Before he started making millions as the CEO of Klutch Sports, Rich Paul and his best friend Edward Givens made money at a casino in a park. During Rich Paul: The 60 Minutes Interview, Paul revealed how much he made between the ages of 14 and 16.
Bill Whitaker: “And how much would you earn?”
Rich Paul: “I mean, a slow day was $1,000.”
Bill Whitaker: “And a not-slow day?”
Rich Paul: “Ah- you know, $4 or 5.”
Bill Whitaker: “$4,000 or $5,000.”
Tragedy struck, though, when Paul was 19 years old, as his father, “Big Rich,” passed away due to cancer. It led to the teenager resorting to selling marijuana and crack cocaine on the streets. Crack was what his mother was hooked to, and Paul would only sell it after his father’s death.
Rich Paul: “The absence of my dad allowed me to—to take that step, because I woulda never done that had he been around. I had too much respect for him. And it’s not somethin’ that I would sit here and– and glorify.”
Bill Whitaker: “It almost sounds like you were a full-time hustler.”
Rich Paul: “Oh yeah. But Jeff Bezos is a hustler. Think he’s not? Phil Knight was the ultimate hustler. The difference is they could go with their plan and their business idea and get someone to believe in them. It didn’t matter what idea I had. There’s no pathway to get there.”
It was a fair point. Paul could have the greatest idea ever, but he had no means to execute it. He had to do what he had to do and didn’t try to glorify that life. Fortune would smile at him a few years later, though, as he crossed paths with one LeBron James.
“He found one through a stroke of luck. At the Akron-Canton Airport in 2001, Paul was wearing a throwback jersey – like this one – that caught the eye of another traveler: high school hoops sensation LeBron James.”
A chance meeting changed Paul’s life forever. The two men bonded that day over their shared love for throwback jerseys and years later, LeBron hired him as his agent.
Rich Paul Was Paid Nearly $50,000 A Year By A Teen LeBron James
Paul was a part of LeBron’s inner circle by the time the teenager got to the NBA in 2003. They had gotten very close, and such was his belief in his friend, that LeBron paid Paul $48,000 a year.
“I used to style LeBron his rookie year,” Paul said, per Tania Ganguli of The New York Times. “I could be anything. I could be a stylist, music executive, coach.”
“Mr. James was a teenager when he met Mr. Paul, who had a jersey resale business sometimes run out of the trunk of his car. Soon, Mr. James was paying him $48,000 a year, confident Mr. Paul was worth the investment.”
Paul had criticized freeloaders who hang around NBA players and said they must provide some value to the athlete. In Paul’s case, he would style LeBron’s hair, be his stylist, coach, and whatever else.
After years of playing these kinds of roles for his friend and working under top agent Leon Rose, Paul would become James’ agent in 2012. He founded the Klutch Sports Group and has gone from strength to strength since then.
Draymond Green Explained Why Rich Paul Is Special
While LeBron remains his biggest client, many NBA stars have enlisted his services over the years. One of them is Draymond Green, who signed with Klutch Sports in 2019.
Green stated that Paul is special, as most other agents treat athletes as if they work for the agent. He praised Paul for teaching him about the multi-billion-dollar business that players just never understand.
Paul helped Green land a four-year, $100 million deal this offseason and the Golden State Warriors star is extremely happy to have associated with him. By sealing this deal for Green along with a few others, Paul has ensured that his clients are earning just over $500 million combined in the 2023-24 season, as per HoopsHype.
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