Shaquille O’Neal, a name synonymous with basketball dominance, has earned just as much respect for his business acumen since retiring from the NBA. His entrepreneurial journey is filled with intriguing anecdotes, highlighting both his initial misjudgments and his remarkable foresight.
During a 2018 appearance on ‘The Ellen Show,’ Shaq candidly shared two pivotal investment stories. The first, a tale of missed opportunity, involved Starbucks. When Starbucks’ then-CEO Howard Schultz proposed expanding into African-American communities, Shaq’s initial response was skeptical. He dismissed the idea, claiming, “Black people don’t drink coffee.” This misconception led him to decline what could have been a lucrative investment. Shaq’s own words echo the irony, “So now, every time I go to Starbucks, I see black people drinking coffee, I’m like… [he does a facepalm].”
In stark contrast, Shaq then recounted his successful investment in Google. He recalled a chance encounter at the Four Seasons Hotel in Los Angeles around 1993 or 1994. While essentially babysitting someone’s kids during a meeting, he was approached by the impressed parent who offered him an investment opportunity in Google. The parent explained the potential of this revolutionary search engine, stating, “In the future, you’re going to be able to type on your phone, search engine, this, do this, boom, boom, boom. You should invest.” Shaq’s decision to invest proved to be a wise one. Google, now rebranded as Alphabet Inc., boasts a current market cap of $1.973 trillion, cementing its position as the fourth most valuable company in the world.
This anecdote underscores the power of unconventional networking and the potential for significant investment opportunities in the tech world. Shaq’s Google investment marked the beginning of his successful post-NBA business career, setting him apart from the 65% of NBA players who reportedly go broke within five years of leaving the game. Earlier this month, the website CelebrityNetWorth estimated Shaq’s net wealth to be around $500 million. His investment portfolio includes stakes in various franchises such as Five Guys, Papa John’s, Krispy Kreme, and his own fast-food chain, Big Chicken. Apart from Google, other notable company investments include Ring video doorbell, later acquired by Amazon, and Apple.
Shaq’s story serves as a powerful reminder that business success often lies in recognizing opportunities, embracing calculated risks, and navigating the unexpected paths that lead to wealth and fulfillment. His journey from basketball legend to shrewd investor is a testament to the fact that success can be found in unconventional places, and that a willingness to learn and adapt is key to thriving in a constantly evolving business landscape.
