Basketball legend Shaquille O'Neal, known for his remarkable career in the NBA, has amassed a fortune estimated at around $400 million. Much of his wealth comes from his investments in various popular restaurant chains.
According to the Findingfuel website, O'Neal owns an impressive portfolio of eateries, including 17 Auntie Annie's Pretzels, nine Papa John's pizza outlets, a Krispy Kreme, and a Big Chicken restaurant, which is expanding its reach through franchising. Previously, he also had a stake in 155 Five Guys burger joints.
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Shaquille O'Neal: From NBA Star to Business Magnate
Attendees at the International Franchise Association conference in San Diego last February were pleasantly surprised to see former NBA star Shaquille O'Neal among the speakers. O'Neal shared with CNBC at the event, "Magic Johnson taught me that being a great basketball player is good, but eventually, you should start investing in businesses."
The young athlete who once spent a million dollars in one day after joining the Orlando Magic in 1992 has come a long way. With a career spanning 19 years in professional basketball and intelligent investments in various restaurant chains and fast-food franchises, O'Neal's wealth has soared.
Today, his net worth made him one of the wealthiest NBA players, trailing only behind icons like Michael Jordan, Magic Johnson, Junior Bridgeman, and LeBron James, who tops the list with a billion dollars.
"The franchise is a simple model. If it works, you follow the rules, and it will continue to work. If you stick to the values you've learned, you can't go wrong," O'Neal explains.
This mindset has transformed him into a franchising giant. O'Neal, who holds an MBA from the University of Phoenix and a Ph.D. in Education, once remarked at his graduation, "It's just something to have on my resume for when I return to reality.
He added that someday, he might have to put down a basketball and have a regular 9-5 like everyone else. His educational achievements and business acumen demonstrate his preparedness for life beyond the basketball court.
Shaquille O'Neal: Food Franchise Investments
O'Neal told over 3,000 franchise professionals at the International Franchise Association's 2022 Annual Convention that he wanted to thrive in business to escape the 60% of NBA players who go broke. Through his investments, O'Neal has built generational riches and inspired others. An example is his founding partnership with Majority, a varied advertising business with a talent approach.
O'Neal has multiple culinary franchises. He bought the famed Krispy Kreme store on Ponce de Leon Avenue in Atlanta in 2016 and became its face, marketing its over 1,300 outlets worldwide. In 2019, O'Neal bought nine Atlanta Papa John's restaurants and became a brand ambassador. This move follows the pizza chain's former CEO's scandal and symbolizes O'Neal's franchising expansion.
He started in fast food with Five Guys, buying a restaurant in Atlanta in 2008 and having 155 outlets before selling them. O'Neal also sold seventeen Auntie Anne's Pretzel franchises worth roughly $6.5 million. These ventures show O'Neal's economic understanding and strategies for long-term wealth-building after basketball.
After retiring from basketball, O'Neal, known as The Big Diesel, built a vast business empire. He makes money from creative projects and corporate endeavors. With 50 enterprises, O'Neal's investment portfolio is extensive and diverse.
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