It’s a well-documented fact that Shaquille O’Neal is an active businessman and an investor, and one from out of the vault is an example of how the former Los Angeles Lakers star showed his shrewd business acumen.
Shaq is an investor in Ring, a home security company. The move to invest, though has an interesting backstory.
“So I call a security company, say I need some cameras because people are still crazy now,” the former big said in an interview. “So this dude comes to the house and says $80,000. I said ‘I’m not paying that m*****f**** $80,000 (sic). I go to a Best Buy and see a Ring camera, so I walk to the conference and say, ‘I want to invest in your company and you will pay me to do commercials.”
For those unaware, Ring manufactures home security devices and also has a social network platform called ‘Neighbors’ that helps users to connect and discuss security issues. Founded in 2013 as a startup by Jamie Siminoff, it was initially called ‘Doorbot’ before being renamed to Ring.
Shaq acquired an equity stake in the company and eventually became a spokesperson for Ring. In 2018, Amazon acquired it for well over $1.2 billion. The story simply says how Shaq knew where to put his money and reap the benefits from it.
A Quick Look At Shaquille O’Neal’s Business Ventures
Restaurant chains, fast food franchises, or gyms — you name it and chances are Shaq’s invested in it. As of 2022, he is among the five wealthiest NBA players, with a net worth estimated to be around $400 million. From Krispy Kreme donuts to Papa John’s Pizza, Shaq has been actively involved with numerous brands.
The TNT host also credited Bezos for his valuable advice on investing. “I was at a tech conference in Vegas and I heard the great Jeff Bezos say, ‘If you invest in things, it’s going to change people’s lives,’ you will definitely get a nice return.”
He added that it was more than the money. “It’s not important to me…“It’s basically based on one principle — belief. [Do] you believe in the product? Is it gonna change people’s lives? … That’s what it is about for me.”
Shaq is a perfect role model for those looking to learn about investing and building a business. Safe to say he’s a champion in more than just one trade.
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