Shaquille O'Neal, a former NBA player, explained an investment philosophy he learned from Jeff Bezos, the creator of Amazon, which he claims has guided his strategy ever since. “I was at a tech conference in Vegas and I heard the great Jeff Bezos say ‘If you invest in things, it’s going to change people’s lives,’ you will definitely get a nice return,” he recalled, speaking CNBC’s Hadley Gamble in Abu Dhabi Sunday.
O’Neal added his own ten cents: “Never think about the monetary aspect ... it’s not important to me.” “It’s basically based on one principle — belief. [Do] you believe in the product? Is it gonna change people’s lives? ... That’s what it is about for me,” he added.
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O'Neal has achieved success outside of basketball since ending his 19-year career in that sport in 2011. The 50-year-old was a pioneering Google investor who has since amassed a broad portfolio that includes holdings in Apple, 17 Auntie Anne's, 40 gyms, and more than 100 Five Guys restaurants. Additionally, he started the Big Chicken fast-food franchise.
NBA-related controversies in China:
O'Neal acknowledged that he is bothered by the NBA's presence in China when questioned about the issues surrounding it. After an almost three-year hiatus, NBA resumed broadcasting on China's state-run TV network in March of this year.
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2019 saw the beginning of the conflict between China and the NBA after Daryl Morey, the executive in charge of the Houston Rockets at the time, posted a photograph in support of Hong Kong's pro-democracy demonstrators. Games were removed from the air as a result of the post, and Chinese businesses stopped sponsoring the league.
“I know in China, they really love basketball,” O’Neal said. “And I also know for a fact that, despite what’s going on in the world, there are two things that will always calm people down — sports and music.”
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