Shaquille O’Neal is a retired basketball player. He is also an entrepreneur and a TV host. His net worth is $350 million. Let’s delve into how Shaq’s net worth came about:
Basketball
Shaq’s basketball career was successful by many standards. He had 791 rebounds in 1989. This remains a state record to date. In 1996, Shaq was part of the basketball team that won an Olympic gold medal. He joined the LA Lakers after signing a 7 year deal worth $121 million. LA Lakers won the NBA championship in 2000. They won it for 2 more years in a row.
In 2004, Shaq signed a 5 year contract with the Miami Heat for $100 million. He won his 4th NBA championship when playing for Miami Heat in 2006. He retired 5 years later. He had played for several teams including…show more content… Endorsements
Shaq has endorsement deals with Icy Hot, Buick, Gold Bond, and Zales. Shaq is an astute businessman. He set up a very strategic meeting, the Shaq Summit. His endorsement partners gather in his home to make 15-minute presentations. This way, he gets more endorsements. Shaq also targets his endorsements at the ‘regular people’ who do not make much money. They can go for Shaq’s lower priced line. Shaq is Dove Men’s spokesperson.
Investments
Shaq makes more money in retirement. He makes $20-25 million per year. He is a joint owner of several business ventures: 155 Five Guys Burger Restaurants, 150 car washes, a shopping center, several Las Vegas nightclubs, 17 Auntie Annie Pretzels Restaurants, 40 24-hour fitness centers, and a movie theater.
Shaq was a pre-IPO investor in Google. He has stakes in Muscle Milk, Vitamin Water, and Tout, a social media start-up. Recently, he invested in The Original Soupman, a food truck…show more content… In partnership with MDM Development, he created Met Miami, a complex in Miami. It includes a Marriott hotel, offices, and a 24-hour fitness center.
Movie Theater
In 2012, in partnership with Boraie Development, Goldman Sachs Urban Investment Group, and community investors, O’Neal Group purchased and renovated a movie theater in Newark. The CityPlex 12 now has digital protection, stadium seating, 12 new screens, and 3D capability.
Career Beginnings
Shaq began to gain attention for his talent in basketball when he was in high school. He led the Robert G. Cole team to the state championship in his senior year. He became a two-time SEC player and a two-time All American when he was at the Louisiana State University. In 1991, he received the Adolph Rupp Trophy for being NCAA’s men basketball player of the year. The AP and UPI named him the college player of the year in 1991. He is a member of the Louisiana State University Hall of Fame.
He was the #1 pick for the Orlando Magic in 1992. He was crowned the rookie of the year in 1993. He was voted an All Star-starter, a feat that had not been achieved since Michael Jordan’s time. Shaq helped the Magic to make their way to their first ever play-off series in his second season. They made it to the finals the following