If we talk about basketball and Shaquille O’Neal is the topic, the session would never run out of words. However, what is more interesting than his decorated basketball career is how beautifully Shaq has diversified his investment portfolio.
The ‘Big Aristotle’ retired from professional basketball in 2011. But there is no stopping from eying for the potential company in Shq’s eyes. The former Los Angeles Lakers champion has a larger-than-life personality, and on top of that, most of his fortunes come from his wise investments.
Shaquille O’Neal’s Business Portfolio
During a 2018 appearance on The Ellen Show, Shaq candidly shared the story of his “worst investment ever.” Howard Schultz, then-CEO of Starbucks, approached him with a proposal to open Starbucks stores in African-American communities. However, Shaq turned down the offer, mistakenly believing that “Black people don’t drink coffee.”
Looking back on the decision, Shaq humorously admitted, “So now, every time I go to Starbucks and see Black people drinking coffee, I’m like…” followed by a facepalm. Despite missing out on what could have been a lucrative opportunity, this experience taught Shaq the importance of questioning assumptions and keeping an open mind in business.
Looking back on the decision, Shaq humorously admitted, “So now, every time I go to Starbucks and see Black people drinking coffee, I’m like…” followed by a facepalm. Despite missing out on what could have been a lucrative opportunity, this experience taught Shaq the importance of questioning assumptions and keeping an open mind in business.
Like his furious NBA days, Shaq’s business ventures also have a unique story. The man who brings charm with himself got into one of today’s top technology giant companies. Shaq’s investment in Google turned out to be one of his greatest successes. He recalled meeting at the Four Seasons Hotel in Los Angeles in the early 1990s.
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While he was babysitting someone’s kids during a business meeting, Shaq was offered an opportunity to invest in a company focused on changing the way people search for information. That company was Google, now Alphabet Inc., a tech giant with a market cap exceeding $2.33 trillion.
Shaquille O’Neal’s Investments
Shaq’s strategic investments extend far beyond tech. According to CelebrityNetWorth, his net worth is estimated at $500 million, thanks to an extensive and diverse portfolio. He knows how to put his money to work while he is sleeping.
Other than the tech stuff, Shaq has actively been venturing into food chains. He once owned 155 Five Guys locations, approximately 10% of the burger chain’s total outlets. He also has stakes in Papa John’s, Krispy Kreme, and Big Chicken, a fried chicken chain he co-founded. Shaq also has invested in properties in Orlando and Newark, leveraging the skyrocketing real estate sector to build his wealth.
Shaq has opened his new Big Chicken restaurant in New York's UBS Arena 🍗
— Front Office Sports (@FOS) November 15, 2021
An owner of several restaurant franchises, this is Shaq's first venture from scratch.
Asked if he'd compete with Popeyes, he said "absolutely, and we don’t run out of chicken– ever."
(h/t @JabariJYoung) pic.twitter.com/wzNBpdAgp9
Apart from that, O’Neal always has one eye on startups and growing companies. He made a good sum out of his investment in Google. And he almost replicated his investment in Ring, a home security company. He began with a practical purchase for personal use. Impressed by its quality, he reached out to the company’s CEO and became an investor. When Amazon acquired Ring for $1 billion, Shaq reaped substantial returns.
Over the years, Shaq has become a marketer’s dream. The former basketball big man effortlessly endorses brands like PepsiCo, Icy Hot, DraftKings, NBA 2K, and JCPenney. His larger-than-life personality and broad appeal have made him a people’s beloved marketing face.
Also Read: VIDEO: Shaquille O’Neal Hilariously Broke The Giant Video Board On Live TV During ‘Inside The NBA’
Shaquille O’Neal Outearned His NBA Career
During his illustrious basketball career, Shaq earned approximately $286 million in salary alone. Yet, in retirement, he has managed to outpace those earnings, reportedly making around $60 million annually through endorsements and business ventures. This achievement underscores his ability to transition from athlete to mogul seamlessly.
Shaquille O’Neal has achieved what few athletes manage to do. Over the years, he built a second act that rivals his first. It is hard to imagine a four-time NBA champion and three Finals MVPs becoming a household name in the business world. Although, Shaq has done such a phenomenal job with positioning him as the first preference for sports marketing. He has really cracked the code.
Shaq’s success stands out as a blueprint for long-term wealth creation in a world where 65% of retired NBA players reportedly face financial difficulties within five years. His story is a great reminder that if you know how to keep the money moving, you’ll never be thrown out.
