How Celebrities Manage Their Money

LeBron James: Multi-asset Investment

As a successful investor, LeBron does not rely on his salary or commercial activities incomes like most other NBA players. He tries to invest in different fields such as marketing, sports supplies, software, earphones and bicycles, and earns a lot from it. He will never miss any to invest.

In 2006, LeBron has founded his own marketing company LRMR, whose name derives from the first capitals of four persons: LeBron and his three childhood friends. LeBron had invested in Beats and became its shareholder. And after Apple purchased Beats for $3 billion, he earned $30 million from the investment, which surpassed his annual income as a player.

LeBron cares not only about those “fast money”, but also about “potential opportunities”. In 2011, he made a deal with Fenway Sports Group, and become a shareholder of Liverpool FC. Reportedly, that investment in Liverpool FC increased by 25% in three years, brough LeBron a new opportunity to broaden his business landscapes in Asia, since Liverpool owns a large number fans in Asia.

LeBron James believes that he should not trap himself in his own field. He should invest in multiple fields for long-term incomes.

Danica Sue Patrick: Hiring Personal Financial Advisor

Danica Sue Patrick is very famous in America’s car-racing world. She’s so talented in car-racing that even some of the male racers can not compete with her. She won the bronze Atlantic Championship when she was 19, and became the first female racer champion of IndyCar Series in American history. According to Forbes, Patrick’s total income in 2015 reached $15 million, ranking at No.5 of the world’s highest-paid female athletes.

The female racer admitted that she didn’t have time and specific knowledge to manage her income. Therefore, she hired two personal financial advisors to monitor her inflows and outflows of money, and to assist her on her investment. As Patrick said, “My financial advisors manage all my money, expect for my daily payments.”