After Losing Business to Magic Johnson, Shaquille O’Neal Reveals Next Investment Opportunity

“I don’t do anything for monetary purposes… I’m just gonna continue working,” said Shaquille O’Neal about his work. After an illustrious NBA career, Shaq has redefined himself as a savvy businessman, investing in everything from fast food franchises to tech startups. Yet, even the larger-than-life O’Neal has faced setbacks—most notably losing a golden opportunity with a famous brand.

In a recent interview with ‘School of Hard Knocks‘, the Lakers veteran was asked whether aspiring entrepreneurs should pursue starting their own business or invest in a franchise. His answer?

“Both. I think you should start business if you’re inspired by something and you want to do something and you think will work and it’ll work, or if you see something that’s working you do it,” said Shaq.

Moreover, he even backed up and stated where to invest with a practical example. “Pizzeria on the campus of a busy college. I think it’ll work. Let’s invest,” added Shaq.

Interestingly, Big Diesel’s focus on food franchises comes after a famously missed business deal. In 1998, he turned down the opportunity to bring Starbucks into Black neighborhoods, thinking coffee wasn’t popular in those areas. However, Magic Johnson took that opportunity, and now Starbucks has opened over 100 locations in inner cities across the U.S.

“Not pulling the trigger when I had the opportunity to. Howard Schultz wanted to open Starbucks in the h–d. So when he used to team ‘the h–d’ I was thinking of the h—d. But I didn’t know anything about, you know, re-gentrification and re-beautification and you know certain areas and I didn’t pull the trigger and then Magic Johnson opened up I think 155, Starbucks,” revealed O’Neal during the interview.

Now coming to the example that Shaq gave during the interview. It may not be fully coincidental. In 2019, the seven-footer got into a three-year partnership with the famous pizza chain, Papa John’s, which fetched him $5.625 million in cash. As a board member, he created a signature dish with the pizza chain, ‘Shaq-a-Roni‘ pizza which is a pizza made with extra cheese, extra pepperoni, and eight foldable slices.

His love for food has even led to him starting his own fast-casual chain called ‘The Big Chicken‘ in 2018 and now earns over $31.6 million in annual revenue. Since its founding, the fast-casual chain has been available in 19 locations including, Arizona, California, Illinois, Louisiana, Maryland, Massachusetts, Michigan, Mississippi, and Missouri, and is also available in selected Carnival Cruise ships.

Moreover, Big Diesel’s financial portfolio is nothing but impressive as he has owned as many as 40 gyms, 150 car washes, 155 Five Guys Burger & Fries, 9 Papa John’s, 17 Auntie Anne’s pretzels, and a few Krispy Kreme over the years and has also invested in big firms like Lyft Inc., Ring, and Vitaminwater at their startup stage.

Whether he’s dunking basketballs or launching businesses, Shaquille O’Neal embodies the spirit of relentless determination. His journey from losing Starbucks to championing pizza places shows that even legends can learn from their mistakes—and that success is all about the next play. However, did you know that one of Shaq’s investments was totally accidental?

Shaq’s accidental investment that fetched him millions

When O’Neal retired from the NBA in 2011, he seamlessly transitioned into a new chapter: business and entrepreneurship. However, Shaq’s knack for making lucrative investments wasn’t a post-retirement discovery. One of his most remarkable financial moves came in the form of what he now calls an “accidental” investment.

In the book, ‘A-List Angels: How a Band of Actors, Artists, and Athletes Hacked Silicon Valley’, author Zack O’Malley Greenburg stated one day Shaq was playing with some kids at a restaurant, and their father gifted Shaq shares of ‘Alphabet‘ which was the parent company of Google and was still in its startup stage.

“He said, ‘Shaq, I like you, I got something for you… It was presented to me, I knew it was gonna hit… And I said, ‘Wow, I’ll try it.’ My only regret is that I wish I would have bought more,” said Shaq in a conversation with Greenburg.

Although it was not mentioned how much Shaq had invested in Google back then, according to Fadeaway World the amount was said to be $250,000 which turns up to $16.5 million (£12.9m) today.

Surprisingly, the Lakers legend himself wasn’t aware of the big investment that he had made. “The newspaper told me how much I made and I couldn’t believe it,” said Shaq during the interview with Greenburg. In the end, we can say that his legacy continues to grow, both in sports and the business world.