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3 Friday, July 12, 2019 06:07

Shaquille O'Neal says he 'quadrupled' his net worth after adopting an investment strategy he learned from Jeff Bezos

Theres nothing average about the former basketball star turned angel investor Shaquille ONeal. So when he says he probably quadrupled his net worth using a simple investing strategy, its worth paying attention to. In a recent interview with The Wall Street Journal, ONeal said: I heard Jeff Bezos say one time [that] he makes his investments based on if its going to change peoples lives, and once I started doing that strategy, I think I probably quadrupled what Im worth.

That adds up. During his 19-year career in the NBA, ONeal racked up about $300 million, which he has used to invest in everything from early stakes in Google and Apple to an empire of Vegas nightclubs and fast-food franchises like Five Guys, Auntie Annes, and Papa Johns, according to Money. Since retiring from the league in 2011, ONeal has been an outlier in the trend of professional athletes that struggle with finances post-retirement.

ONeal took his earnings and reinvested them according to what he liked, he told The Wall Street Journal. Read more: More $10-plus billion companies have gone public in 2019 than at the height of the dot-com tech bubble. Heres how their businesses compare. If something comes across my desk, and I dont believe in it, I dont even look at it, ONeal told The Wall Street Journal.

Whenever I do business, its not about the money. He said Google has been his best investment by far, but he most enjoys his investment in the Krispy Kreme doughnut chain. I like donuts .

.. Krispy Kreme is a fabulous donut. I was introduced to it in college and have been in love with it ever since, ONeal told The Wall Street Journal. .

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News Code: 237070  |  Insider
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