Shaquille O’Neal once sold 155 Five Guys franchises to start his own restaurant
Over the years, NBA legend-turned-TNT analyst Shaquille O’Neal has developed a reputation as one of the shrewdest businessmen among current or retired athletes. O’Neal has been involved in countless business deals from investments in prominent companies such as Google to his own business startups.
Sports entrepreneur Andrew Petcash recently broke down some of the former LA Lakers superstar’s most notable business ventures on Twitter. This included O’Neal’s massive investment in the restaurant franchise “Five Guys.”
According to Petcash, O’Neal once bought a whopping 155 Five Guys franchises for a total of $100 million. This reportedly represented more than 10% of the company’s franchise portfolio at the time.
After investing, O’Neal waited for the franchises to increase in value before flipping them all for a profit in 2016. The big man then used some of the proceeds to start up his own restaurant named “Shaquille’s.”
𝐅𝐢𝐯𝐞 𝐆𝐮𝐲𝐬 (𝐛𝐮𝐫𝐠𝐞𝐫𝐬 & 𝐟𝐫𝐢𝐞𝐬)
7️⃣ 𝐅𝐢𝐯𝐞 𝐆𝐮𝐲𝐬 (𝐛𝐮𝐫𝐠𝐞𝐫𝐬 & 𝐟𝐫𝐢𝐞𝐬)
Shaq bought 155 Five Guys locations (worth ~$100M). It was more than 10% of the company’s entire franchise portfolio.
In 2016, he sold all 155 to start his own restaurant, Shaquille’s. https://t.co/RijwfLdhHI
O'Neal's Southern cuisine restaurant, which was located in Los Angeles, California, was described as following:
“Shaquille’s is a casual restaurant specializing in Southern cuisine and service with personality. The menu focuses on farm fresh produce and features his signature fried chicken. Shaquille’s curated beverage program includes a wine vault, local draft beers, and hand-crafted cocktails with an emphasis on bourbons and whiskeys.
“Situated in the heart of LA Live, the space features an enclosed private patio surrounding the main entrance with a modern, upbeat vibe that transforms guests’ experiences from day to night.”
Unfortunately for O’Neal, Shaquille’s has since closed. However, that hasn’t stopped the big man from continuing to search out his next investment opportunities.
Shaquille O’Neal on how he chooses his investments
Shaquille O’Neal's strategy for choosing his investments is simple. During an interview with “The Wall Street Journal” in 2019, O’Neal said that he bases his investments on a strategy he learned from Amazon founder Jeff Bezos.
He tries to always make investments that will change people’s lives. O'Neal added that the strategy has been working wonders for him as he has quadrupled his net worth since abiding by it.
“I heard Jeff Bezos say one time he makes his investments based on if it’s going to change people’s lives,” O’Neal said.
“Once I started doing that strategy, I think I probably quadrupled what I’m worth.
“If something comes across my desk and I don’t believe in it, I don’t even look at it, even if it looked excellent on paper. Whenever I do business, it’s not about the money.”
As of 2023, O’Neal, aged 51, now has a staggering estimated net worth of $400 million. It’s safe to say that the former LA Lakers big man's investment strategy is still paying off and then some.
Also read: "Good chunk of his head was gone" - When Shaquille O’Neal narrated his horrendous experience at murder crime scene as a county sheriff