Is King Lebron the next Oracle of Omaha?

A few months back, I wrote, with some scorn, about Brad Duke, an Idaho aerobics instructor who won $125 million and now thinks he can parlay that into $1 billion in 12 years. Duke, who insists he won the lottery because of an elaborate mathematical strategy he developed (for those who are interested, I have Enron shares for sale), is extremely unlikely to end up a billionaire. I would say that there's a good chance he'll give up a good chunk of his lottery payout.

Now comes Lebron James, the 6'8" Cleveland Cavaliers star, saying that he wants to be the first billionaire athlete (although his agent qualified that by saying that that amount would include the value of brands associated with his name that he does not own directly). Lebron just might have a shot. He signed a $90 million endorsement deal with Nike right after he was drafted out of high school, and has numerous other deals. He agreed to an $80 million extension with the Cavs last summer and, best of all, he has a great business hero: Warren Buffett. Last September, Lebron traveled to Omaha to dine with Buffett and the two have become fast friends.

Since then he bought a stake in Cannondale, a privately held line of high-end bicycles, and he also made a number of investments in start-ups and, of course, real estate.

So, does Lebron have a chance? I'd say he has an excellent chance. His willingness and desire to learn from the best, combined with the drive and determination that he's exhibited on the basketball court, are two of the most important characteristics of successful entrepreneurs and investors.

At the very least, I will bet that Lebron ends up a lot richer than Brad Duke.