Monty - I see your Master P and raise you a Shaq
In 2012, The O'Neal Group partnered with Boraie Development, with financing from Goldman Sachs Urban Investment Group and other community investors, to purchase and renovate a movie theater in Shaq's hometown of Newark. The old theater was crumbling and in desperate need of repair. The re-opening of the CityPlex 12 introduced the massive renovations, totaling nearly $7 million, which included 12 brand new screens, digital projection, 3D capability, and stadium seating. The special 300-seat auditorium, called Shaq-DX, has a 47-foot screen, surround sound, and leather seating.
Shaq was also a pre-IPO investor in Google and can boast about being Twitter's very first verified account. It is obvious that he has a great eye for opportunity and doesn't hesitate to invest when he sees potential in a business. He has stakes in Muscle Milk and Vitamin Water, as well as the social media start-up, Tout, which was the platform he used to announce his NBA retirement. He owns 55 Five Guys restaurants, and multiple car washes and fitness centers. He is also the spokesperson for Dove Men, and recently became an investor in The Original SoupMan, a national food truck brand.
This past March, Shaq was asked to speak about entrepreneurship at South by Southwest in Austin, Texas. He told the crowd of 500, "I look for big dreamers, people like me." When seeking companies to invest in, he's interested in those that "help people, inspire people and change the world".
As shocking as it sounds, according to a recent Sports Illustrated report 60% of all NBA players are broke within just five years of retiring. Judging by the business empire that Shaq has managed to build off the court, I think it's safe to say he wont be part of that 60% any time soon. All NBA players, young and old, should pay attention to how Shaquille O'Neal used his on court success to transform himself from a professional athlete to a well diversified business tycoon. A tycoon who is on pace to be a billionaire in the next decade.
