LeBron James Didn?t Pay For Vast Majority of ?His? School or ?His? College Scholarships
outkickthecoverage.com ^ | 8-8-2018 | Clay Travis
Posted on 8/9/2018 8:15:07 AM by boycott
Last week I was on vacation when news broke about ?LeBron James?s school? opening in Akron, Ohio. So I wasn?t on social media or watching much television. I did see that CNN sent Don Lemon for a sit-down interview with LeBron and ESPN sent Rachel Nichols for one and even the Wall Street Journal had a piece this morning about how amazing LeBron James is for paying for a school. Essentially every major media organization, and many of their employees, fell all over themselves to praise LeBron James as Mahatma Gandhi in sneakers.
So call me crazy, but I assumed LeBron James was funding the entire school in Akron all by himself.
This isn?t uncommon, plenty of rich people have founded entire schools and paid for all of their expenses.
So would it surprise you to find out that the city of Akron?s taxpayers are actually paying for 75-80% of the school and its yearly expenses? We?ll get to that in a moment.
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In fact, LeBron?s foundation, remember, it?s not LeBron himself, it?s his foundation, which solicits donations from other individuals and companies to do his charitable work, is only on the hook for $500,000 a year for the next several years. (Eventually it could climb to $2 million as the school grows, but that will still be a small part of the overall school cost at that point.)
According to Forbes Magazine last year LeBron made $85.5 million.
Even if we give LeBron credit for all of that yearly money coming out of his own pocket that means LeBron?s committing .0058 of his yearly income on ?his school.?
That?s the equivalent of someone making $50,000 a year donating $292 a year to charity.
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