What Shaq Learned from Jeff Bezos to Build a Business Empire

Shaq is everywhere.

Whether co-hosting NBA on TNT with Charles Barkley, fist-pumping in Carnival Cruise Line commercials, or being the new “face” of Papa John’s, Shaq seems to be everywhere we look.

Most people know Shaq for his incredibly impressive NBA career.

However, few know how the Hall of Famer has had even greater success in the business world.

Shaq is giving new meaning to the term “retired athlete.” His business portfolio continues growing, making him more money than his entire NBA career. And that’s saying a lot since he earned over $200 million while active.

The conduit for his stratospheric business success came from advice from Jeff Bezos.

Let’s look at how Shaq went from an all-star on the court to a champion in the business world.

Shaq’s Basketball Money

As any sports fan will tell you, Shaq was one of the greatest, if not the greatest, “big men” basketball has ever seen.

He had a 19-year career and played for the Orlando Magic, Los Angeles Lakers, Miami Heat, Phoenix Suns, Cleveland Cavaliers, and Boston Celtics.

When Shaq played in the NBA, he earned roughly $292 million, with $200 million coming from endorsements.

That’s a staggering amount of bread, and most would be happy with that amount.

Not Shaq, though.

You see, O’Neil grew up incredibly poor in Newark, New Jersey. His biological father went to prison and left the family in hard times.

In an interview with the New York Post, Shaq explains,

“I came from nothing…But, just because I made it doesn’t mean I’m bigger than you, smarter than you — just because I have more money doesn’t mean I’m better than you. I’ve never been that way, and I never will be that way.”

It seems Shaq’s humble beginnings have contributed to his character and have left an impact on him never to be poor again.

Growing up poor has forced him never to settle and always to keep working for progress, especially regarding money.

Self-Discipline is the Way

As the story goes, while Shaq’s biological father was in prison, he was raised by his mother and stepfather, Phillip A. Harrison–a former drill sergeant in the army.

According to O’Neil, Harrison positively impacted how he approached finances while playing basketball.

Harrison taught him self-discipline — an attribute O’Neal says is critical for savers and those looking to improve their wealth.

“Every time an athlete would do something crazy, I would get in trouble for it. So my father did a very great job using scare tactics,” O’Neal recalls.

“A lot of athletes, when they’re done playing, they have no income. And they go broke. And I never wanted to be like that.

So even when I was making a lot of money playing basketball, I would come home and see my father, and [he’d] be like, ‘Yeah, but what are you doing with your money?’”

Shaq, who’s now a father of six children, is passing down the lessons of self-discipline he learned from Harrison to his own kids:

“I tell them all the time: ‘We ain’t rich. I’m rich.’”

Hysterical, but a vital lesson for these kids to earn their own way.

Shaq’s self-discipline didn’t stop once he retired from basketball, either. If anything, he now had more time on his hands to focus on growing his money.

Enter Jeff Bezos.

The Key Piece of Advice

On the court, Shaq was dominant.

But in the realm of business, “Big Diesel” was still a beginner.

O’Neil knew the basics of economics–he knew he needed to invest–but had no idea where, when, or how to do it.

So, Shaq, through his own self-discipline, chose to attend tech and business conferences to hear from the most successful people in the business world.

Jeff Bezos–the founder and creator of Amazon– was a guest at one conference.

If you just arrived on Earth yesterday, maybe you don’t know this, but Bezos is one of the wealthiest men in history, with a net worth of $198.6 billion. He was the main guest at the conference Shaq attended.

The interviewer asked Jeff Bezos, “How did you get so rich?”

Bezos replied, “I invest in things that change people’s lives.”

Did you catch that?

Bezos didn’t say he looks for the “lowest risks” or “highest returns.” None of that. He simply looks for business opportunities that’ll change people’s lives.

Shaq took notes and applied the lesson.

Shaq’s Net Worth Post-Basketball

So, what was the result of this life-changing advice?

It was Shaq getting to work, investing in, and acquiring businesses that would positively impact the lives of everyday people.

As of right now, Shaq’s net worth is $500 million.

At his current rate, he will become a billionaire within the next 5-7 years.

Look at his business portfolio as if his net worth wasn’t jaw-dropping enough.

According to the Los Angeles Times, Shaq is “...a big believer in franchising.”

Over the years, he has owned:

-40 24-Hour Fitness Gyms
-155 Five Guys Restaurants
-At least one Krispy Kreme Doughnut Shop
-17 Auntie Anne’s Pretzel Stands
-9 Papa John’s Pizza Places
-150 Car Washes

His Big Chicken chain will soon have 18 locations nationwide and on two Carnival Cruise ships. It also offers franchise opportunities.

He’s appeared in commercials for:

-Icy Hot
-The General Insurance
-Buick
-Frosted Flakes
-Novex Biotech
-Reebok
-Google
-Pepsi
-Ring
-Gold Bond
-JCPenney
-PointsBet sports betting
-Tonka

And people, there’s even more than what’s listed above.

It’s a far cry from his early career when he mainly relied on lucrative endorsement deals with Reebok, Taco Bell, and Pepsi to supplement his NBA salary.

The BMM Takeaway

The key takeaway is never to settle and always stay a student.

Shaq could’ve taken his NBA earnings, moved to Palm Beach, and played golf for the rest of his life.

He didn’t. He chose to fulfill his potential not only as a personal brand but as a business mogul and magnate.

Sure, he’s made even more money yes, but the real secret sauce is maxing out your potential and not leaving anything on the sidelines.

Shaq abandoned the “retired” athlete” stigma and branched out of his comfort zone. Business is his second run, and he’s going for Wall Street titles.

He voluntarily exited his comfort zone to learn. He chose the path of a rookie.

Most people think knowledge is power. That’s not quite accurate.

Knowledge on its own is useless. Applied knowledge is true power.

The beautiful part about this is that his money came from applied knowledge from one of the greatest people ever to do business. And the knowledge Shaq applied from Bezos was to invest in avenues that positively impact people’s lives.

Value is the secret.

Money will never be a worry if you can constantly and consistently bring value to the marketplace. The marketplace will always pay handsomely for solving problems and providing solutions.