Not all investors and business people follow basketball, so you may or may not know who LeBron James is. For those who don’t know, he is the 22-year old “Michael Jordan” of the Cleveland Cavaliers. Just recently he took his team to the NBA Finals against the San Antonio Spurs. Cleveland was knocked out after 4 games, and the Spurs took the championship, but, don’t worry, I’m not going to write a play by play on my money blog. Instead, let’s talk about LeBron James some more.

He is perhaps one of the most business oriented guys in professional sports right now. Most athletes are happy with the millions upon millions of dollars.  LeBron James has set his sights a little higher.. well a LOT higher. He’s aiming to become the first professional athlete to be worth a billion dollars. How will he do this? Well it’s safe to say that even Michael Jordan with all of his sponsorships and product lines, not to mention the $300 and some thousand dollars he earned every game, has not yet reached the billion dollar mark. LeBron James understands that sports alone will not bring him to this goal. Instead he has turned to people like Warren Buffet for advice. He has a sizable amount of expendable income. Instead of just putting his money in the bank, James wants to invest in companies, businesses, and other endeavors outside of basketball.

I think he is definitely on the right track. I always wondered why more pro sports players didn’t invest their money and turn it into even more. Mr. James has obviously realized that it’s good to have eggs in more than one basket. And with the kind of money he is raking in constantly, he should have no problem diversifying his investments.

He actually met with Warren Buffet last year to discuss “business talk”. He even co-stared in a promotional short video in a mock basketball game with Buffet. Apparently the two have become more than just business aquantances. LeBron James is one smart guy. It will be very interesting to continue following not only his basketball career, but his business career as well.

Being originally from Omaha Nebraska myself, I’ve always been a Warren Buffet fan. Any story about Warren Buffet generally catches my attention. I’d sure like to the chance to have lunch with Warren Buffet!

Source: CNN