Shaquille O’Neal revealed a business secret he learnt from Amazon founder Jeff Bezos that has helped him earn millions.
In March, NBA icon O’Neal invested in Campus, an online community college startup, after turning to Bezos for inspiration.
O’Neal told Fortune that his decision to invest an undisclosed amount in the startup ultimately came down to his belief that Campus could “change people’s lives”, something which Bezos insists should be at the centre of investment opportunities..
“I heard Jeff Bezos say, if you invest in things that’s going to change people’s lives, you’ll always get a great return on your investment,” O’Neal said. “But this particular investment is not about great return because I feel that everyone should have access to world-class education.”
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That was not the first time Bezos influenced O’Neal’s business decisions however. In 2022 the basketball Hall of Famer admitted he was “scared” off from making a bid to buy the Phoenix Suns after reading Bezos was also considering making an offer for the team.
O’Neal admitted at the time that he’d rather not compete against Bezos and any other “heavy hitters” who were eyeing the Suns, who were ultimately sold to billionaire Matt Isbhia.
Speaking to the Heavy Hitters podcast, O’Neal said: “Jeff said he wants it, and a couple of other heavy hitters said they want it. I’m not even going to put my name in the bucket on this one. I’m not.”
The NBA icon has long touted Bezos’ advice to seek out investment opportunities that could “change people’s lives.”
“If something comes across my desk and I don’t believe in it, I don’t even look at it,” O’Neal told The Wall Street Journal in 2019.
“Once I started doing that strategy, I think I probably quadrupled what I’m worth,” he said.
O’Neal’s investment track record includes a number of successful plays Google, Lyft, Ring and Vitaminwater, along with owning franchises of businesses such as Papa John’s, Auntie Anne’s, and Five Guys.
Topics: Shaquille ONeal
Chris Byfield