Shaquille O'Neal is without a doubt one of the greatest big men to have ever played the game. On top of that, Shaq has also found tremendous success in the business world. As it turns out, fellow Los Angeles Lakers legend Magic Johnson had a lot to do with this.
We've all heard multiple rags-to-riches-to-rags stories involving athletes who were unable to manage their finances properly. O'Neal is definitely not one of these people, and on a recent guest forum appearance for Black Entrepreneurs Day presented by Chase For Business, the Hall of Famer described how Magic provided him with some sound advice as soon as Shaq arrived to the Lakers:
To this very day, O'Neal credits Magic as one of the biggest influences he has had in terms of his business savvy:
“Where did I get my business acumen from,” Shaq said. “Magic Johnson when I first got to L.A. said, ‘Shaq, it's okay to be famous and all that, but at some point, you want to start owning things.' First thing I said was, ‘Okay, I want to own a clothing line.'”
It may sound simplistic, but as it turns out, this bit of advice had a significant impact on the former Lakers superstar for the rest of his life. As he described, he decided to come out with his own clothing line, which turned out to be the beginning of a very successful business track for the four-time NBA champ.
Right now, Shaq owns several businesses, including restaurants, gyms, and car washes, to name a few. He's reportedly earning more now than he was as a player. Clearly, he followed in the footsteps of a fellow Lakers legend in Magic Johnson, who himself is another highly successful entrepreneur. They're certainly playing the financial game the right way.
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