“Do You Think I Trust You?”: Millionaire Shaquille O’Neal Invested “50% of Everything” He Had Into Becoming a Part Owner of Forever 21 and Reebok’s Parent Company

Published 09/17/2022, 8:30 PM EDT

Shaquille O’Neal is one of the greatest basketball players to ever play the game. The 7-foot giant is known for his petrifying playing style, jumping over his rivals to score a dunk. Off the court when Shaq is not breaking the backboards he can be seen in business conversations. He is an entrepreneur, investor, and businessman.

With a net worth of over $400 Million, Shaq is in no mood of stopping anytime soon. His business ventures continue.

Shaquille O’Neal’s idea that turned into an investment

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Shaq took retirement from the sport in 2011. That was the day, and today is the day, as he never fails to make media coverage. Today, Shaq’s investments and ventures have made him more money than his basketball career. Shaq invested in various companies which turned out to be gold.

To date, his biggest investment has to be The Authentic Brands Group. The company bought Reebok, Barneys New York, Forever 21, and a host of other brands and retailers. The Lakers legend is the second largest individual stakeholder of this company. He bought the shares back in 2015 and held them. Jamie Salter, the CEO of the company, describes his and Shaq’s relationship as a marriage.

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In an interview, Jamie revealed that before signing the deal, Shaq proposed an idea to him. Shaq said, ‘You know all that money you’re going to give me?’” related Salter. “I said, ‘Yeah.’ He further added, ‘I’d like to invest it in ABG.’ And I said, ‘Hold on, I don’t understand. You need to explain that to me.’ He says, ‘I’m doing a deal with you to sell you 50% of everything I have going on for the rest of my life. Do you think I trust you?’ And I said, ‘I hope so.’ He says, ‘Why wouldn’t I be partners with you? We’re going to build this company together.’

This deal turned out to be gold. The company went on to acquire some of the biggest brands, with Shaq the second biggest stakeholder. He claimed that the main reasons for his initial interest in ABG were its emphasis on enjoyment, family values, and productivity.

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Do tell us your favorite Shaquille O’Neal moment in the comment section.

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Ritesh Jha is an NBA writer for EssentiallySports. He is currently pursuing his Bachelor's in Technology in Computer Science from Rungta College. Ritesh worked as an intern content writer for a digital marketing agency called KCAS Branding before joining EssentiallySports.

“Do You Think I Trust You?”: Millionaire Shaquille O’Neal Invested “50% of Everything” He Had Into Becoming a Part Owner of Forever 21 and Reebok’s Parent Company

Shaquille O’Neal’s idea that turned into an investment

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