Part 4/9:
In 2006, LeBron founded LRMR Ventures with childhood friends, which has since played a crucial role in all of his business endeavors. The firm has focused on securing partnerships that offer equity, thereby allowing LeBron to have a stake in the companies he endorses.
One of their standout moments came in 2008 when LeBron opted for equity over cash with the Beats by Dre headphones. When Beats was sold to Apple for $3 billion in 2014, LeBron's initial stake earned him around $30 million. He opted for a similar strategy in the fast food sector, trading a $15 million endorsement deal with McDonald's for an under-$1 million investment in Blaze Pizza, which blossomed into an estimated $40 million by 2023.