NBA legend Shaquille O'Neal shares his entrepreneurial insights with the students of Tennessee State University and Morehouse College; Taking a closer look at Shaq's business persona
In the process of expanding upon his individual activities and contributions, Shaquille O'Neal has also taken up the role of an advisor and mentor to budding entrepreneurs.
Taking part in an online event, O'Neal sat down with students from Tennessee State University and Morehouse College to share his own journey as an entrepreneur.
NBA Hall of Famer Shaquille O'Neal has been known to be the face of many franchises in the league as well as one of the cast members of the NBA on TNT.
Imparting the knowledge and experience gathered over his time away from the game of basketball, Shaquille O'Neal looks to enrich the next generation as they set out on their endeavors.
Shaquille O'Neal as an entrepreneur
Known for his dominant play on the court, Shaquille O'Neal is widely regarded as one of the best big men to ever play the game. Winning titles with the LA Lakers as well as the Miami Heat, O'Neal has had an illustrious career as a basketball player.
Closely linked to the sport even after his retirement, a lot of what O'Neal tends to do outside of the sport tends to go unnoticed.
Shaquille O'Neal is a very active businessman and investor. With a vast portfolio featuring investments in Apple and General Electric from the early 90's to investing in eSports teams, O'Neal could be classified as a savvy entrepreneur.
Shaq Brand Shoes
One of the most noteworthy aspects of O'Neal's work outside of basketball has to be in the sneaker business. Rejecting a $40 million deal from Reebok, Shaquille O'Neal tied up with Walmart to create the Shaq brand to make affordable shoes for children in the range of $19-$20.
In the process of doing so, the Shaq brand has managed to sell over 120 million pairs of shoes since 2016.
An important aspect to note within the Shaq brand, which was revealed recently in an interview with Complex Sneakers, was that the brand was largely owned by Nike at one point.
With shoes often having similar designs to Nike's Jordans, this could be attributed to the sneaker giant's involvement in the Shaq brand.
Nike actually used to own the @SHAQ brand. And that’s why his sneakers looked familiar
FULL EPISODE: youtu.be/VfOtgxp4Fng https://t.co/VyWC3ktLeO
Shaquille O'Neal's relationship with Reebok didn't end with his professional career however. Owning shares in the Authentic Brands Group (ABG) - owners of name brands such as Forever 21 and JC Penney - the group entered talks to buy Reebok from Adidas.
Because of O'Neal's involvement with Reebok, ABG pursued the deal. Following Shaq's dream of owning Reebok and bringing the sport back to life, Shaquille O'Neal could become part owner of Reebok once the deal closes in the first quarter of 2022.
Shaquille O'Neal and the Sacramento Kings
In 2013, Shaquille O'Neal also became a minority owner of the Sacramento Kings. Only two years after his retirement from the game, O'Neal immediately found himself in a business capacity in the league.
At the time, O'Neal's involvement with the Kings franchise also showed a lot of promise in the capacity of a mentor.
With a talented star in DeMarcus Cousins serving as the face of the franchise, having Shaquille O'Neal - the most dominant big man of the modern era - would serve as an upside.
While this would not unfold in the way the Sacramento Kings expected, "Diesel" still emerged as a winner in this entire ordeal. Teaming up with WynnBet as a brand ambassador, O'Neal sold his minority stake in the Kings to the organization.
With the Kings valuation rising from $534 million in 2013 to $1.8 billion by the time he made the sale in 2021, O'Neal's minority stake paid off handsomely.
Shaquille O'Neal's involvement in eSports
Shaq was also a trendsetter on the eSports front. Taking an active role in investing in NRG Sports, an organization owned by former Sacramento Kings co-owner Andy Miller, the NBA superstar became one of the first sports icons in the market to do so.
@amiller #esports audience continues to grow and make sense for traditional sports leaders to get involved @AROD @SHAQ - @NRGgg is proud to call them partners and innovators for the future of this industry! #NRGfam @NairoMK #SXSWgaming #sxsw @EventsDCChair @Twitch @ruckusnetworks
O'Neal was drawn to eSports by pure coincidence. After visiting Staples Center for an event with his children, his interest in the field led him to do some research on the vertical.
Gradually, since investing in the venture, his curiosity has resulted in a huge naming rights deal between NRG Sports and General Automobile Insurance Services.
A deal valued at approximately $210 million along with a cryptocurrency exchange, the NRG Sports "Rocket League" team would be renamed as the General Insurance NRG.
Other investments and accomplishments
Shaquille O'Neal continues to dabble in different businesses. The 49-year old has also been closely involved with Krispy Kreme and Papa Johns.
Purchasing a Krispy Kreme outlet in Atlanta and joining the board of directors for Papa Johns, O'Neal has also worked as a spokesperson for these brands.
On the academic front, O'Neal earned his educational doctoral degree (Ed.D) in Human Resources Development in 2012 and has since been working towards a law degree.
With a continuously expanding portfolio and a lifetime of experience to share, O'Neal attempts to mentor others who are looking to explore the same path.