What is so extraordinary about NBA players Shaquille?
He is one of the most well-known players in NBA history. But what makes the former NBA star special is that he has made more money off the court than on it.
Shaquille O’Neal has created a fortune as a businessman in the past 11 years. According to the latest estimates, Shaq net worth is about $400 million.
While playing NBA, he had a salary of $60 million.
Shaq studied business in college and actively utilized his intelligence to create a formidable business empire after he retired.
Shaq was a great basketball player, but how many ex-professional athletes do you know who own companies and successfully invest in multiple businesses after they retire?
Shaquille O’Neal owns many businesses, including restaurant chains, fitness centers and gyms, car washes, a movie theatre, and a shopping center.
At 50, the basketball Lakers legend who currently works as a sports analyst for a television program based on the NBA is not stopping.
Let us learn more about his net worth.
Shaquille – Early Life & Career
“Excellence is not a singular act, but a habit. you are what you repeatedly do”
― Shaquille O’Neal Quotes
Born in Newark, New Jersey, in March 1972, Shaquille O’Neal had a difficult childhood.
The atmosphere of his home wasn’t particularly amiable. His father was a drug addict and subsequently got imprisoned for possessing drugs.
On getting released from prison, he forfeited Shaq’s parental rights to his stepfather, Phil Harrison.
The local Boy’s and Girl’s Club in Newark became Shaq’s haven as he would concentrate on his game and play basketball daily. The club kept him away from the streets filled with crime and notoriety.
Shaq joined his high school basketball team where he led the team to a record 68-1 for two years.
He then led his team to win a state championship in his senior year. Once he passed the school, Shaq started playing for the Lousiana State University Team, where he won many accolades and recognitions.
Shaquille O’ Neal’s NBA career began with Orlando Magic. He performed so well in the first season that he won the Rookie of the Year award.
He then played for Orlando Magic on a three-year contract for fifteen million dollars. After the three-year period ended, Shaq switched over to Los Angeles Lakers.
The rest is history as the NBA star got bigger and bigger and subsequently played for teams like Miami Heat and Boston Celtics.
Shaq retired from professional basketball in 2011 as one of the richest NBA celebrity of all time.
Key Highlights of his Professional Basketball Career:
- 15 Time NBA All-Star
- Three-time Finals MVP
- Two-time Scoring Champion
- All-Rookie First Team NBA, 1993
- Olympic Gold Medalist, 1996
Shaquille O’Neal as a Businessman
After retiring from professional basketball with the Lakers team, Shaq the mega-celebrity utilized new ways of creating earnings.
He got into franchising, films, television, and even DJing. He is one of those entrepreneurs whose business portfolio keeps on expanding.
You can’t keep a tab on how many companies he owns or has invested in!
Shaq never flaunts his business assets. He quietly and solidly works in the background. The NBA star carefully evaluates the potential of a business idea, then chalks out a plan and implements that.
Shaq is also a mentor to rising entrepreneurs, more than just a celebrity. He addresses aspiring entrepreneurs at various events and meets.
This is a great inspiration that could push people away from the million salaries Jan lottery to real business opportunities.
One of the famous things about Shaq’s business strategy is that he never invests in a product he can’t see himself using. That’s the reason he famously turned down Starbucks’ offer for investment.
Shaq Net Worth: What Is Shaq’s Celebrity Net Worth?
Shaq’s celebrity net worth is estimated to be $400 million. Shaq started his career as a basketball player and then transitioned into acting and broadcasting.
He has won multiple championships as a professional basketball player and was inducted into the Basketball Hall of Fame in 2003.
Shaq also has an extensive career in broadcasting, including working as an analyst for TNT and NBA TV.
In addition to his successful career in sports, Shaq is well known for his philanthropy and activism.
How Much Did He Get Paid For The Movie Kazaam?
Shaquille O’Neal has confirmed that he was paid $7 million for his role in the new film Shazaam.
Not bad earnings for a film that was a flunk at the box office. This is a significant amount of money, and it’s clear that Shaq was well compensated for his time in the film.
The movie had a worldwide box office of $18.9 million!
Not bad for Sha, as the budget for the movie was $20 million.
He made a profit on the box office sales.
What Companies does Shaq Own?
Shaq owns at least 50 brands, as confessed by himself on a Reality tv show.
Let’s take a look at his businesses and franchises that earn millions upon millions of dollars a year.:
- Co-Founder Majority – In 2021, Shaq co-founded Majority, a new advertising agency in Atlanta, along with Omid Farhang. He plays an active role in the business of the Majority, taking a proactive interest in meetings and networking.
- Elvis Presley (comes under the Authentic Brands Group of which Shaq is the second largest shareholder).
- Marilyn Monroe (comes under the Authentic Brands Group of which Shaq is the second largest shareholder).
- J.C. Penney – He is the second largest investor in the Authentic Brands Group, the company that owns the likes of Forever 21, Reebok, J.C. Penney, Barneys New York, etc.
- Shaquille’s restaurant – This is Shaq’s restaurant situated in the heart of Los Angeles. One of the highlights of the menu is his signature fried chicken dish!
- The General
- Papa John’s (Franchising) – Shaq owns nine Papa John’s franchise units. He has been on the popular pizza brand’s board of directors since 2019 and is also their brand ambassador.
- Auntie Annie’s Pretzels (Franchising) – Shaq owns 17 restaurants of Auntie Annie’s Pretzels.
- Krispy Kreme Donuts (Franchising) – Shaq’s investment philosophy is simple. He invests in a product if he understands it and likes it himself, and sees it as useful for other people. He fell for the Krispy Kreme donuts while in college and the relationship blossomed into a franchise!
- 24-Hour Fitness (Franchising) – Under his partnership with the popular fitness chain, 24-Hour Fitness Shaq Sports Clubs are being run.
- City Plex 12 Movie Theatre – He co-owns and operates near Downtown, Newark.
- Shaq Tower- The 33-story residential tower in Newark was set up by Shaq in partnership with various public and private entities. The building was completed in June 2022. The Shaq tower is one of O’Neal’s dream projects. 20 percent of the apartments in the tower will be set aside for affordable housing.
- Big Chicken – The fast food restaurant chain was opened by Shaq in 2018.
- Car washes – At one point, Shaq owned 150 car washes or so!
- In 2004, Shaq launched his shoe brand known as SHAQ shoes. The brand sells basketball-style sneakers that are reasonably priced. SHAQ sneakers were officially launched in South Africa in December 2021.
Shaq also owned 155 Five Guys Burgers restaurants, but he sold these in 2016. He also held a minority stake in Sacramento Kings which he sold in early 2022.
His other business ventures include Gold Bond, Icy Hot, The General Insurance, and Lyft.
Shaq’s other investments and endorsements Earnings
- WynnBET – In 2021, Shaq became the new brand ambassador for WynnBET. Owned by Wynn Resorts International, WynnBET is a licensed sports betting product. The former NBA player will appear in the company’s advertising campaigns across print, television, and digital media. He also acts as a strategic advisor to WynnBET and creates content along with them.
- Google & Apple – One of Shaq’s most famous investments to date is the one he made in Google back in 1999. He invested in the company at a time when it was valued at $100 million. Legend has it that Shaq was babysitting another guest’s children at the Four Seasons Hotel in Los Angeles when the father of those kids invited Shaq to invest in Google. Since then, he has stated in many interviews that his only regret is not having bought more shares of Google in the 90s! Shaq also invested in Apple early on.
- Pepsi – Besides endorsing the brand, Shaq has also been involved with Pepsi to create grassroots programs tackling education, the environment, and other issues faced by local communities.
- Arizona beverages to create a low-calorie soda known as ‘Shaq soda’. He has also endorsed brands such as Comcast, Radio Shack, Taco Bell, Kraft Foods, Burger Kings, etc.
- Forto Coffee – In 2019, Shaq invested in Forto Coffee. He became an investor in Dyla Brands, the company that makes Forto Coffee. He also became the face of the coffee brand by signing a $20 million media campaign. Back in the 1990s, Shaq had reportedly turned down an offer to invest in Starbucks saying that black people don’t drink coffee and he had never seen anyone in his family consume it. The former NBA star is said to regret his decision to not invest in Starbucks to date.
- The Alkaline Water Company – Shaq became a part of the Board of Advisers of The Alkaline Water Company in mid- 2021. He owns 7 million shares of the company.
Top 5 products that Shaq endorsed
It won’t be an exaggeration to call Shaquille O’Neal the king of endorsements because of the sheer number of products he has endorsed.
Many of his endorsements have been from the food and beverage industry. His sports rockstar image coupled with his sense of humor and larger-than-life personality lends his signature style to any endorsement he makes
Let’s look at 5 of the most famous products endorsed by Shaq.
1 – Burger King
There was a time when the famous Shaq Pack advertisements were aired literally everywhere. In 2002, when the ex-NBA superstar began to endorse Burger King, its iconic Sourdough Bacon Cheeseburger Sandwich became a part of Shaq’s ‘signature pack’.
2 – Oreo
Shaq has been a major face for the Oreo brand as well. People who love these cookies can probably recall those advertisements featuring O’Neal.
3 – Nintendo DS Tomadachi Life
This popular children’s video game featured Shaquille O’Neal as part of the marketing campaign. The fans of the ex-NBA superstar could see him as an animated character in the game.
4 – Taco Bell
One of Shaq’s most iconic endorsements was for the famous fast-food chain Taco Bell. The hilarious and lovable commercial is perhaps still remembered by his fans and his endorsement helped the brand capture some serious market.
5 – Pepsi
Shaq’s fans probably still remember the Shaq Attaq Pepsi from the 90s. This iconic Shaq- inspired signature Pepsi still gets a lot of takers when it’s sold online. Shaq’s famous Pepsi commercial from the 90s is still fondly remembered by his fans where he plays the superhero on the basketball court as a young kid lovingly and admiringly handing him over a Pepsi.
What Entrepreneurs can learn from Shaq’s Net Worth Wealth?
1. Create something that’s going to change people’s lives
Shaq’s investment philosophy is inspired by that of Amazon founder Jeff Bozos. When Shaq makes an investment decision, he is not guided by the money factor.
Rather, he asks himself what change can this brand or product bring to the lives of people. Can it make them happy?
Can it bring some positive change in their lives? And only if the answer is yes, does he decide to invest in that brand.
Entrepreneurs can learn a lot from this approach. When you are creating a product for the market, think about how it can help the world. What problems can it solve? How can it transform people’s lives?
2. Bring your personal style to your brand
The products endorsed by Shaquille O’Neal are synonymous with his warm, infectious, and larger-than-life persona.
Well, not everyone has a presence like Shaq, but you must try to bring in a bit of your personality to your brand’s promotion and marketing efforts. As an entrepreneur, you must connect with the product at a personal level to make it work. And then be able to communicate that connection to your target customer base.
3. Do your homework
Shaq does his due diligence before making any investment decisions.
He researches the opportunities, learns about the market, communicates with experts, and takes all the necessary precautions to minimize the chance of failure.
As an entrepreneur, you must do your homework well before launching a product. Innovation is great, but it isn’t everything.
You require good market research combined with common sense to figure out what would work in a particular market and what won’t.
4. Learn from your failures
Shaq has confessed in his interviews that during his early days of investing, he often made rash decisions.
He now regrets some of the investment decisions he made back then. Shaq has even admitted to having fallen for a scam or two. But the important thing is he learned from his failures and continued to grow.
This is a crucial lesson for entrepreneurs. You must always probe beyond the surface and not fall for a prospective opportunity at face value.
But failure is a part of the game. You must not let fear of failure deter you, and continue to take calculated risks in business.
5. Look for ways to give back to society
Shaq is involved with many business ventures where he is giving something back to local communities that need support.
Make this a part of your core business philosophy, and you will never cease to grow.
What do you think about Shaq’s wealth? Does it inspire you? Have you learned of new ways that you can get to a higher economic level?
Were you shocked by Shaquille O’Neal’s net? Or did you think the worth of Shaquille O’Neal was higher? What did you think about his many endorsements?