Shaquille O'Neal stole ideas from Jeff Bezos and other billionaires to build $400,000,000 business empire
Shaquille O'Neal didn't build a $400 million empire without being a keen learner. The former NBA and LA Lakers star has actively sought ways to make the money he could with his investments. One way he did that was by attending conferences by successful business moguls.
Shaq once said he took a page from Amazon founder Jeff Bezos' book. Here's what O'Neal said:
"If you're the smartest guy in the room, there's a problem. I always go to these tech conferences. Cause I like to hear smart people talk. Like some people talk too much, and I like the people that talk too much, cause I'm stealing all their s**t.
"Somebody asked Jeff Bezos, 'How did you get so rich?' and he said, 'I invest in things that change people's lives.'"
Shaquille O'Neal played in an era where NBA salaries alone couldn't help an athlete make a fortune from their money. Shaq knew he had to seek ways to capitalize on whatever money he made as a player to reach the net worth he's at right now.
O'Neal learned about the tricks of the trade quickly and started implementing the knowledge with his financial activity off the court. The NBA legend got into investments during his playing career and focused more on it upon retiring.
O'Neal now owns over 50 brands and hundreds of franchises across various industries.
Looking at how Shaquille O'Neal started his journey as a businessman
Shaquille O'Neal bloomed as a businessman amid his NBA career, but he started thinking like one when he was a rising star at LSU. Then 18-year-old Shaq had to make his first business decision.
He knew he was due to make plenty of money in the coming years, so he started taking courses and reading about the steps to become a businessman. "The Dummies Guide To Starting Your Own Business" was Shaq's favorite book.
Shaquille O'Neal once shared the story of how he made his first business decision as an 18-year-old, saying:
"If I get hurt this year from people tackling me in the air, lawyers of London will provide me a million dollars. But Derrick Coleman just signed for $30 million ... Economically, it's going to go up 15/20%.
"So I could probably ask for $40 or $50 million. Do I stay and get the $1 million if I get hurt, or do I take the $40 or $50 million and then come back to school? So at 18 years old, that's when I started thinking like a businessman."
O'Neal referred to his decision between staying with LSU for one more season or entering the NBA draft. He took the NBA route, securing a $40 million contract with the Orlando Magic on his rookie deal after they selected him as the No. 1 pick.
Shaquille O'Neal locked long-term money with that as the contract was across seven seasons with an annual average salary of $5.7 million. That was the wise decision years later as college basketball turned brutal for O'Neal, who took wild hits and blows as the strongest player in the NCAA ranks.
He avoided getting hurt and made five million dollars instead of one by picking to go the NBA route.