“87 Percent Down to 18!”: Shaquille O’Neal Explains Investment in $14,000,000 EdTech Firm, Shines Light on Positive Impact of Literacy

Shaquille O’Neal has gained a reputation for himself as a businessman. Known for making business-savvy decisions and smart investments, Shaq has built an incredible portfolio. So much so, that he now sits atop a $400,000,000 empire. Recently, the four-time NBA Champion was invited to TechCrunch Disrupt where he took to the stage. Here, he touched upon the EdTech industry and the various startups that are making waves in the world. EdTech is a space that he clearly enjoys working in, having recently invested in a $14,000,000 firm himself.

Education is of great importance to Shaq. Growing up poor, the need for a good education was a priority, something that his parents drilled into him. He himself is a scholar, more specifically, a Doctor of Education in Human Resource Development. That aside, he has several other degrees and hopes his children will take their education seriously as well. After all, the Hall of Famer has made it clear that they will not have access to his wealth unless they come back home with at least three degrees.

Shaquille O’Neal elaborates on the importance of education and the positive impact it has

Shaquille O’Neal recently opened up on how important education is at ‘TechCrunch Disrupt’. Specifically breaking down the milestones being covered by the EdTech industry. In particular, he wanted to set an example for the children and how, while being rich and famous is great, there are more important things in the world.

The Big Aristotle also spoke about some of the interesting innovations being made in the industry at the moment. One that clearly piqued his interest was the research being done on the impact education has on prison inmates. He shared how a study he read revealed that the percentage of repeat offenders can be decreased from 87% to 18% just by teaching them how to read.

“There’s actually a study that shows that if you can teach somebody that’s in prison how to read and increase to grade levels, they go from an 87% chance of reoccurring down to an 18% chance. So literacy can drive you know, economies that can change everything.”

Some may believe that Shaq is all talk. But the millionaire is putting his money where his mouth is. As of June 2023, O’Neal has become an investor in Edsoma. Valued at approximately $14,000,000, the former Los Angeles Lakers star was involved in a $2,500,000 seeding round for the EdTech firm. Just another example of Shaq’s visionary investment policy.

Shaq took a huge chance back in 1993-1994 when he invested in Google

This isn’t the first time Shaquille O’Neal has taken a step into a grey area in terms of technology. EdTech is one thing, but in 1993-1994, Shaq took a huge chance on one of the most revolutionary tech companies, Google. Having just moved to LA, Shaq happened to find himself babysitting for a man who was so impressed by him that he brought him in on the investment.

Years later Shaq got a huge return on his investment. Since then, he’s been a huge advocate of investing and the perks that come with it. He truly is a savant when it comes to investing. Something that shows in the vast amount of wealth he has accumulated over the years.