Unquestionably one of the most celebrated players in NBA history, Shaquille O’Neal had a phenomenal career that lasted 19 years. He won four NBA titles and had the privilege of being selected for 15 All-Star games because of his incredible basketball achievements. Shaq, though, has a huge impact off the court as well, becoming a well-known spokesperson for basketball in the public eye.

Shaquille O’Neal has continued to be extremely active in a variety of fields despite leaving the NBA in 2011. He is also renowned for his great business acumen.Notably, he has given his commercial endeavors a great deal of attention. As a result, he has amassed an incredible net worth of $400 million as of 2023. Most recently, Serena Williams applied Shaq’s business strategy to address a prevalent health issue affecting 17% of American women.

Serena Williams drew inspiration from Shaquille O’Neal’s business strategy

The 23-time Grand Slam champion and well-known tennis player Serena Williams collaborated with the migraine drug Ubrelvy. Williams had previously experienced migraines. However, because they had never been very bad, she paid little attention to it. Unfortunately, her migraines got worse during the COVID-19 pandemic quarantine, which made her look for a cure.

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Williams discovered Ubrelvy, a drug made specifically to treat migraines. This drug helped her in relieving the symptoms of migraine. She decided to partner up with Ubrelvy to spread knowledge about migraines and emphasize the value of finding the best treatment after the medication’s efficacy impressed her. Furthermore, her partnering up with Ubrelvy was a promotional venture that helped in enhancing her brand image.

Shaquille O’Neal’s business strategy sky-rocketed his wealth

Aside from his illustrious basketball career, Shaquille O’Neal has created a tremendous economic empire. When Shaquille O’Neal signed his first contract in 1992, he spent $1 million in a single day.  At the age of 20, O’Neal made some extravagant purchases, including two Mercedes Benz automobiles for his father and himself, each costing $150,000. He also demonstrated his generosity by buying his mother a car and paying off her mortgage. While the gesture was sweet, it wasn’t quite a smart financial decision.

However, Shaq soon learned from it. He now has a staggering net worth of $400 million. So, how did he do it? What is his business strategy?

His business strategy includes a wide range of activities, such as collaborations, brand endorsements, and autonomous business ventures. Shaq’s confidence in the effectiveness of franchising is the cornerstone of his plan. According to sources, he has made investments in and owned many franchises. This includes Icy Hot, Pepsi, Novex Biotech, the General insurance, Frosted Flakes, Reebok and so on. Shaq increased the popularity of well-known brands through franchising, bringing in a significant sum of money.

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The Los Angeles Lakers’ icon gained trust through his likeability, honesty, and wide appeal. This allowed him to land lucrative endorsement deals and grow his brand’s reach. In addition, Shaq has a diversified array of business partners and investments, including advertising agencies, media organizations, and brand management businesses. He has grown financially and acquired priceless industry expertise and insights by diversifying his assets and teaming up with profitable businesses.

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