Former NBA player Shaquille O’Neal has seen a significant increase in his wealth, quadrupling his net worth through an investment strategy inspired by Amazon’s CEO, Jeff Bezos.
What Happened: In an interview, O’Neal disclosed that his investment choices are guided by their potential to positively impact people’s lives, a philosophy he adopted from Bezos.
O’Neal’s investments span a broad spectrum of industries, including Five Guys and Big Chicken restaurants, Carnival Cruise Lines, and 24 Hour Fitness. Earlier this year, he also joined the board of directors at Papa John’s.
The NBA Hall of Famer’s favorite investment is Krispy Kreme, where he owns multiple franchises. “Because I like donuts, and Charles Barkley loves donuts. He's my biggest customer,” O’Neal said while speaking with The Wall Street Journal.
Interestingly, O’Neal revealed that he declined offers from Wheaties twice, stating, “Frosted Flakes will always be my first option if you wanna talk cereal business with me.”
Also Read: Why Shaq Won’t Share His $500 Million Fortune With His Kids: ‘We Ain’t Rich. I’m Rich. I’m Not Going to Hand It to You, You Gotta Earn It’
"I heard Bezos say one time when he was talking, he makes his investment based on if it's going to change people's lives. And once I started doing that strategy whistles, I think I probably quadrupled what I'm worth now," O'Neal said.
Looking forward, O’Neal has ambitious plans that include becoming a sheriff, attending law school, opening his own law firm, and establishing a K-12 children’s school.
"My skill is if something comes across my desk and I don't believe in it, I won't even look at it. At all. It's just, one, I can't lie to the people, and two, yeah, it's a gut feeling," he added.
Why It Matters: O’Neal’s investment strategy, inspired by Bezos, highlights the importance of investing in ventures that have the potential to change people’s lives.
His diverse portfolio, including fast food, fitness, and cruise lines, demonstrates the value of diversification in investment. His success serves as a testament to the potential of strategic and thoughtful investment decisions.
Furthermore, his future plans indicate a commitment to public service and education, reflecting a broader vision beyond just financial success.
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