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400M Shaquille O’Neal gets scammed for $150K by the Cannabis industry

Arjun Julka

400M Shaquille O'Neal gets scammed for $150K by the Cannabis industry

NBA legend Shaquille O’Neal files a lawsuit against his former marijuana business partner, alleging mismanagement of his funds.

Boasting an estimated net worth of $400M, Shaquille O’Neal made an exemplary transition from his career on the NBA hardwood to the business world. The four-time champion is a success story by all means and an example for future generations on how to invest their money wisely.

The Big Diesel has investments in various fields, including FMCG, food & beverage, technology, and hospitality, to name a few. Though Shaq’s made tons of moolah with his projects, he did have his fair share of losses. One such instance was entering the business of cannabis.

The global legal marijuana market size was estimated at USD 13.2B in 2021 and is expected to reach USD 16.7B in 2022.

In 2016, the three-time Finals MVP and his business partner Jerome Crawford invested $150K in the marijuana business. More than a year later, the company had no license, revenues, or operations.

Also read: Shaquille O’Neal, the $400 million Lakers legend snitched on gangsters of LA who were once his friends

As the founders began to stall, Shaq and co decided to file a lawsuit worth $1M against the party.

Shaquille O’Neal’s battle with former marijuana business partner reaches court.

In a detailed report of the lawsuit obtained by TMZ, Shaq said their investment was supposed to help the company “pursue opportunities in the field of legal cannabis.”

In the suit, the Hall of Famer claims that by late 2017, the company “seemingly had no licenses, no revenue, and no operations.” Shaq says when he and his attorneys pressed for details on how their money was being used, the company initially didn’t respond.

On threatening to go legal in 2018, the company agreed to pay Shaq and Crawford back in installments of $10K each. According to Diesel’s claims, the company only paid the first installment of $20k. The situation currently stands at the former Lakers center suing the company to get his money back with interest for mishandling funds, looking for damages over $1M.

Just like his success stories, Shaq’s above instance could serve as another learning example for the current crop of players on how to invest their money wisely.

Also read: Shaquille O’Neal is worth $400M but still prefers to eat like a common man

About the author

Arjun Julka

Arjun Julka


Arjun Julka is a NBA author at The SportsRush. Basketball isn’t just a sport for this 26-year-old, who hails from Mumbai. He began watching the sport after stumbling upon a court in his society, helping him identify an undiscovered passion for the game of hoops. Now an ardent fan, Arjun supports Stephen Curry and the Warriors but also enjoys watching Giannis Antetokounmpo own the paint. When it comes to the GOAT debate, the TSR author feels LeBron James is yet to receive a lot of his due but cannot deny marveling at Michael Jordan’s resume.

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