Shaquille O’Neal, seven years into his NBA career in 1999, was still chasing success on the basketball court. Little did he know that his first championship would come that very season, marking a turning point in his journey. Remarkably, during the same year, Shaq’s business acumen led him to make a significant investment in Google. This early investment has proven to be a testament to his savvy decision-making over the decades. Fast forward to 2023, and Google’s parent company, Alphabet Inc., has soared in value, now exceeding a staggering $2 trillion. Shaq’s foresight and shrewdness have undoubtedly played a role in his financial success, parallel to his triumphs in the NBA.
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With a net worth exceeding $400 million, Shaq adopts a principle in his investments: “Only invest in things that are going to change people’s lives.” This belief was reaffirmed when he happened to overhear a conversation between two individuals at a Beverly Hills hotel, discussing the concept of a mobile-friendly search engine while engaged in a card game. He was a novice in the investment world. However, O’Neal recognized the potential and decided to invest during the company’s Series A valuation. Interestingly, he didn’t fully grasp the magnitude of his stake in the company that would revolutionize the world until its initial public offering (IPO).
Shaquille O’Neal forgot about his investment in Google
Investing $100,000 in Google before its Series A at a $100 million valuation would have yielded a staggering return of 1120 times that amount, reaching an impressive $112 million. Jeff Bezos, who invested $250,000 in the company during its early days, would now possess shares valued at $1.5 billion if he has retained them.
Shaquille O’Neal, on the other hand, is believed to have invested at least $100,000 in Google, but he later sold a portion of his shares. However, he still holds some stocks, which puts his current holdings in the eight-figure range.
Recently, Andrew Petcash took to Twitter to share the captivating story of how Shaq serendipitously discovered Google and potentially amassed hundreds of millions through his investment.
Shaq and Jeff Bezos follow the same exact investment strategy.
It helped them turn $250k into over $400 million.
Here’s the fascinating story: pic.twitter.com/CW9qkWBfmP
— Andrew Petcash (@AndrewPetcash) June 17, 2023
It wasn’t until Google’s IPO in August 2004 that O’Neal even recollected his investment in the company. During that time, the young man was fully immersed in creating a legacy on the basketball court. He also accumulated millions through endorsements and various other investments.
Shaq’s business acumen needs more appreciation
Shaq boasts an extensive portfolio of products and companies. He has ownership of Papa John’s franchises, Forever 21 stores, rights to Marilyn Monroe, copiers, and even alkaline water. These ventures have contributed significantly to his wealth.
In a discussion on Inside the NBA, Shaq’s co-panelist Kenny “The Jet” Smith shed light on his lesser-known business acumen. Despite the goofy persona Shaq often presents on camera, his astute business sense is often overlooked.
As a larger-than-life NBA legend, Shaq serves as an inspiring role model for individuals across all walks of life. His multifaceted success demonstrates the possibilities that can be achieved with dedication, intelligence, and strategic investments.
