Shaquille O'Neal has made many bold moves throughout his career, but few are as memorable as his decision to pass on a lucrative Wheaties sponsorship after his first NBA championship.
The iconic cereal brand wanted him on their box, a symbolic and lucrative nod to champions everywhere. But Shaq turned them down. His reasoning was simple yet striking. As he explained in a WSJ interview, "I can't lie to the people," he said. "Frosted Flakes will always be my first option if you want to talk cereal business with me. And Fruit Loops, then Fruity Pebbles. Period, there ain’t nothing to talk about."
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According to Shaq, being loyal to himself is more important than making money. "When I do business, it's never about the monetary aspect. It's about changing people's lives," he explained.
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A Business Portfolio Built on Gut Instinct
One of Shaq's earliest and most successful investments was in Google. He overheard a conversation about the search engine's potential while hanging out at the Beverly Hills Hotel and decided to invest. At the time, he barely understood the scale of the opportunity, but it paid off handsomely. "It's about being in the right place at the right time," he reflected.
Shaq's franchise portfolio is another highlight of his business career. His favorite is Krispy Kreme. "I like donuts and Charles Barkley loves donuts," he joked, calling his NBA colleague his "biggest customer." Beyond the laughs, Shaq saw the potential for Krispy Kreme to grow and he planned to expand his involvement in the business.
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Franchising, Shaq says, is attractive because it's about partnering with "reliable, excellent brands." Inspired by Magic Johnson's advice to "start owning things," Shaq has also invested in 24 Hour Fitness gyms, Five Guys restaurants, car washes and real estate projects – including efforts to redevelop parts of Newark, New Jersey.
Reinventing Fun with Carnival Cruises
Initially skeptical about cruises, he took a tour of a Carnival ship and was blown away. "It was one of the best things I've ever seen in my life," he said, describing the basketball courts, restaurants, swimming pools and activities for kids. His job now is to show people how fun and affordable cruising can be as the “Chief Fun Officer.”
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In typical Shaq fashion, he used his partnership with Carnival to launch his Big Chicken restaurant’s first location on a Carnival ship in 2020. For Shaq, it's all about spotting opportunities that align with his values and having fun while doing it.
Whether it's passing on Wheaties for Frosted Flakes or turning a casual conversation into a Google investment, Shaq's story shows the power of staying authentic and seizing the right opportunities. And with his unique mix of business savvy and larger-than-life personality, Shaq's legacy is sure to last far beyond his basketball career.
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