money growing up, LeBron James made his money multiply once he made it to the top. He is now a billionaire, and it’s worth looking into the advice fellow billionaire Warren Buffett gave him back in the day.
“’Through the rest of his career and beyond, in terms of earning power, [he should] just make monthly investments in the low-cost index fund,’ Buffett told CNBC in response to a video question posed by James. ‘Somebody in his position ought to have a significant cash reserve.’
“Buffett said James should keep it simple when investing. ‘Athletes generally tend to get promoted by people with restaurants and real estate. Everybody’s got an idea for him and, usually, the simplest is the best.’
“Buffett also said James should invest primarily in American companies. “Owning the United States at a decent average price bought over time, you really can’t go wrong with that.'”
LeBron James has seemingly followed a lot of this advice, his portfolio as a businessperson is incredibly diverse. He has also been involved with a lot of American companies and has been able to grow his wealth to an incredible level thanks to the same.
LeBron James Has Tripled His Net Worth Since Warren Buffett Gave Him This Advice In 2015
LeBron James has a business mind, and he is extremely cautious with his money as well. One could say that he was always destined to do well once he got a base of money to build upon. However, there are never any guarantees when it comes to business, and one wouldn’t discount that advice like this from one of history’s richest people wouldn’t help.
In 2015, when Warren Buffett gave him this advice, LeBron James was worth an estimated $320 million. As of 2022, Forbes reported that he had officially become a billionaire. This means that he grew his assets to triple the number they were when he got this message from Buffett.
That is a massive deal for LeBron, who has made it evident that his ambition is to buy and own an NBA franchise. That could be a possibility soon, and no one would bank against James tripling his wealth once more in another decade.
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