Shaquille O’Neal’s net worth skyrocketed after he adopted Amazon founder Jeff Bezos’ investment philosophy. The NBA legend and business mogul says the ‘change people’s lives’ approach helped him multiply his wealth fourfold.
In a July 2019 interview with The Wall Street Journal, O’Neal recalled Bezos’ words:
“He makes investments based on if it’s going to change people’s lives.” O’Neal said. “Once I started doing that strategy, I think I probably quadrupled what I’m worth.”
O‘Neal on Jeff Bezos 📈
— urbanwallet (@urbanwalletco) January 11, 2020
Credit: @allaroundbusiness pic.twitter.com/yHBsAZGk3v
That mindset led four-time NBA champion to early stakes in Google, Apple, car washes, and Las Vegas nightclubs, according to AOL. One of his biggest wins? Home security company Ring. After using the product himself, he saw its potential and invested. That decision paid off when Amazon acquired Ring for $1 billion in 2018.
O’Neal once owned 17 Auntie Anne’s pretzel franchises but sold them off after realizing they didn’t align with his values. Krispy Kreme, however, remains a favorite.
“I was introduced to it in college and have been in love with it ever since,” he said.
As of today, Dr. Shaquille O’Neal, Ed.D. is the joint owner of 155 Five Guys Burgers restaurants, 17 Auntie Annie's Pretzels restaurants, 150 car washes, 40 24-hour fitness centers, a shopping center, a movie theater, and several Las Vegas nightclubs. pic.twitter.com/inEJF2oH1m
— MoorInfo (@MoorInformation) July 12, 2019
His biggest miss? Starbucks. When Howard Schultz pitched him on a deal, O’Neal turned it down, thinking:
“Black people don’t drink coffee.” He said. “I was wrong.”
The mistake cost him millions, proof that even savvy investors don’t always get it right.
Shaquille O’Neal has built an empire
Shaquille O’Neal is one of the wealthiest athletes in history, with an estimated net worth of $500 million, per Celebrity Net Worth. His fortune started in the NBA, where he earned $286 million in salary alone, according to Spotrac.
Drafted No. 1 overall by the Magic in 1992, Shaq quickly became one of the league’s most dominant big men. In 1996, Jerry West overhauled the Lakers’ roster to sign him to a then-massive seven-year, $120 million deal.
The former Lakers legend later inked an $88 million extension, leading the Lakers to three straight titles and Finals MVPs. In 2005, he signed a five-year, $100 million contract with the Heat. Despite retiring over a decade ago, Shaq still ranks ninth in all-time NBA salary earnings, according to Clutch Points.
One of his earliest investments was in Google, per TechCrunch. He’s been a staple on TNT’s Inside the NBA for nearly two decades, recently securing a $15 million annual extension. Although TNT lost NBA rights, the show is set to move to ESPN.
Now the president of basketball operations for Reebok, Shaq recently signed LSU star Angel Reese to the brand’s first major NIL deal.
READ: Inside NBA star LeBron James’ $101M Contract Details with the Lakers in 2025
I am a writer passionate about telling the stories behind the game of basketball. From the culture and personalities shaping the sport to the moments that define it, I explore basketball beyond the box score.
