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Karen Alfaro
WriterCommunications professional with a decade of experience as a copywriter, proofreader, and editor. As a travel and science journalist, I've collaborated with several print and digital outlets around the world. I'm passionate about culture, music, food, history, and innovative technologies.
Former NBA player Shaquille O’Neal is one of the world’s most beloved athletes, thanks to his charisma on and off the court. His 19-year sports career brought him prestigious trophies and awards, but he attributes his great fortune to a tip from Amazon founder Jeff Bezos.
The Bezos effect. According to Celebrity Net Worth, O’Neal’s estimated net worth is $500 million. The former basketball player told The Wall Street Journal how he quadrupled his fortune.
The secret to his financial success lies in a major shift in his investment strategy. O’Neal adopted Bezos’ investment philosophy: “I heard Jeff Bezos say one time [that] he makes his investments based on if it’s going to change people’s lives. Once I started doing that strategy, I think I probably quadrupled what I’m worth,” he said.
Invest in what you believe in. The Bezos-inspired shift led O’Neal to prioritize long-term value over short-term returns. As he explained in the interview, he focuses on investments that align with his personal values and interests. “Whenever I do business, it’s not about the money,” he stated.
That philosophy led him to invest in companies that make products he enjoys. His investment portfolio includes Apple, Papa John’s, Five Guys, and Krispy Kreme. “Krispy Kreme is a fabulous donut. I was introduced to it in college and have been in love with it ever since, and now I have a couple of their franchises. I’m trying to get some more. I want to be a part of this business,” O’Neal said.
The miracle of Google. During the interview, O’Neal revealed that one of his best investments happened by accident. Someone approached him about a new technology company on the rise—it turned out to be Google.
He didn’t specify the size of his investment, but according to The Motley Fool, a $10,000 investment in Google in 2004 would be worth more than $300,000 today. “I invested in it and completely forgot about it. After a while, I read an article about the great success of early investors,” the four-time NBA champion added.
Bezos led him to Amazon. As fate would have it, Bezos’ advice led O’Neal to a profitable deal at Amazon’s expense.
O’Neal wanted to improve his home security, so he checked out Ring’s home products. He liked them so much that he bought the products—and invested in the company. In 2018, Amazon bought Ring for $1 billion, multiplying O’Neal’s initial investment.
Investing in companies, not just profits. O’Neal’s investment philosophy is similar to the one that has shaped the fortune of one of Wall Street’s most respected investors: Berkshire Hathaway CEO Warren Buffett.
According to Buffett, the key to successful investing is to focus on business models with stable economic fundamentals and strong management, holding investments for the long term rather than trading based on short-term price fluctuations. Like O’Neal, Buffett has spent decades investing in the products he personally uses—one of them being Coca-Cola, the brand behind his favorite soft drink.
Image | TechCrunch | National Museum of American History Smithsonian Institution
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