Shaquille O’Neal said he’d only invest in a particular stock if the product that company pushes out is one that he genuinely likes and aligns himself with.
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Over the course of a brilliant 19-year career, Shaquille O’Neal amassed a total of $292 million in merely contracts he acquired in the NBA. When adjusting the US Dollar for inflation, this comes around to about $434 million in today’s time. However, being the business savvy person that he is, Shaq made sure he wouldn’t limit his wealth these contracts.
It wasn’t how it is currently for ‘The Big Diesel’ however. From the age of 19 to about 26, Shaq claims he would fall for a bevy of scams and get-rich-quick schemes. If someone approached him and said he could turn a million dollars of his into $10 million, according to him, he would do that in a heartbeat.
Shaquille O’Neal essentially had no sense of financial direction as a young, up and coming superstar in the NBA. No athlete really does as being handed millions of dollars after earning nothing in high school or college is quite the shock.
Shaq would eventually wizen up.
Shaquille O’Neal on his stock investment strategy.
Shaquille O’Neal has a policy that guarantees him making sound financial decisions and that is to surround himself with people who he trusts and are smarter than him. He claims that this has worked perfectly as he does not want to be the smartest guy in the room, rather, be advised by smarter men and women than him.
When it comes to investing in a product or a stock, Shaq simply goes off whether he genuinely believes in the product that company is supplying or not. Of course, there are several other technicalities he considers but for him to be drawn towards something, he needs to like it.
“I’m invested in all the big ones [stocks]. I always go with the big ones. I don’t really go with the new ones; I just like to weigh it out. So, I’m [invested in] Apple, Starbucks and stuff like that. I do need to like the product in order to buy the stock, I do.” [at 10:44 mark]
