Former NBA superstar Shaquille O’Neal is widely recognized as one of the greatest basketball players ever. During his NBA career, he was pretty much unstoppable, capturing 4 championships in what turned out to be one of the most accomplished careers in all of the league.
But Shaq is more than a baller, as he has pointed out plenty of times before. Among other things, he is also a businessman, and he’s always making moves to make the most of his investments, even if it means pulling out of one.
Shaquille O’Neal Reveals The Reason Why He Sold All Of His Pretzel Stores
In an appearance on ‘Earn Your Leisure,’ Shaq explained the thinking behind one of his more recent financial moves: the complete sale of his ownership in 17 Auntie Anne’s Pretzel locations. His reasoning may not be what you think.
(via BET):
“You know we love pizza. I sold my Auntie Anne’s. Because Black people don’t like pretzels that much. So I had to switch it up,” Shaq said. “Maaan, nobody eat cinnamon pretzels.”
“At first, it was a good investment, but the numbers…”
With annual revenue of roughly $500 million, Auntie Anne’s wasn’t some risky and innovative new project that was doomed to fail. Shaq invested in an established and recognizable brand that can be found in malls and outlets all across America.
Apparently, however, the return just wasn’t enough for O’Neal, and he chose not to stick around and wait for things to get better.
Of course, it’s not like Shaq doesn’t have plenty of other investments to worry about.
O’Neal’s investments are a matter of great speculation, with recent information suggesting that he owns over 150 restaurants, along with many fitness centers and even a movie theater. It’s not easy to be worth a reported $400 million, after all. But it’s hard to get an exact approximation of how many things he’s involved in, considering how diverse his portfolio is.
Well, the big man has answered himself, discussing his business ventures in a recent episode of The Big Podcast. He gave a number for how many companies he has been involved with, including the many that he is still currently a part of.
“I’m a part of over 100 companies, I have 30 endorsement deals, I am invested in over 200 companies, my favorite word in business is joint-ventureship.”
Cleary, Shaq knows how to handle his money, and it’s how he has built a massive fortune for himself and his family. Instead of taking his NBA earnings and throwing it all away, he put some of it back to see it later.
Now, in 2022, O’Neal is worth well over $400 million as one of the richest and most successful ex-athletes in the world.
