Via Yahoo Finance’s On The Move:
“My first major investment was Google,” O’Neal told adding at the time he didn’t really understand the impact Google (GOOG) would have in the future, but was assured that, “… phones, search engines, finding information…that’s going to work.’”
O’Neal says his investment strategy is simple — if he doesn’t believe in a company he won’t partner with them and he draws inspiration from Amazon’s (AMZN) founder. “I’d just look at what everyone else was doing, Jeff Bezos and a lot of other entrepreneurs and I would just try to follow their style.”
Other investments for the superstar happened serendipitously — like home security system Ring. “I actually found Ring by accident.” explained O’Neal. He said it happened when it “was my first time not being a spoiled rich brat” and not living in a gated community. When he found himself searching for security systems he was shocked by the quotes he received from private companies ranging from $50,000 to $80,000. That’s when he spotted Ring at Best Buy and bought it and said it worked ‘like a charm’. O’Neal subsequently got in touch with the company and began to work with them, cashing in on his Ring investment when it was purchased by Amazon for $1 billion in 2018.
Shaq is looking pretty smart these days. . .
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