NBA legend Shaquille O'Neal helped to create $1 billion company after refusing to pay $80,000 bill

Legendary basketball player Shaquille O'Neal once helped create a $1 billion after refusing to pay a $80,000 bill.

As one of the biggest stars in NBA history, it's fair to say that Shaquille O'Neal earned a tidy fortune during his career.

The former center has splashed out on a few luxuries over the years, including a $27 million private jet and three different houses in Atlanta.

Of course, as such a high-profile individual, O'Neal had to invest in top-quality home security to ensure the safety of himself and his family.

But when he contacted a security company to install a new security system at one of his homes, he was stunned with a quote for $80,000.

Shaq might well have a net worth of more than $500 million, but he wasn't prepared to get ripped off.

Instead he decided to look for a cheaper solution and ended up buying some Ring cameras while shopping at Best Buy.

"The crazy thing about it is I hooked it up myself," Shaq - proud of his DIY skills - said during an interview with Earn Your Leisure.

Shaq installed the camera, but he didn't realise the potential of the technology until he was travelling in China.

When he saw he could see and talk to someone at his front door from halfway around the world, it clicked that the company could be worthing investing in.

He tracked down the company's booth at a tech conference and made am offer to the CEO.

"I said, ‘Hey, my name is Shaquille O'Neal. I want to invest in your company, and you're going to pay me to do commercials, and then whatever happens happens'," Shaq said.

The CEO agreed and Shaq became an early investor in Ring. A few years later, Jeff Bezos bought Ring for $1 billion.

Not only did O'Neal save a significant amount of money on his home security, but he made a lot of money through his investment. He has never disclosed how much his investment returned.