Magic Johnson told him he needed to start ‘owning’ things. That’s brought Shaquille O’Neal here, among Ebony’s Power 100. The magazine is recognizing decades of the big guy building a business empire that’s purpose-driven. From Big Chicken honoring his mother and spreading smiles to joining Jacmel to improve his hometown’s infrastructure, O’Neal’s business decisions all trace back to Earvin “Magic” Johnson. Magic, as well as Junior Bridgeman, remain O’Neal’s standards for success. Funnily enough, they’ve not received the honor Shaq just got.

Shaq is the 2025 Entrepreneur of the Year for putting purpose into business, just as his mentor advised. As the magazine states, “From court huddles to the boardroom, @Shaq keeps leveling up. Honored as the 2025 Entrepreneur of the Year, he’s proof that purpose and profit can share the same jersey. Read how he’s scaling legacy beyond the game.”

When the then LSU superstar and #1 draft pick came into the league, this wouldn’t have been the case. Rookie Shaq was all about diamond chains and Bentleys. He famously spent a million in a day before he knew what FICA was. Before Shaq became that dreadful stat about retired players, Magic Johnson had to swoop in.

“It’s OK to be famous, but you want to start owning things,”  is the advice that stuck with Shaq. Magic retired a littler earlier than he should’ve in 1991 after his HIV diagnosis, but had built his empire in Starbucks, Equitrust, the now defunct Magic Johnson Theaters, and an erstwhile ownership in the Lakers.

Magic Johnson hit a net worth of $1.2 billion in 2023, when he joined the ownership group of the Washington Commanders. He left the Lakers but continues to be a co-owner of the Sparks (WNBA), Dodgers (MLB), LAFC (MLS), the Commanders (NFL) and most recently, the Washington Spirit (NSWL). Not to mention his investments into eSports and multiple minority businesses.

Shaq wanted to be in the same club as his idols, Magic Johnson and Michael Jordan. He’s close and has at least one bragging right over them.

Shaquille O’Neal’s close to his idols

Junior Bridgeman set the blueprint for the post-NBA life, inspiring athletes to think beyond their playing careers. Shaquille O’Neal confessed his dream used to be a lot more modest than that. “My dream was to make $8 million [over] 10 years,” he said on the Pivot podcast earlier this year. The “money changed” and so did his dream.

While Shaq was not turning selling a Coca-Cola plant and buying into a franchise like the Bucks as Bridgeman did, he was following Michael Jordan’s tactics. The Jumpman had Nike, so Shaq joined Reebok. He branched into the Jordan Brand under Swoosh, the big guy broke off from Reebok to create the SHAQ brand of affordable sneakers. MJ told Chuck to get paid in stock, Shaq still does endorsement-for-stock deals. O’Neal orchestrated Authentic Brands Group’s acquisition of Reebok so he could compete with Nike once more.

Shaq regrets not taking Magic’s advice and investing in Starbucks, but he followed his investment portfolio. O’Neal built a franchising empire with Five Guys, Papa John’s Krispy Kreme, and 24 Hour Fitness. He’s not gone into team ownership yet except for a brief minority stake in the Sacramento Kings, but he wants to own a brand new NBA franchise preferably in Las Vegas.

He’s also doing what Magic and Jordan never did – deejaying and hosting over 15,000 people in his own festivals like Bass All-Stars and Shaq’s Fun House.

When Junior Bridgeman passed away in March 2025, Shaq told his TNT colleagues, “A lot of people don’t know this, but I’ve patterned my whole business acumen after Junior Bridgeman. They always tell us stories about 75 percent of athletes, zero to five years after they’re done playing, go broke.” He further added, “And I never wanted to be that. So, I started looking at people. Michael [Jordan], of course, Magic [Johnson]. But I remember one time a Forbes list came out, and I was like, ‘I know them all on this list, all the commercials I do,’ and I saw his name. I reached out to him, and I started talking.”

Funny he didn’t call Magic about it himself. Shaq’s humble dream has grown into wanting to join Magic and Jordan in the Forbes 500 list. With a $500 million net worth, he’s halfway there rapidly. Perhaps Ebony’s award is the biggest acknowledgement of that fact. Magic, Jordan, and Bridgeman have not received the same honor in the past. However, they deserve credit for Shaq getting there.