LeBron James Expands Billionaire Empire With Major New Investment in Southern California

LeBron James turned a family taco night into a viral content. He posted videos on Instagram shouting "Taco Tuesday!" that became such a fixture of his online brand that he later helped Taco Bell legally "liberate" the phrase from a rival chain's trademark in 2023. His love of tacos has now turned into an actual ownership stake in one of the category's fastest-growing brands.

James, per Sports Business Journal, has made an undisclosed investment in Mike's Red Tacos, the Southern California birria concept. It's preparing to open its first Los Angeles-area restaurant in Pasadena this fall. The company announced the partnership Tuesday, with James introducing the deal through a playful Instagram video filmed inside one of the brand's restaurants.

"Man, it feels good to say IT'S TACOOOOOO TUESSDAAAAAAYYYYY!!!" James wrote. "And it feels even better to celebrate with the @mikesredtacos family. Proud to be a part of it!!"

The Mike's Red Tacos deal is the latest addition to a restaurant portfolio James has been quietly building for over a decade. He first invested in Blaze Pizza back in 2012, not long after ending an endorsement relationship with McDonald's, and now controls Blaze location rights in both Chicago and South Florida.

He's also behind Buckets. A fried chicken restaurant operating inside the House Three Thirty community space run by his foundation in his hometown of Akron, Ohio. It has been publicly associated with Dave's Hot Chicken as well.

Mike's Red Tacos began as a single food truck in San Diego in 2021. It was founded by Mike Touma after he became captivated by the birria trend exploding on social media.

The brand built a devoted following through word of mouth well before opening its first physical location in August 2022. It now has more than 300 franchise locations in development nationwide across states including California, Michigan, Minnesota, Texas, Arizona and Illinois.

"Before anyone knew our name, before we opened restaurants, and before we ever talked about franchising, people were lining up because they loved the birria," Touma said of James' involvement. "Having LeBron believe in what we're building and invest in our future is an incredible honor and a powerful validation of our brand and vision."

James became the first active NBA player to reach billionaire status back in 2022. His wealth built through a mix of playing salary, endorsements and an increasingly diversified portfolio of business ventures spanning media, spirits, fitness and now multiple restaurant concepts.

James has slowed down his off-court ventures. He's preparing for his first season with the Philadelphia 76ers after leaving the Lakers.

Between this new stake in Mike's Red Tacos, his existing restaurant holdings, and other recent business ventures, including a newly signed individual partnership with prediction-market platform Polymarket, James continues building out a a life that operates independent of whatever his 24th NBA season has in store.