LeBron James credits Jay-Z for teaching him how to move in the business world, now they are both billionaires

Jay-Z helped LeBron James succeed in the business world.

Jay-Z is a mogul. His music career has been only a launchpad for the rest of his success. Make no mistake, he hasn’t skipped a beat since releasing his debut album in 1996. His July residency in Brooklyn, NY, reportedly generated more than $100 million, according to Forbes.

Ownership has played a major role in building Jay-Z’s $2.8 billion net worth, per the outlet. He co-founded Roc Nation in 2008 and serves as chairman of the entertainment company that focuses on artist management, music publishing, touring, production, and strategic brand development, as AFROTECH previously reported.

He also has a stake in music platform Tidal and the 40/40 Club sports bar. Additionally, he sold his 50% stake in Armand de Brignac spirits to LVH in 2021 and a majority of his stake in D’Usse cognac to Bacardi in 2023. Forbes credits his business footprint in the liquor sector for doubling his fortune.

A co-founder of MarcyPen Capital Partners, his firm reportedly manages nearly $1.1 billion in assets, Beauty Independent reports.

During the CNBC Sport x Boardroom Game Plan Summit at Fanatics Fest NYC, NBA great LeBron James recently spoke about Jay-Z’s business success, describing it as a benchmark. He pointed to two formative encounters, including meeting Jay-Z as a rookie while the rapper was on tour in New York ahead of what ultimately became the canceled Rucker Park game in 2003. James said he and his crew observed how Jay-Z carried himself.

“…We really just watched Jay and how they moved and how he moved, and it was like a sponge. We didn’t say much. We didn’t ask for much. We just sat there. He moved how a person that knows who he is, and what he brings to the table, is supposed to move,” James said, according to OkayPlayer. “And from the business side, to the way he talked, to the way he greeted people. It was just an aura about him and a professionalism in his respective genre that we all kind of learned, and we all kind of took to this point now.”

James continued, “I say [Michael Jordan] was my biggest inspiration as far as basketball, but I never got an opportunity to hang with him or talk to him or whatever. But Jay is like my big brother. He’s the one who’s given me so much game and has taught me so much. I’m always thinking about him any time I’m doing something business-wise or making a decision or whatever, thinking like, is this going to make him proud? Because he gave me so much game as a 16-year-old kid.”

That kid from Akron, OH, who grew up in the projects became the first active NBA player to reach billionaire status, as AFROTECH previously told you. Forbes reports he has earned more than $1 billion before taxes through endorsement deals, including Nike, and business ventures. He also has $581.4 million in career earnings (at the time of this writing), according to Spotrac.

James has stake in companies including Goalsetter, Coinbase, Robinhood, and Postmates, as well, per AFROTECH.

He is also the co-founder of The SpringHill Co. The entertainment company creates content for television, film, and digital platforms and was launched alongside his business partner, Maverick Carter, as mentioned on LinkedIn.

James additionally launched LRMR Ventures, a venture capital firm that targets opportunities in technology, sports, and culture.

He has a net worth of $1.4 billion, per Forbes.

The post LeBron James Credits Jay-Z For Teaching Him How To Move In The Business World, Now They Are Both Billionaires appeared first on AfroTech.

The post LeBron James Credits Jay-Z For Teaching Him How To Move In The Business World, Now They Are Both Billionaires appeared first on AfroTech.