Shaquille O’Neal and investments go hand in hand. Considering his business profile, it is no surprise that the Los Angeles Lakers legend has a net worth of nearly $400 million. Shaq has his hands on almost every profitable business venture. Food chains, sports endorsements, team ownership, and whatnot. Yet, his desire to own a television network has come to an end. The 51-year-old has indeed learned from the best, but this time, he failed to secure a massive $3 billion deal that could have hiked his net worth even more. 

What’s surprising is that Big Diesel was not the only one who let the deal slip. The 4x NBA champion was joined by $40 million rich 50 Cent and a 53-year-old Hollywood legend, who refused the deal. 

Shaquille O’Neal, 50 Cent, and a cinema legend slip a massive $3 billion deal

Black Entertainment Television, aka BET, is a hot name for bidders right now. Owned by Paramount currently, the television entertainment channel has a legacy that many continue to fight for. One of them is NBA great Shaquille O’Neal, who joined in for a bid. Just two months after Paramount announced they were selling BET, huge names like Shaq, 50 Cent, and Diddy were tied to the potential sale.

Why is the demand sky-high? Paramount is not just selling BET networks, but also BET+ and VH1 as a part of the deal. Ever since Paramount made the announcement, bidders started to flood in. However, 53-year-old Tyler Perry topped the list with an impressive offer. 

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The “Madea” franchise owner, worth $1 billion, managed to bring in famous names like 50 Cent, Diddy, Kenya Barris, and more. The 15x NBA All-Star was one of them. Even though Perry had an impressive group of investors to pull the deal off, Paramount raised the bar, which destroyed the hope of any deal happening. 

Why did Tyler Perry refuse the deal? 

Paramount made sure the BET network must reach an African American owner. Tyler Perry, Shaq, and 50 Cent were suitable options. However, Paramount reportedly had an asking price of $3 billion. Perry was not ready to give anything more than $2 billion, as per The Wall Street Journal. Even though he has a massive net worth, the 53-year-old believed $3 billion was too much to ask for.

On the other hand, Paramount felt $3 billion was the only right amount that could help them have a stable balance sheet. Ultimately, the multi-million network channel revealed the deal was off.

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Shaquille O’Neal’s chance at owning a network company has come to an end sadly. What are your thoughts on this whole ordeal? Share in the comments below.