“Educate Yourself, It’s Not All About Going to School..”: Losing Millions to Lakers Legend Magic Johnson Became a Crucial Lesson for Millionaire Shaquille O’Neal

Shaquille O’Neal is undoubtedly one of the wisest people out there. Years after calling an end to what was a legendary NBA career, the big man has continued to dominate off the court as well. He has tried his hand in the corporate world and found great success in each of his business endeavors.

Shaq’s expertise and knowledge are a byproduct of the lessons he has learned throughout his life, whether through triumphs or setbacks. While the NBA legend has experienced countless triumphs, he has made sure to learn from the numerous setbacks that have followed. One of those setbacks Shaq endured was losing Starbucks and millions of dollars to Magic Johnson, which served as a valuable lesson for him.

Talking on the ‘Drink Champs’ podcast, Shaq was asked about the time when he passed on the opportunity to invest in Starbucks. He described how it could have been a major breakthrough as he could have been the first to open a Starbucks in the “hood.” He claimed that he was only trying to stay true to his roots by declining the opportunity as no one in his family drank coffee.

Fellow Los Angeles Lakers legend Magic Johnson eventually invested in Starbucks in 1998. This expanded the coffee chain’s presence in underserved neighborhoods across the country. Since then, the company has blossomed into a powerhouse, becoming the world’s biggest coffee chain.

Shaq, back in 2019, expressed that it was one of his biggest mistakes to not have invested in the coffee giant.

Shaquille O’Neal lost out on Starbucks to Magic Johnson

Shaquille O’Neal might have lost millions of dollars to Magic Johnson; however, in return, he learned a valuable lesson.

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The Hall of Famer noted the importance of educating oneself. He remarked how it’s not all about going to school but keeping track of what’s happening around you.

“That’s why when we say educate yourself, it’s not all about going to school”, said Shaq. “It’s just like learn, you gotta know what’s going on in your neighborhood. I know what regentrification is now…I know it ’cause I’m doing it”, he added.

Shaq then noted how he is engrossed in beautifying the neighborhoods without displacing any people.

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The four-time NBA champion certainly gained a valuable lesson. He may have passed on the opportunity to invest in Starbucks, but he has possibly made up for it with a plethora of other lucrative investments. Moreover, Shaq now does extensive research before investing in or passing on any opportunity, which has allowed the ‘Big Aristotle’ to amass a fortune even after retiring from basketball.