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“When I Make Investments, It’s Never Because Of The Monetary Things” – Shaquille O’Neal Revealed How His Children Once Lead Him To Invest $155 Million

Published 12/24/2022, 8:30 AM EST

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Shaquille O’Neal once tanked $155 million from his net worth based on a single event, and you won’t believe what it was for. 

Investments are a crucial part of every person’s life, as one bad decision leads to massive losses. But then, the smallest of well thought out choices help you build skyscrapers with a strong foundation. This has been the story of basketball legend Shaquille O’Neal as he once made a knacky investment in 2016. Apart from his staggering basketball career, Shaq is known for his investments, as he shares massive interests in multiple fields. The veteran is always looking out for business opportunities, investing in the right companies at the right time.

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I mean, time speaks for itself when it comes to Shaq’s investments, as he owns a little of everything. From a massive stake in Google and Apple to Five Guys, Krispy Kreme, and Papa John, the Lakers’ legend has it all. However, back in 2016, O’Neal made a massive investment in the Esports industry that stunned all his fans.

Shaquille O’Neal once dazzled fans by shaking hands with an esports organization

Shaq has always searched for the best whenever it concerned his life. From being an absolute legend on the court to taking the right decisions for investments, he’s always hit the bullseye. But in 2016, he found himself in a strange position as he was about to make an investment different from his line. 

Few years back, when the legend was at home in California with his kids, they urged him to take them to an event. It was the League of Legends Season 3 World Championship, held at the Staples Center. This was something new for the basketball veteran as he had little knowledge about it. 

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But after watching 30,000 kids supporting the sport, he decided to join the industry in his style. Shaq teamed up with NRG Esports, investing $155 million in the company. For those uninitiated, NRG was founded by Sacramento Kings co-owners Mark Mastrov and Andy Miller. 

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Despite the company just being a year old, it was clear that Shaq had sheer belief as he tanked the massive amount from his net worth. Plus, during the Washington Post interview, he stressed the topic, talking about how far the field could go in the future. 

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Here’s what he said“When I got the opportunity to invest in an esports team, I thought it was the right thing to do. Because you know, especially when it comes to technology, kids dictate what’s going to be and what’s not going to be. I knew it then, and I know it now: esports is still one of the fastest-growing industries, and it just appeals to so many people.”

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Since 2016, NRG has grown tremendously well, bagging multiple awards in different games. And well for Shaq’s investment, it’s safe enough to say he got into the space at the right time. 

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Written by:

Atharv Phadke

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Atharv is an eSports writer at EssentiallySports. Currently pursuing a Master’s degree in Journalism from Mumbai University, Atharv has a keen eye for writing engaging content. He enjoys all kinds of games but thoroughly follows FPS games such as Call of Duty, Apex Legends and Fortnite.
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Edited by:

Gideon Mathson