Shaquille O’Neal is one of the most beloved international athletes by the public thanks to the charism that has demonstrated both on and off the court. His 19 years of sports career contributed the most prestigious trophies and awards, but attributes his great fortune to A advice from Jeff Bezos.
The Jeff Bezos effect. According to The American medium Celebrity Net WorthShaquille O’Neal has an estimated assets of 500 million dollars. The popular NBA player, revealed In an interview for The Wall Street Journal How he managed to multiply his fortune by four.
The secret of its financial success lies in a significant change in its way of investing. O’Neal decided to adopt the investment philosophy of the founder of Amazon, Jeff Bezos. “I heard Jeff Bezos say once he makes his investments based on whether they are going to change people’s lives. Once I began to use that strategy, I think I probably quadrupled my heritage,” explained the former sportsman.
Invest in what you think. The change of approach inspired by Bezos led O’Neal to assess the sense of investments and not so much short -term profitability. As explained in the interview, the athlete tries to invest in those proposals that are aligned with their personal values and tastes. “When I do business it is never the economic aspect. It’s about changing people’s lives,” said the former Lakers player.
That led him to invest in companies that did products that he liked. Among its investment portfolio we find the Apple technology, the Pope John’s pizzas, the Five Guys hamburgers or Krispy Kreme’s breakfasts. “Krispy Kreme makes fabulous donuts. I met them at the university and I have been in love with their donuts since then and now I have some of their franchises. I will try to get some more. I want to be part of that business, “O’Neal confessed.
Google’s miracle. During his interview, O’Neal confessed that one of his best investments by far almost by chance. Someone came to tell him about a new technological company that was taking off. It turned out to be Google.
The millionaire did not give details about the amount of investment, but according to data from the Investment portal The Montley Foolan investment of $ 10,000 in Google in 2004, today it would be valued at more than $ 300,000. “I invested in it and completely forgot. After time I read an article about the great success of the first investors,” said the four -time NBA champion.
Jeff Bezos took Amazon. Jeff Bezos’ advice made, for the hazards of destiny, Shaquille O’Neal did a good business at the expense of Amazon.
O’Neal wanted to improve the safety of his home, so he decided to try some Ring home products. What he saw so much that he not only bought the products, but also invested in the company. In 2018, Amazon bought ring for 1 billion, multiplying the initial investment of O’Neal.
Invest in companies, not in benefits. The investment philosophy that has led Shaquille O’Neal to success It is not very different of which the fortune of one of the investors has been holding for six decades more respected from Wall Street: Warren Buffett.
According to Buffett, the Secret to hit It is investing in business models, with stable economic characteristics and reliable managers, maintaining their positions for long periods, instead of operating based on short -term price fluctuations. Like O’Neal, Buffett has been investing in products that he personally consumes, as in Coca-Cola, the brand that manufactures Your favorite soda.
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Image | Flickr (Ukinusa, Techcrunch)