Shaquille O'Neal Tells The Most Eye-Opening Investment Advice He Ever Got And It Was From An 80-Year-Old—'He Taught Me A Word I Never Heard'

Shaquille O'Neal has built a fortune that stretches far beyond his legendary NBA career. He's not just a businessman; he's a calculated investor who has made some incredible bets. But he wasn't always this savvy when it came to managing money. It took one conversation with an 80-year-old man driving a Rolls-Royce to completely change his mindset.

The Lesson That Changed Everything

Shaq shared the story on his YouTube show, “The Break,” in an episode focused on investing. “I used to see this rich guy, really rich, older—like 80—driving a Rolls-Royce,” Shaq said. Curious, he asked the man how he became so wealthy. Instead of some complex financial strategy like risky stock picks or flashy real estate deals, the man simply told him about annuities, an investment where you put money in now and receive steady payouts later. It's like setting up a guaranteed retirement income.

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From Fast Money to Smart Money

Shaq was making millions from endorsements and commercials, but he didn't know what to do with it. “I was making so much money from commercials and all, I didn't know what to do with it,” he admitted. The advice clicked. The older man explained that if Shaq invested wisely, he could ensure a steady flow of money instead of spending everything or chasing quick returns.

It was the best advice he ever got, and it completely shifted how he viewed wealth. “All this money you're making, if you save it, you can invest it and start collecting at 50, 60 and 70,” the man told him. That conversation taught Shaq the importance of steady growth and financial security instead of gambling on short-term wins.

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Learning From The Best

Shaq's investment strategy evolved even further when he took a page out of Amazon founder Jeff Bezos’ playbook. “I heard Jeff Bezos say one time [that] he makes his investments based on if it’s going to change people’s lives. Once I started doing that strategy, I think I probably quadrupled what I’m worth,” Shaq said in a 2019 The Wall Street Journal interview.

Instead of just investing in trending companies, he began focusing on businesses that had a real impact. This led him to major wins, like being an early investor in Google and betting on Ring, the home security company that Amazon later bought for $1 billion.

Disclaimer: Some elements of this story were previously reported by Benzinga and it has been updated.

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