Shaquille O’Neal says, Jeff Bezos’ advice helped him quadruple his investment

Shaquille O’Neal, a four-time NBA champion, has significantly increased his net worth through strategic investments since retiring from professional basketball. O’Neal, who earned $286 million in salary during his 18-year career, has built a diverse portfolio by focusing on investments that impact people’s lives.

O’Neal adopted an investment philosophy influenced by Amazon founder Jeff Bezos. Speaking to The Wall Street Journal in 2019, he said, “I heard Jeff Bezos say one time [that] he makes his investments based on if it’s going to change people’s lives. Once I started doing that strategy, I think I probably quadrupled what I’m worth.”

Read also: Top 20 best-performing S&P 500 stocks

This approach led him to make calculated investment decisions rather than focusing solely on financial figures.

O’Neal made an early investment in Google, which has since grown into one of the world’s largest technology companies. His portfolio includes investments in Apple and the home security company Ring. He first encountered Ring while searching for a security solution for his home. After using the product, he decided to invest, a move that proved successful when Amazon acquired Ring for $1 billion in 2018.

O’Neal evaluates investments based on personal alignment rather than profitability. He owned 17 Auntie Anne’s franchises but later sold them. “I had to ask myself: Do I really believe in this? The answer was no, so I let them go,” he said. However, he remains invested in Krispy Kreme, a brand he has been fond of since college.

Read also: 4 AI stocks making up 32.1% of Warren Buffett’s $295bn portfolio

Despite his success, O’Neal has made investment miscalculations. One of his biggest regrets was passing on an opportunity with Starbucks. “When Howard Schultz wanted to do business with me, I looked at the deal and said, ‘Black people don’t drink coffee,'” O’Neal revealed. “I was wrong.”

O’Neal continues to earn from his role as an NBA analyst for TNT’s “Inside the NBA.” The network retained its team after licensing the show to ESPN for the upcoming season. Reports indicate that O’Neal will earn more than $15 million per season as part of the new deal.

O’Neal’s investment journey reflects a strategy focused on impact rather than immediate financial returns. By choosing businesses that align with his values, he has expanded his wealth and maintained financial success post-retirement.