Shaq Says He ‘Quadrupled’ Net Worth After Using An Investment Strategy From Jeff Bezos

Kevin Mwanza
Written by Kevin Mwanza
Shaq Bezos
Shaquille O’Neal attends the WarnerMedia Upfront at Madison Square Garden on May 15, 2019, in New York. (Photo by Evan Agostini/Invision/AP) Jeff Bezos unveils Blue Origin’s Blue Moon lunar lander, May 9, 2019, in Washington. (AP Photo/Patrick Semansky)

Basketball superstar-turned-angel investor Shaquille O’Neal said he quadrupled his net worth using a simple investment strategy he learned from Amazon founder Jeff Bezos.

Shaq said he picked a strategy from Bezos of making “investments based on if it’s going to change people’s lives.” A four-time NBA champion and one of the game’s all-time greatest, Shaq said he attributes this to the growth in his net worth.

“Once I started doing that strategy, I think I probably quadrupled what I’m worth,” he said, adding that he only buys into something that his heart is into.

“If something comes across my desk and I don’t believe in it, I don’t even look at it,” he said.

Shaq racked up about $300 million from his two-decade career in the NBA and invested in “almost everything” including Google and Apple shares. He also has stakes in 24 Hour Fitness, a few nightclubs, 17 Auntie Anne’s, a Krispy Kreme franchise and a Big Chicken restaurant in Las Vegas.

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His net worth, according to a Forbes 2019 listing, is about $400 million.

At the age of 20, Shaq said he blew through $1 million in just one hour after signing his first professional basketball contract in 1992.

“My method is old school. Of course, there’s a lot of money to be thrown around but when you’re raised by a military drill sergeant, you have to do business honestly,” Shaq told Yahoo Finance in a recent interview.