Shaquille O’Neal on Falling in Love With Business: “When My First Tax Refund Check Came, I Was Like, Oh My God, Business Is Fun”

Shaquille O’Neal grew up watching and learning from the best. From Magic Johnson to Patrick Ewing, Shaq found his inspiration only among the greats in the NBA. He had his eyes set on greatness from the very onset of his basketball career. However, a career in Sports is highly based on your ability to compete. And with age, that ability goes away. So Shaq had to have thought long-term for his future. He knew that after a point, he would have to hang his sneakers and move on in his life.

And when he met his role model, Magic Johnson, he said something to him that got him thinking. He said, “It’s okay to be famous but at some point, you want to start owning things.” and that got Shaq thinking.

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Shaquille O’Neal on why he loves doing business

When Shaquille O’Neal had this conversation with Magic, he immediately worked on putting his thought into action. On his recent podcast with Gary Vee, he revealed the details of what happened after his conversation with Magic. He started a corporation with his family members and got his first tax return cheque. O’Neal claims this is where everything changed for him.  He said, “When I got my first tax-return cheque, I was like ‘Oh my god! Business is fun, I like it.'” 

Shaquille O’Neal’s net worth, business investments, and more

Shaq was an early investor in Google after overhearing two men discussing search engines in 1999. Later, he bought a stake in Apple, the technology powerhouse, while still playing basketball. O’Neal’s other interests since then have included his own branded soft beverages – Shaq Soda and Shaq Fu Punch – as well as a massive chain of food restaurants and franchisees. O’Neal is a part-owner in 155 distinct Five Guys franchises and has stakes in 17 Auntie Anne pretzel restaurants.

Indeed, that advice from Magic Johnson, combined with the feeling of getting his tax return cheques, made him millions in the future. Shaq’s present net worth stands at a whopping $400 million, years after his professional retirement.

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