APPLETON, Wis. — Shaquille O'Neal, the towering NBA legend known for his dominance on the basketball court, has opened up about his rocky start in the world of investing, revealing that he frequently lost money in his early ventures. In a recent interview highlighted by Yahoo Finance, O'Neal shared how adopting a key principle from Amazon founder Jeff Bezos transformed his financial strategy, ultimately leading him to quadruple his net worth.
The 7-foot-1 former center, who retired from professional basketball in 2011 after a storied career that included four NBA championships and 15 All-Star selections, has since built an empire as a businessman and investor. According to the Yahoo Finance article published on October 15, 2023, O'Neal admitted that his initial forays into investing were marked by repeated failures. "I would lose almost every time," O'Neal said, reflecting on his early experiences.
O'Neal's path to investment success began after his retirement, when he dove into various business opportunities. He has invested in franchises like Papa John's and Krispy Kreme, and even owns a stake in the Sacramento Kings. But it wasn't always smooth sailing. The article details how O'Neal's enthusiasm often led him to back ideas without thorough vetting, resulting in significant losses.
The turning point came when O'Neal encountered advice from Jeff Bezos, the billionaire entrepreneur behind Amazon. Bezos's rule, as described in the piece, emphasizes investing only in ventures that have the potential to change people's lives. O'Neal recounted, "I adopted Jeff Bezos's rule," which he interpreted as focusing on transformative opportunities rather than fleeting trends.
By applying this principle, O'Neal shifted his approach. He began prioritizing investments in companies and technologies that could have a broad, positive impact. This strategy paid off handsomely, with O'Neal claiming it helped him quadruple his wealth. Forbes estimates his current net worth at around $400 million, up from earlier figures post-retirement.
In the interview, O'Neal provided specific examples of his investment journey. He mentioned an early flop with a tech startup that promised revolutionary fitness tracking but failed to deliver, costing him millions. "That one hurt," O'Neal reportedly said, according to Yahoo Finance. However, successes like his involvement with Google before its IPO in 2004 showcased his growing acumen.
O'Neal's story resonates in the broader context of celebrity investors navigating the high-stakes world of finance. Many athletes, after earning massive salaries during their playing days—O'Neal's career earnings topped $292 million—struggle with post-retirement investments. Financial advisors often warn of the pitfalls, including scams and poor advice.
Experts quoted in the article praised O'Neal's evolution. Financial analyst Sarah Thompson, interviewed by Yahoo Finance, said, "Shaq's adoption of a disciplined rule like Bezos's shows the value of strategic focus in investing." Thompson, who has advised high-net-worth individuals, noted that such principles help mitigate risks in volatile markets.
Not all perspectives align perfectly, though. Some critics argue that O'Neal's success stems more from his celebrity status than any single rule. According to a separate commentary referenced in related Yahoo reports, business consultant Mark Rivera suggested that O'Neal's brand opens doors that ordinary investors can't access. "It's not just the rule; it's the Shaq factor," Rivera said.
O'Neal himself acknowledges the role of learning from failures. In a 2022 podcast appearance, he expanded on similar themes, saying he studied business books and sought mentorship from figures like Bezos and Magic Johnson. The Yahoo article ties this back to his quadrupled wealth, estimating that his portfolio grew from about $100 million in the early 2010s to over $400 million today.
"I would lose almost every time when I invested," O'Neal told the interviewer. "Then I adopted Jeff Bezos's rule and I quadrupled what I'm worth."
This quote encapsulates O'Neal's narrative of resilience. The article also delves into Bezos's original philosophy, drawn from his 2016 letter to shareholders, where he emphasized long-term thinking and customer-centric innovation. O'Neal adapted this to his investments, focusing on scalability and societal impact.
Beyond personal finance, O'Neal's story highlights trends in athlete entrepreneurship. Since retiring, he has launched Shaq's Fun House events and invested in esports. In 2019, he joined the board of Papa John's during a turbulent period for the company, helping steer its recovery. These moves, guided by his adopted rule, have contributed to his financial growth.
Looking ahead, O'Neal shows no signs of slowing down. He recently announced plans to expand his Big Chicken restaurant chain, with locations opening in Las Vegas and other cities. Investors and fans alike will watch to see if Bezos's influence continues to shape his decisions. As markets fluctuate, O'Neal's journey serves as a reminder of the power of adaptive strategies.
The implications extend to aspiring investors everywhere. Financial educators point to O'Neal's experience as a case study in perseverance. While not everyone can quadruple their worth overnight, adopting principled approaches—like vetting opportunities for real-world impact—can lead to better outcomes. O'Neal's tale, from losses to triumphs, underscores that even legends must evolve to win off the court.