LeBron James and billionaire Warren Buffett have been friends since 2007, when the NBA superstar agreed to appear in a skit at Buffett’s Berkshire Hathaway annual meeting.
Over the years, they’ve stayed in touch, with Buffett often praising James for his sharp business instincts despite his unconventional path, while James has openly sought financial guidance from one of the world’s most successful investors.
Speaking on CNBC’s “Squawk Box” in 2015, Buffett shared some of the financial advice he once gave his famous friend.
“I think somebody like LeBron, and we’ve talked about it — occasionally, I think through the rest of his career and beyond, in terms of earning power, then, just making monthly investments in low-cost index funds makes a lot of sense. I think that somebody in his position ought to have a significant cash reserve, whatever makes him comfortable. And then beyond that, owning a piece of America, a diversified piece, bought over time, held for 30 or 40 years, it’s bound to do well, and the income will go up over the years, and there’s nothing really to worry about,” said Buffet.
When it comes to investing, there is no better person to get advice from than Buffett, widely regarded as one of the most successful investors in history. He turned a struggling textile manufacturer into the conglomerate Berkshire Hathaway, which in 2024 became the first non-tech company to be valued at over $1 trillion.
As the largest individual investor in the company, Buffet has long been one of the richest men on the planet. In 2015, he ranked second behind Bill Gates, with a net worth of $62 billion. Currently, he has a net worth of $138.9 billion and is the 11th wealthiest person in the world.
“Athletes generally tend to get promoted by people with restaurants or real estate. I mean, everybody’s got an idea for them, and usually, the simplest is the best,” added Buffet. “I mean something like just owning the United States at a decent average price bought over time, you really can’t go wrong with that.”
Seven years later, James joined Buffet in the billionaire ranks. When Forbes analyzed his fortune, it reported that his stakes in SpringHill Company (valued at $300 million) and Fenway Sports Group (worth $90 million) were his two biggest assets, alongside roughly $500 million in cash and other investments.
It’s unclear whether his investment portfolio includes passive investments like index funds that Buffett suggested to him, as that financial information is private. However, James clearly took “Owning America” by heart. Not only has he invested in U.S. companies, but he has also consistently chosen to take ownership stakes rather than endorsement money in his business deals, seeking long-term rewards over short-term ones.
In 2014, Buffet admitted that he and James regularly exchange emails and that they can reply to one another in minutes. Again, it’s unclear whether they still communicate that way or exchange emails often, if at all. But as James said in 2014, his relationship with “Uncle Warren” continues to “grow and grow and grow on business and personal stuff.” So does James’ net worth.
This story was originally published by Basketball Network on Apr 5, 2026, where it first appeared in the Off The Court section. Add Basketball Network as a Preferred Source by clicking here.