LeBron James made $700 million on Beats by Dre investment: ex-teammate – Insider – INSIDER

Posted: May 1, 2020 at 7:48 pm

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LeBron James made $700 million through being a "silent investor" in headphones brand Beats by Dre, says the 35-year-old's former teammate Kendrick Perkins.

Perkins and James reached the NBA finals together while playing for the Cleveland Cavaliers in 2015, and have remained close friends since.

Speaking on "Runnin' Plays: A Golden State Warriors Podcast"on Tuesday, Perkins revealed James to be somewhat of a business mastermind, describing him as a "the chosen one" because of his enormous success in all ventures of life.

"The crazy thing to me about LeBron James is that he is the chosen one in life," said Perkins. "I tell him all the time 'I really hate you. I hate you!' And he'll be like 'What you mean, Perk?!''I hate you because everything you touch turns into gold!"

Perkins added: "He invested $4 million in a soccer team and all of a sudden he's worth $30 million. When Dr. Dre got the big contract for the Beats by Dre, when they wrote him that check, LeBron James got $700 million off of it. He was a silent investor in the Beats and nobody knows this."

According to Sportscasting, James partnered with Dr. Dre to become an ambassador for the brand in 2008, however ended up having part ownership of the company. It was reported by Bleacher Report in 2014 that James had made only $30 million from the partnership.

Insider has not independently confirmed whether or not James actually made $700 million from an investment in Beats.

"Even when we were gambling with playing cards, he would always win," Perkins concluded. "He really is the chosen one."

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LeBron James made $700 million on Beats by Dre investment: ex-teammate - Insider - INSIDER

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May 1st, 2020 at 7:48 pm

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