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3 MAJOR Business Lessons from Shaq's Empire
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Jan 18, 2024
#money #blackexcellence #shaq Shaq is a basketball legend. But that's not all. He's also become a legend in the business world. With a net worth of $400 million, here is how the big man has continued to grow his empire since retiring from basketball. Link to "90 Days of Black Excellence" : https://a.co/d/0snjJq0 Subscribe to our channel so you don't miss any future videos! Add your email to our list to stay updated- BlackExcellence.com Check out the books we love and recommend in our Black Excellence Book Club: https://www.blackexcellence.com/store/ Some links are affiliate links, which means we earn a very tiny commission if you make a purchase. __________________________________________________________ Fueling your journey of excellence through wealth content. All content provided by Black Excellence Media, LLC is for entertainment purposes only. None of the information or advice provided is to replace professional advice.
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Four championship rings and a bigger-than-life persona has made Shaquille O'Neal a legend in the world of basketball
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But Shaq has quietly become a legend in the business world too by investing in everyday businesses that bring him millions of dollars every year
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In this video, we'll look at how Shaq has built his enormous business ventures and what you and I can learn from it
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I want to be something more than Shaq. See, the Shaq guy's going to fade away because you got Steph Curry and all these guys stepping up
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The Shaq guy will fade away at some point in time, but Dr. Shaquille O'Neal will be around forever
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Shaquille O'Neal was not always financially savvy. Like countless athletes that suddenly come into a lot of money, he blew through his early NBA earnings pretty fast
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In fact, he has told the story of him getting his first check and spending a million dollars
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yes, a million dollars in a day at the age of 20. But that hardly broke Shaq financial back, as just one of his contracts with the Lakers
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was 120 million seven-year contract back in 1995. And after a long career with the Orlando Magic, Lakers, Miami Heat, Phoenix Suns, Cavs, and Celtics
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it is estimated that Shaq has earned $292 million in his basketball career
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But Shaq didn't just lay back and enjoy his fortunes in retirement
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In fact, he jumped right into a super successful business career, and he attributes that to the learning from greats like Magic Johnson and Jeff
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Bezos when it comes to business Magic told Shaq about the importance of owning things and Bezos inspired Shaq to only invest in things that can change people lives Shaq also picked up a few business books and began to educate himself Shaq went on to get his master degree in business after feeling left out of business meetings
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And even paid for 15 of his friends to earn their masters. Shaq was already diversifying his income before he even left the NBA
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like most successful players do by signing endorsement deals and even getting into acting, I guess, with Kazam
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Who remembers Kazam? After all the fame and fortune, you would think a man with a celebrity status like Shaq would invest in flashy businesses
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But what Shaq has done is accumulate diverse everyday businesses that earn millions of dollars every day
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So let's take a look at these everyday businesses the basketball legend has invested in
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Shaq's first significant investment in a franchise was in the Burger Chain Five Guys
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Shaq at one time owned 155 Five Guys franchise, totaling 100 million in investment
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That amounted to more than 10% of the company's franchise portfolio at one time
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In 2016, Shaq sold every single one of his five-guy location for an undisclosed amount
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God only knows how much that was. I'm sure you've seen Shaq in those Papa John commercials, but he's even more than just the face of the company
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Shack actually owns nine Papa John's restaurants in and around the Atlanta area
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He has also served as a board member since 2019. Other food franchises Shack has owned over the years, has included Krispy Kremes and
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Auntie Ann pretzels Shack next stop in the food industry was starting up his own fast casual restaurant chain named Big Chicken He would name it Big Chicken Big chicken restaurants specialize in Louisiana fried chicken sandwiches
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that Shaq loves. This chain was founded in 2018 and currently has 18 locations with many more opening up soon across the country
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But fast food is not the only everyday business that Shaq has invested in
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The franchise king also owns 40, 24-hour fitness gyms and 150 car washes. Yes, that's right. Shack has invested in over 150 normal everyday car washes
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And you know a savvy investor like Shack doesn't just stop at owning franchises. He has also invested
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in several other companies like Reebok, Ring, Google, Pepsi, Apple, vitamin water, the general insurance
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gold bond, lift, and many, many more. Today's Shack's net worth is believed to be an impressive
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$400 million. So what can we little people learn from Shaq's giant business moves
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And I mean really little compared to Shaq. One of Shaq's biggest business rules is to invest in products and businesses he believes in
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I'm always telling people this. Speaking on this rule, Shaq said, if something comes across my desk and I don't believe in it
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I don't even look at it. My favorite story, I don't want to disrespect anybody, but after my first championship, Wheaties
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My people say, hey man, won't you be on the cover of Wheaties? I said, I can't do that
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They said, what do you mean, brother, breakfast champions? I said don know what it tastes like never going to taste it What do you mean I said the flakes is going to always be my first option if you want to talk cereal business with me It no secret that when you passionate about your business idea
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or wholeheartedly believe in the service or product you're backing, you're likely to work harder or stick with it through tough times
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So when you're considering investing in a business or starting up a side hustle
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ask yourself how much do you believe in what you are actually doing
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Another one of Shaq's strategies, and this is a big one, is that whenever he is asked to be the face of a company or product, he often takes a share of the business to do so
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That means when sales go up due to his advertising, he gets a cut of that income, which overtime is likely to surpass what he would have just been paid outright for being just the face
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Kevin Hart talks about this all the time. He normally takes a low upfront payment for his movies and decides to take royalties instead, which will get him
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paid for as long as that movie exists. So this is a huge one. Like Magic Johnson once told
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Shaq, fame is cool, but ownership is where the big game is. And nobody knows better than him
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because he turned down a Nike deal that would be worth billions today when they were offering him
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royalties for every single Nike that would have been sold. One of Magic Johnson's biggest regrets
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And one last lesson is, don't overlook businesses that are not glamorous or cool, like car washes
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The most sensible businesses might just be the ones you're overlooking. That's it for this episode
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We'll be back with more money talks. Don't forget to follow Black Excellence on Instagram
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and also you can follow me at directed by Jared
#Investing