Shaquille O’Neal is one of the richest athletes in the world. Shaq has been involved in many companies ever since his playing days. He was not always someone who had a sound knowledge of financial matters but he learned how to transform himself into one of the richest athletes ever.

He recently conducted an ‘Ask Me Anything’ or AMA episode for his weekly podcast. There he pointed out the reasons why he doesn’t really invest in start-ups anymore. Shaq “dunked on” them in the sense that he feels he would much rather invest in settled companies so that it gets easier for him. He also revealed his approach to his business acumen and how his business sense started to grow.

Nischelle Turner asked a question from a fan about whether Shaq still invests in startups or not. To this Shaq answered, “My philosophy is if I believe in it, yes. But startups are difficult. Startups are very, very difficult. I like the pathway through least resistance. For example, if I was going to do a dress — I will probably do a JV [Joint Venture] with a company that already has distribution. Rather than starting with a young beautiful lady that makes dresses in her house and she has a big social media following. That’s cool.”

WATCH THIS STORY: Magic Johnson vs Shaquille O’Neal, who is richer?

He continued with his insights, “But now we have to, you know, make deals and do this and do this and go to shows and boom and bam. At that point, it might not be hot by the time we want stuff to come up. I think a lot of people, when you do it and doing stuff, focus on direct to consumer. It’s loud pains, a lot of trials and a lot of tribulations.”

Shaquille O’Neal reveals how he became a “Joint Ventureship” specialist

Shaq has often disclosed how Magic Johnson had helped him realize the importance of investment even as a basketball player. He has also admitted many times how naive he was when he used to get paychecks from his playing days. But a simple book named “Dummies’ Guide to Starting Your Own Business” helped him understand the importance of business. Magic Johnson’s words helped an 18-year-old Shaq and the first thing he understood was joint ventures.

Even in the podcast, he mentioned all this once again while answering the question from a viewer/listener. He also revealed the number of companies he is a part of. He said, “I’m invested in over 200 companies. My favorite word in business is joint ventureship.” He also gave the Reebok deal as an example of his work in joint ventures.

Trending

WNBA’s Sad Policy Begins Haunting Rookie Caitlin Clark in Dallas: “Liberty Were Fined $500K…”

May 03, 2024 04:06 AM EDT

Billionaire Michael Jordan’s $20 Million Venture’s Identical Logo to Puma Gets Defended by Dwyane Wade: “I’m Not Even Getting Paid”

May 03, 2024 06:07 AM EDT

Rich Paul: Only Savannah James & Bronny Could Cut LeBron’s 5-Year Plan Short

May 02, 2024 07:10 PM EDT

Bronny in Deep Waters as $800,000 Suffering Forces LeBron James’ Son to End College Career With Major Declining Numbers

April 27, 2024 01:45 PM EDT

Despite Game 6 Heroics, Buddy Heild’s 76ers Dream Faces Termination as Klay Thompson Entices Philadelphia

May 03, 2024 05:29 AM EDT

Get instantly notified of the hottest NBA stories via Google! Click on Follow Us and Tap the Blue Star.

Follow Us

Shaquille O’Neal, Who Owns Over 172 Restaurants and 150 Car Washes, Finally Reveals the Number of Companies That Build His $400 Million Net Worth

Shaq stands at the 20th spot on the list of 30 richest athletes in the world, with a net worth of around $400 million. Shaq’s net worth is just as massive as his stature and reputation in the NBA. The 3-time finals MVP and 4-time NBA champion Shaq is a multiple business owner in his retirement. Apart from his NBA contracts for 6 different franchises, and his job as an NBA analyst, his multiple business ventures have contributed the majority to building his empire.