LBJ $30 Million Richer Thanks to Beats by Dre Sale

According to a recent report, Lebron James acquired $30 million in stock and cash after the Beats by Dre sale by Apple. While James’ share in the Beats by Dre company is undisclosed, he has reportedly raked in 1% of the $3 billion sale of the headphone and music streaming company. Iovine and Dre gave James prototypes of the Beats headphones back in 2008, prior to the 2008 Olympics in Beijing. Lebron James was given a share in Beats by Dre in exchange for promoting the headset. The deal is being dubbed “the biggest equity cash payout for a professional athlete in history”. Last year, James and Dr. Dre appeared on the cover of the February 2013 issue of ESPN The Magazine. During the interview, James explains why Dr. Dre’s “Still D.R.E.” is one of his favorite songs from the legendary producer/rapper: