NBA all-time great Shaquille O’Neal is one of the richest retired basketball players ever. He made millions from his NBA salary and endorsement deals during his playing career. O’Neal then built a business empire from the earnings from his playing career. He reportedly owns more than 200 stores. The four-time champion’s success off the court was no accident. He has several business philosophies which he often uses to be successful as an entrepreneur.

Recently, Shaq made an appearance on the ‘Drink Champs’ podcast with Revolt. During the show, the Los Angeles Lakers legend shared some interesting details about his career, life, business, etc. The crew wanted to know the reason behind the success of O’Neal as an entrepreneur. The host asked whether he had a good team that helped him invest properly.

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The former MVP stated that it is not about the team and added there should be structure and discipline. “So I don’t have boys. My boys work for me. We get money together. Instead of me giving you $100,000, we could start a company and we could do certain things,” O’Neal said.

Shaquille O’Neal talks about his investment strategy

Shaquille O’Neal then talked about the investment philosophy that is inspired by Amazon founder Jeff Bezos. He has multiple times talked about the strategy. He stated that he only invests in products that he believes could change the lives of people. Shaq added that this investment strategy has worked tremendously for him. He also disclosed the strategy is the reason he proceeded with the Shaq shoe deal, the ring camera, and Papa John’s.

The ‘Big Diesel’ was a superstar as soon as he stepped foot in the league. Like most superstars in the league, O’Neal signed a massive shoe deal. His first shoe deal was a $15 million contract with Reebok. The brand released multiple signature shoes for the former MVP which were iconic. He was one of the main reasons behind Reebok’s success at the time.

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So Reebok wanted to tie down the face of the brand for another five years with a $40 million contract. However, Shaq had a reality check from a mother who could not afford to buy his signature shoes for her children. The woman called out Shaq for his pricey signature shoes. When he offered money, the woman rejected it and told him to make affordable shoes.

Coming from very humble beginnings in Newark, O’Neal understood the woman’s agony. He then declined Reebok’s contract and started his own brand and made his signature shoes affordable.