Samsung endorser LeBron James made a reported $30M from Apple's Beats buy
According to a report on Wednesday, Basketball superstar LeBron James saw a $30 million windfall on his small stake in Beats Electronics after Apple acquired the headphone maker for $3 billion in May.
Citing sources familiar with the matter, ESPN claims James struck a deal in 2008 to promote Beats' headphones in exchange for a small interest in the then-fledgling company. While the exact details are unknown, James' share of the firm netted him over $30 million in cash and stock when Apple purchased Beats Electronics and Beats Music for $3 billion last month.
According to the publication, the Miami Heat cager was in the process of finalizing the details of the payout in his off-court time during the NBA Eastern Conference finals, the tail end of which coincided with Apple's Beats announcement. The approximately $30 million sum is thought to be the largest equity cash profit ever for a pro athlete.
In a statement last week, Beats said they plan on using James in future ads despite his ties with Apple rival Samsung, though Apple has yet to weigh in on the matter. The NBA star has been featured in a number of Samsung ad campaigns including a cameo in last year's "The Next Big Thing" Super Bowl TV spot.
Most recently, James showed up in Beats' World Cup ad, which featured Brazilian soccer star Neymar da Silva Santos, Jr., better known as "Neymar Jr." As one of the first commercials to air after Apple's buyout, the spot showed the company's headphones attached exclusively to Apple devices, including the iPhone 5s.
Citing sources familiar with the matter, ESPN claims James struck a deal in 2008 to promote Beats' headphones in exchange for a small interest in the then-fledgling company. While the exact details are unknown, James' share of the firm netted him over $30 million in cash and stock when Apple purchased Beats Electronics and Beats Music for $3 billion last month.
According to the publication, the Miami Heat cager was in the process of finalizing the details of the payout in his off-court time during the NBA Eastern Conference finals, the tail end of which coincided with Apple's Beats announcement. The approximately $30 million sum is thought to be the largest equity cash profit ever for a pro athlete.
In a statement last week, Beats said they plan on using James in future ads despite his ties with Apple rival Samsung, though Apple has yet to weigh in on the matter. The NBA star has been featured in a number of Samsung ad campaigns including a cameo in last year's "The Next Big Thing" Super Bowl TV spot.
Most recently, James showed up in Beats' World Cup ad, which featured Brazilian soccer star Neymar da Silva Santos, Jr., better known as "Neymar Jr." As one of the first commercials to air after Apple's buyout, the spot showed the company's headphones attached exclusively to Apple devices, including the iPhone 5s.
Comments
He was bought to advertise, the same way he did with Beats.
Sell out. I bet he uses an iPhone.
Someone will have to bear responsibility for this Beats non-sense. If Tim thinks that Apple users will rush to buy overpriced streaming subscriptions to add to the pool of the existing 110k Beats customers, he is deeply mistaken. I am thinking Cook is going out in 2-3 years.
New batch of FUDge, eh?
Great, so people who were willing to whore themselves out to Samsung, are now also going to be promoting for Beats, which is now Apple owned?
Yeah, go ahead, tell me how Apple can do no wrong, and tell me how this Beats deal is great for Apple. Like I said before, it's not just about the damn money. Tell me why I should feel that this news is positive? I think that it stinks.
I don't want any fake, clueless mofos to be getting money from both Samsung and Apple. They can go and screw themselves.
Apple is acquiring a company that apparently does not share the same philosophy that Apple has always had. Apple doesn't need any damn sports stars or sports celebrities to promote their products, and I find it ridiculous that somebody is making off with millions after being a paid shill for Samsung.
This is the kind of people that Apple wishes to be associated with? What crap.
Replace the word "endorser" with "paid shill" and you have the truth.
He was bought to advertise, the same way he did with Beats.
Sell out. I bet he uses an iPhone.
I know, it is terrible. I also heard he accepts money and gets *paid* to play basketball instead of doing it for the love of the sport. What a sell out.
When he plays a game, does he get paid by both his team and the team that he's playing against?
He should stick to throwing balls through hoops, because Apple has no use for his talents, in my opinion.
We got to like some of that stuff every once in a while.
Someone will have to bear responsibility for this Beats non-sense. If Tim thinks that Apple users will rush to buy overpriced streaming subscriptions to add to the pool of the existing 110k Beats customers, he is deeply mistaken. I am thinking Cook is going out in 2-3 years.
You have no fucking clue what you're talking about, do you? I'm making a mental note these days to check what headphones people are wearing around me. Whether in the gym in malls, coffee shops, on the road, etc- the ratio I'm seeing is seriously 70% beats headphones, 25% Apple, and the rest everything else. Yes, whether you like it or not, Beats are extremely popular and mainstream. WIth the Beats purchase, Apple now OWNS the headphone market, which means they can do very interesting things in the future (ie. transitioning to lightning headphones would be much easier). Many things about this deal make sense from multiple angles.
This WWDC showed us Apple at its best with a myriad of stunning announcements. Apple's performance has been stellar the past couple years. But that has nothing to do with Cook, right? You're so fucking obsessed with the Beats deal, its like nothing else exists anymore. Grow the **** up.
Someone will have to bear responsibility for this Beats non-sense. If Tim thinks that Apple users will rush to buy overpriced streaming subscriptions to add to the pool of the existing 110k Beats customers, he is deeply mistaken. I am thinking Cook is going out in 2-3 years.
So you can think?
T’anks a million, Fat’er Ireland. Craic and music from Apple in t’ future, s’posin’ they can shimmy their way outta the EU’s clutches firs’.
Do you have any Ireland-specific disparaging names for the Continent? I don’t remember any while I was over there.
Someone will have to bear responsibility for this Beats non-sense. If Tim thinks that Apple users will rush to buy overpriced streaming subscriptions to add to the pool of the existing 110k Beats customers, he is deeply mistaken. I am thinking Cook is going out in 2-3 years.
Don't quit your day job. Wall Street is 100% in favor of the purchase.
Don't quit your day job. Wall Street is 100% in favor of the purchase.
I guess you are one of the rare members of this forum who has a deep trust in Wall Street
It seems like this wise young man is quite the canny investor.
Someone will have to bear responsibility for this Beats non-sense. If Tim thinks that Apple users will rush to buy overpriced streaming subscriptions to add to the pool of the existing 110k Beats customers, he is deeply mistaken. I am thinking Cook is going out in 2-3 years.
I'm not saying that their service is better than others, but how is it overpriced when it costs the same??
People should be automatically banned for using that last phrase.
It's been around for almost 200 years, so I think they've been correct on many things, and have earned the trust of the masses.
I know that you're intelligent, but you must've been absent the day diplomacy was taught.
Great, so people who were willing to whore themselves out to Samsung, are now also going to be promoting for Beats, which is now Apple owned?
Yeah, go ahead, tell me how Apple can do no wrong, and tell me how this Beats deal is great for Apple. Like I said before, it's not just about the damn money. Tell me why I should feel that this news is positive? I think that it stinks.
I don't want any fake, clueless mofos to be getting money from both Samsung and Apple. They can go and screw themselves.
Apple is acquiring a company that apparently does not share the same philosophy that Apple has always had. Apple doesn't need any damn sports stars or sports celebrities to promote their products, and I find it ridiculous that somebody is making off with millions after being a paid shill for Samsung.
This is the kind of people that Apple wishes to be associated with? What crap.
Ok, so all celebrity endorsers are "whores"? Or just the "urban" ones? I've read a lot of your angry rants, but this barely-concealed coded racist language "This is the kind of people that Apple wishes to be associated with?" is much too much. There, I said it.