Shaquille O’Neal’s ‘Starbucks ideology’ that caused a $100 million loss, came to the fore in a ‘Pretzel deal’
Shaquille O’Neal is usually wise with his money, but sometimes, he’s had some preconceived notions about food and beverages which he’s used to make decisions.
The Lakers legend has amassed a massive net worth of $400 million. Shaq takes the time out to look at businesses, see which ones will net him profits, and then follow through on that.
Shaq’s TV personality has kept him famous and prevalent even after retirement. Shaq co-hosts Inside the NBA with Charles Barkley, Ernie Johnson, and Kenny Smith, forming one of the greatest sports talk shows in history.
In the past, Shaq has had some trouble with investments, but he’s turned that attitude around, and now, he goes after exactly what he wants. Of course, Shaq does have some interesting ideologies which at times make for interesting and somewhat questionable decisions.
Shaquille Oneal made $292,000,000 + in his entire career.
Today he is worth $350,000,000 today.
Like every wealthy person, he became the best at 1 thing,
Got paid a lot of money to do it…
Then he parlayed that income into other asset. #mogul
— Samson Jagoras (@SamsonJagoras) September 16, 2022
Shaquille O’Neal dropped Auntie Anne’s for the same reason he dropped Starbucks
Early in his career, Shaq had a massive opportunity to cash in on future profits. In 1998, Magic Johnson cashed in on the coffee wave when he convinced Starbucks owner Howard Schultz to open 125 stores across the U.S.
In 2010, Magic sold his stock and netted $10 million from it. However, there was a chance that Shaq could have gotten to it first. “My biggest mistake was not investing in Starbucks,” he explained. “I had the opportunity before Magic Johnson but I told Howard Schultz that black people don’t drink coffee because I never seen anyone in my family drink coffee.”
Shaq carried the same mindset with another business deal. This time it wasn’t a loss or a benefit for him, it just represented the same line of thinking that he used for Starbucks.
Shaq was the joint owner of several Auntie Anne’s chains, but he sold them because he, again, didn’t think that African Americans ate pretzels.
Whether Shaq is right or not is a completely separate story, but it is interesting to consider how he holds certain mindsets and attitudes in his business deals at times.
Shaq is a great businessman, owing to his incredible net worth. He owns over 100 car washes and 40 24-hour fitness centers among other things.
Also Read: Giannis Antetokounmpo gets groovy on his wife Mariah Riddlesprigger’s 30th birthday!
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