Shaquille O’Neal is one of the most successful athletes turned businessman, but that does not mean his every business decision was right. On his way to making a fortune of $400 million, Shaq has made some very good decisions, like investing in good startups and owning some franchises. However, he has also had his share of regrets and mistakes. One of the opportunities that he missed out on was with Starbucks, which would have paid him a massive $100 million. Shaq also rejected another opportunity from breakfast cereal giant Wheaties.
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O’Neal recently revealed that not signing with Starbucks was one of the biggest decisions of his life. The Lakers legend was contacted by Howard Schultz regarding expanding the brand in Black communities. According to Shaq, since he didn’t think that Black people drank coffee, he believed that the plan was not going to work. Growing up, he always thought that Black people drank sweet tea, which he himself drank.
Eventually, Schultz went with Magic Johnson, who convinced the owner to open the franchise in the inner cities.
It took 20 years for Shaquille O’Neal to get a deal with Frosted Flakes after rejecting Wheaties
Shaq is a businessman with his own principles. He has always said that if he doesn’t believe in a product, he won’t endorse it or invest his money in it. Before he rejected Wheaties, he said that he had no idea what the breakfast cereal tasted like. He added that if he didn’t respect a product, he wouldn’t take their money or do their endorsement. This is what Shaq said about rejecting Wheaties;
“I don’t know what Wheaties taste like, I’m from the hood. Get me in contact with Frosted Flakes. If I don’t respect your product, I can’t take your money.”
Former NBA star Shaquille O’Neal tells us why he didn’t sign a deal with Wheaties, even though they asked him twice, and how he chooses his endorsements pic.twitter.com/Zf5omZfWP7
— Insider Business (@BusinessInsider) March 29, 2020
The four-time NBA champion didn’t get a deal with Frosted Flakes that easily. Finally, after 20 years, O’Neal signed a deal with the company.
However, what is worth noting is the fact that the Big Diesel eventually appeared on the Wheaties box. He endorsed the brand after winning his fourth championship with the Miami Heat. Maybe by that time, he was eating Wheaties.
Before Shaq rejected Wheaties Michael Jordan was the first NBA player to appear on the cereal box
Shaq didn’t believe in Wheaties and eventually refused them on the grounds that they didn’t identify with the African-American Community. However, there were so many athletes who were keen on appearing on the cereal box.
Michael Jordan was the first athlete to be featured on the box. Jordan eventually appeared 19 times on the box since 1988. On its 100th anniversary, Wheaties released two boxes that featured Jordan. Somehow, maybe Shaq changed his mind midway and eventually appeared on the Wheaties box.
