- In a recent Wall Street Journal interview, the former basketball star and current angel investor Shaquille O’Neal said he “probably quadrupled” his net worth after adopting an investment strategy similar to Amazon founder and CEO Jeff Bezos.
- O’Neal’s personal investments include a 1999 investment in Google and a stake in Apple.
- He told The Wall Street Journal that he “heard Jeff Bezos say one time [that] he makes his investments based on if it’s going to change people’s lives,” and “once I started doing that strategy, I think I probably quadrupled what I’m worth.”
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There’s nothing average about the former basketball star turned angel investor Shaquille O’Neal. So when he says he “probably quadrupled” his net worth using a simple investing strategy, it’s worth paying attention to.
In a recent interview with The Wall Street Journal, O’Neal said: “I heard Jeff Bezos say one time [that] he makes his investments based on if it’s going to change people’s lives,” and “once I started doing that strategy, I think I probably quadrupled what I’m worth.”
That adds up. During his 19-year career in the NBA, O’Neal racked up about $300 million, which he has used to invest in everything from early stakes in Google and Apple to an empire of Vegas nightclubs and fast-food franchises like Five Guys, Auntie Anne’s, and Papa John’s, according to Money.
Since retiring from the league in 2011, O’Neal has been an outlier in the trend of professional athletes that struggle with finances post-retirement. O’Neal took his earnings and reinvested them according to what he liked, he told The Wall Street Journal.
“If something comes across my desk, and I don’t believe in it, I don’t even look at it,” O’Neal told The Wall Street Journal. “Whenever I do business, it’s not about the money.”
He said Google has been his best investment by far, but he most enjoys his investment in the Krispy Kreme doughnut chain.
“I like donuts … Krispy Kreme is a fabulous donut. I was introduced to it in college and have been in love with it ever since,” O’Neal told The Wall Street Journal.