'I Would Lose Almost Every Time' – Shaq Admits He Invested His Money Blindly Before Meeting Jeff Bezos–'He Explained What The Future Holds'

Shaquille O’Neal is known for many things – NBA legend, charismatic TV personality, business mogul and an all-around big personality. But even Shaq, with his massive success, didn’t always have it all figured out, especially when investing his money. In a 2020 Forbes interview, he admitted he used to invest blindly and, as he puts it, “I would lose almost every time.” It wasn’t until a fateful meeting with Jeff Bezos that Shaq’s entire approach to money changed.

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Learning the Hard Way

When Shaq started making big money from his basketball career and endorsements, he thought investing was simple. You put money in and it should grow – right? But it didn’t always go that way for Shaq. “When I first started investing, it was all for monetary purposes only. You could tell me anything and if it sounded good, I would invest,” he said. The result? Losses. 

Shaq was open about his early mistakes, sharing that his motivation was simply to make more money without understanding what he was getting into. He was taking chances on anything that sounded promising, but his investments frequently failed because he lacked a solid plan.

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Everything changed after a conversation with Jeff Bezos at CES in Las Vegas. Shaq described meeting this “young, beautiful man” as a turning point in his financial journey. Bezos told Shaq that most businesses are moving online and that “he invests in things that are going to change peoples' lives.” This advice completely reshaped how Shaq approached his money. “He explained what the future holds,” Shaq recalled.

After that meeting, Shaq started looking at his investments differently. He asked himself a crucial question: Is this going to help people in their lives? If the answer was yes, he invested. One of his most notable investments was in Ring, the home security company. “I liked what they were doing because everybody wants affordable home security that makes them feel like a trillionaire,” he said. It also worked for people and he liked that.

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This shift in mindset has paid off for Shaq financially and personally. His holdings span various industries, including esports, tech, food and real estate. More significantly, though, he takes pride in that his investments are positively impacting.

“People look at me and say that I'm successful, but I'm not the guy who has all the answers in business,” Shaq said.

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