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America's New Multimillionaires

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Shaking up Tradition

NBA Star LeBron James was the top pick in the 2003 draft. In 2010, he signed a contract for a little less than $14 million with the Miami Heat. At 24, James endorses products for Nike Inc., Microsoft Corp., Coca-Cola. His seven-year deal with Nike is worth $90-million.

In 2005, James shocked the sports world by firing his agent, seizing control of his brand and recruiting his childhood friends, Maverick Carter and Randy Mims (shown here), to partner with him in building his own LRMR Marketing firm. Before making a drastic move James confided in his mentor, Warren Buffett, who advised him he should trust his gut. Today, LRMR is a contender in the marketing industry; it attracts millions of dollars in business.