"Give me $10M. Four years, it'll be 300" - Shaq reflects on early gullibility that nearly ruined him as businessman
Shaquille O'Neal was one of the first to challenge the stigma that athletes couldn't become successful businessmen. With each new business deal he makes, Shaq is breaking barriers that were previously thought to be indestructible.
O'Neal's NBA career earned him approximately $286 million, while his business ventures led him to build a financial empire, with a portfolio worth around $500 million. However, everybody knows that the most successful people have made the most mistakes to reach the top, and the four-time champ is no different.
"What's the biggest money mistake you've made? " a reporter asked O'Neal in a 2019 CNBC interview. "A lot. Again, when I was younger. 'Hey, give me a million, and in about three years, it will be 10 million .' Deals like that I would take every time. 'Give me 10 million. Investments in this company.' Boom, boom, boom. 'Four years, it will be worth 300 million.' You can get me like that."
"From like 19 to 26, anybody could come to my office, tell me that deal and I would take it right away. No research, no due diligence. If I get your million now, boom, boom, boom, in a couple years, it will be a couple million. I'll do that deal. Because I was trying – but you know, once I stopped focusing on that, I started paying attention and looking at things, I became a little bit more successful," O'Neal answered.
The turning point
After a while, a turning point had to come and for O'Neal, it was in Las Vegas, at the Consumer Electronics Show, where he heard the world's biggest businessman discuss the proper ways to invest.
"I don't want to sit up in here and act like I'm the smartest guy in the world. I heard the great Jeff Bezos say if you invest in stuff that's going to change people's lives, most of the time you will win," O'Neal said.
O'Neal's biggest trophies outside of basketball are the ones from Google and Ring, where he holds the most pride; he didn't just invest in tech, but rather in people.
His only focus is to improve somebody's day-to-day life, no matter the cost. A proper win-win scenario. Early start-ups, fast food chains, apps and shoe brands – O'Neal has done it all, and is yet to finish.
The developmental mistakes of athletes
O'Neal's mistakes at the beginning of his career mirror the same problems most young athletes face. Impulsive trust, greed and instant gratification. Those are all attributes of people who lack the proper financial knowledge and tools.
Because of that, young athletes become targets in the business space. They have the resources, but often lack the educational foundation. Due to their lack of financial literacy, they can easily be taken advantage of. Everybody is out to get them: financial advisors, high-risk businesses and even families and friends.
No research, no evaluation and no verification. O'Neal's former inexperienced approach portrays most athletes' financial downfalls. All they need to hear is one large number, and the rest follows: overleveraged deals, speculative ventures and overall bad investments that lead to large losses, or even worse, bankruptcy .
Related: Former NBA player details how his $2.2 million private island became a resort
The mistake fixer
Due to the sudden financial change, most players fall into the trap of learning from their own mistakes rather than those of others , and the development comes later. Shaq frames the shift clearly: stop chasing the multipliers, start reading, start educating yourself, and, most importantly, slow down.
O'Neal's advice highlights his improvement as an investor, from a reactive one to a disciplined one. He transitioned from a reckless, high-risk businessman to a well-polished, knowledgeable one. He is mostly known for his conservative approach to high-visibility investments: franchises, major equity stakes, stocks, brand partnerships, etc.
O'Neal is speaking from experience, and he certainly has stories to tell and knowledge to share outside of basketball. He is not your ordinary athlete, and other younger players looking to build their wealth over time should definitely take notes.
This story was originally published by Basketball Network on Nov 29, 2025, where it first appeared in the Off The Court section. Add Basketball Network as a Preferred Source by clicking here.
