Burgers, laundromats and gyms: Shaquille O’Neal’s smart way to get $ 400 million

In 2011, Shaquille O’Neal left basketball after 19 successful seasons with a fortune of approximately $ 510 million in his pocket. Today it accumulates almost 400 and is content to belong to an exclusive minority: not one of the 60 percent of former NBA players who go bankrupt within five years of retirement.

O’Neal, 50, began planning his finances while playing as a player in the American league. He has manipulated pharaonic contracts related to sport and big brands. Before leaving the courts, for example, he invested in Google shares, a strategy that I would repeat ad nauseam in other companies.

Over the years his activities have moved away from basketball and approached everything he likes, so much so that he became an actor, singer and, ultimately, a point of reference in the purchase of food franchises.

According to reporter Belén Hernández for El País, Shaq has tried everything since the NBA: he bought 155 Five Guys burgers (ten percent of the company); 17 Antie Anne’s Pretzels restaurants; 9 of Pope John; 150 car washes; 40 gyms; 1 cinema; 1 recipe book. formed an empire.

And it was not only made by foreign franchises, but also put up Great chicken, your fast food restaurant. Her journey with this brand began in 2018 and continued at ten locations throughout Las Vegas and on select Carnival cruise ships.

O’Neal understands that the franchise “is a simple model”. “If it works, follow the rules and it will continue to work … If you stick to the values ​​you have learned, you can’t go wrong,” said the athlete who currently has an MBA from the University of Phoenix (Arizona) and a PhD once said. in Education.

Your activities don’t stop there. O’Neal makes about $ 25 million annually. thanks to the sponsorship agreements it has with companies such as Icy Hot, Gold Bond, Buick and Zales, among others.

He also has part of Apple, Ring and is the largest shareholder in the conglomerate Authentic Brands Group, owner of his beloved Reebok.

One day, Shaq referred to his luck and insinuated that his working method defined him after listening to advice from experienced people.

“I once met a gentleman who told me about the importance of investing. With a piece of paper he explained it to me. “Pretend this is $ 100.” Then he tore the paper in half and said, “Smart people invest this $ 50 and keep the other $ 50, but the rich take half that $ 50 and keep it.” I found what he told me interesting, so I started doing it, “he recalled.

At the same time, the strategy of investing aggressively sometimes failed him. This is exemplified when he didn’t want to buy Starbucks stock because he believed the chain coffee was a white flavor.

“In 1993, I met Harold Schultz, the owner of Starbucks, and he told me he wanted to open branches in African American communities. Since I’ve never seen black people drink coffee, I told them it wouldn’t work. Today, when I go to Starbucks and see people of color drinking coffee, I keep my head in check, ”O’Neal said.

Shaq is among the five richest players in the NBA behind Michael Jordan, magic johnson, Junior Bridgeman and Lebron James, who would have $ 1,000 million.