Despite his extraordinary talent and skill in basketball, Shaquille O'Neal never wanted to limit himself to his primary profession; he was never a typical athlete, whether on the court or off. A media personality, an actor, a rapper, an NBA analyst, a DJ: Shaq can do it all.
However, one of O'Neal's most prominent characteristics is his impeccable knowledge of business and finance, something that wasn't common among athletes until recent years. Before it was considered unusual for players to become entrepreneurs and CEOs, Shaq was one of the first to break that stigma.
During his 19-year career, O'Neal earned himself over $286 million from contracts alone, a sum that would be more than enough for the average person. Still, Shaq never intended to stop there. Through a large number of brand deals, sponsorships, and endorsements, he built his wealth way over his contract earnings.
While it is easy to spend all that money, as most athletes do, Diesel didn't want to be part of the majority, so he did the hard part: investing his money and making it return with interest.
"I saw horror stories about how five years after professional athletes stop playing, they have nothing. I didn't want to be part of the horror stories, so I had to teach myself," Shaq said .
Today, O'Neal is a well-known investor and businessman who successfully transitioned from the NBA hardwood to the business realm. He built his diverse portfolio by focusing on ownership and equity, where he holds major stakes in various industries, including food, technology and retail.
O'Neal's empire stems from his investments in numerous businesses, including Authentic Brands Group, where he is the second-largest individual shareholder; Big Chicken, Shaq's fast-casual brand; and Papa John's, where Shaq sits on the board of directors with ownership of nine different locations. Some of O'Neal's most famous business ownerships included 155 Five Guys and 17 Auntie Anne's locations.
It's undeniable that O'Neal took the horror stories to heart, as he never intended to end up like some of his peers who faced bankruptcy. Still, he had to acquire some skills and knowledge before reaching a new level of success outside of basketball.
"I think for those who are not financially literate, learn this word: annuity," Shaq said.
While O'Neal didn't go into specifics on how he used an annuity, it's clear that he prefers long-term financial security and wealth over current pleasure from fast spending. After all, that's what an annuity is: an investment in the form of insurance, which grants the investor a series of annual payments over time.
O'Neal didn't become this knowledgeable and wise about finances overnight. He himself had a series of troubled spending habits and bad decisions, including the time he blew his first $1 million check in one day by purchasing cars and jewelry, before learning about taxes.
O'Neal ended up learning from his mistakes, practicing the "save 75 percent, have fun with 25 percent" rule to build for the future. With that, he was an early investor in Google, as well as Ring, before Amazon took over.
Thanks to that, O'Neal built his generational wealth and empire, through which he is keen on teaching people how to avoid the same mistakes he made, and emphasizing the importance of financial literacy.
This story was originally published by Basketball Network on Mar 31, 2026, where it first appeared in the Off The Court section. Add Basketball Network as a Preferred Source by clicking here.
