Shaquille O’Neal has made a remarkable transition from his illustrious sports career to becoming a successful business entrepreneur, with a portfolio estimated to be worth around $500 million.
What Happened: O’Neal’s path to financial prosperity was not without its challenges. The four-time NBA champion confessed to making several financial blunders at the start of his career, often being lured into quick-rich schemes without adequate scrutiny.
“From like 19 to 26, anybody could come to my office, tell me that deal and I would take it right away. No research, no due diligence. If I get your million now, in a couple years, it will be a couple million. I’ll do that deal. Because I was trying – but you know, once I stopped focusing on that, I started paying attention and looking at things, I became a little bit more successful,” O’Neal revealed during an interview with CNBC.
Also Read: Shaq Accidentally Invested $250,000 In This Company, Now Its Value Is Skyrocketing: ‘My Only Regret, I Wish I Would Have Bought More’
“Hey, give me a million, and in about three years, it will be 10 million. Deals like that I would take every time. Give me 10 million. Investments in this company. Four years, it will be worth 300 million. You can get me like that, he told the outlet.
O’Neal’s financial perspective took a turn at the Consumer Electronics Show in Las Vegas, where he was inspired by Amazon’s Jeff Bezos emphasizing the significance of investing in products that enhance people’s lives.
This counsel struck a chord with O’Neal, prompting him to alter his investment approach.
Today, O’Neal’s business portfolio boasts successful investments in tech giants like Google and Ring, in addition to fast food chains, apps, and footwear brands. His primary focus is on enhancing people’s everyday lives, irrespective of the expense.
Why It Matters: O’Neal’s initial career missteps are a common occurrence among young athletes who often lack the financial knowledge to make informed investment decisions.
His advice to them? Quit pursuing quick profits, start educating yourself, and take your time.
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