Shaquille O’Neal, renowned for his basketball prowess, also excels in business. The sporting icon, known as Shaq, secured four NBA championships during his career. At 52, he boasts three titles with the Los Angeles Lakers (2001-2003) and one with the Miami Heat in 2006.
Off the court, Shaq ventured into various pursuits, including a surprising multi-million-dollar investment linked to a security issue. How did the former basketball star achieve this?
During his prime, Shaq owned three homes in Atlanta. Given his fame, he sought security for his luxurious properties. A quote for $80,000 security for one home seemed exorbitant to him, despite his wealth.
Shaq is an incredible investor.
In 1999 he invested in Google (pre-IPO) after overhearing two people talk about it in a hotel lobby.
Shaq invested in Google’s Series A at a $100 million valuation (now worth $1.9 Trillion)
Shaq still owns some of those shares (a 20,000%… pic.twitter.com/po52z4T81e
— Andrew Lokenauth | TheFinanceNewsletter.com (@FluentInFinance) April 29, 2024
Seeking alternatives, Shaq found a Ring camera at Best Buy. Although Ring is now well-known, it was less so back then. Shaq decided to try the security kit and installed it himself. He expressed his admiration for the product during an interview with Earn Your Leisure.
In 2015, Shaq approached Ring’s CEO, Jamie Siminoff, at a consumer electronics show. He introduced himself and proposed an investment in exchange for commercial appearances. Shortly after, Shaq invested $1 million in Ring.
The company flourished with Shaq’s investment. Richard Branson invested $28 million in 2015, and Jeff Bezos later acquired Ring for $1 billion. Shaq surely appreciates not spending $80,000 on traditional security.
What Other Media Are Saying
- Sportbible details Shaquille O’Neal’s $1 billion investment, from refusing an $80,000 bill to creating Ring cameras.(read more)
- Sportskeeda provides a detailed account of Shaquille O’Neal’s $1 million investment in Ring, which eventually led to a $1 billion valuation after Amazon’s purchase. The article highlights O’Neal’s entrepreneurial ventures and his significant returns from Ring, as well as his broader business interests, including real estate and franchise investments.(read more)
- Benzinga highlights Shaquille O’Neal’s decision to invest in Ring after refusing to pay $80,000 for security, and his subsequent $1 billion payout when Bezos bought the company.(read more)
Frequently Asked Questions
Here are some common questions asked about this news
How many NBA championships did Shaquille O’Neal win?
Shaq won four NBA championships.
Which teams did Shaquille O’Neal win NBA championships with?
Shaq won with the Los Angeles Lakers and Miami Heat.
How did Shaquille O’Neal get involved with Ring?
Shaq bought a Ring camera for home security and later invested in the company.
How much did Shaquille O’Neal invest in Ring?
Shaq invested $1 million in Ring.
Who bought Ring after Shaquille O’Neal invested?
Jeff Bezos bought Ring for $1 billion.