Shaquille O’Neal is thought for his dominance on the basketball courtroom, however his enterprise strikes off the courtroom are simply as spectacular. One of the stunning tales about Shaq is not a few slam dunk or a championship win — it’s about how he turned a easy residence safety situation right into a multi-million-dollar funding.
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Shaq has three properties in Atlanta, the place he is lived for years, and he wanted a brand new safety system for one in every of them. When he contacted a safety firm, they quoted him $80,000. Regardless that he is value tens of millions, Shaq knew that worth was means too excessive. So, he did what many people would do and regarded for a less expensive resolution. Whereas procuring at Finest Purchase, he noticed some Ring cameras and determined to purchase one.
“The loopy factor about it’s I hooked it up myself,” Shaq stated, clearly happy with his DIY expertise. He put in the digicam, after which, whereas touring in China, he realized simply how highly effective the system was. He might see and speak to somebody at his entrance door from midway all over the world. That is when it clicked for Shaq — this wasn’t only a good product however a game-changer.
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Enthusiastic about what he had found, Shaq determined to take issues a step additional. He tracked down the corporate’s sales space at a tech convention and made a daring supply to the CEO. “I stated, ‘Hey, my identify is Shaquille O’Neal. I need to put money into your organization, and you are going to pay me to do commercials, after which no matter occurs occurs,'” Shaq recounted. The CEO agreed, and Shaq grew to become an early investor in Ring.
Just a few years later, Jeff Bezos purchased Ring for $1 billion. Shaq’s resolution to take a position on this nonetheless comparatively unknown firm saved him cash on his residence safety and made him some huge cash in return. How a lot precisely? He by no means disclosed.
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However this wasn’t Shaq’s first sensible funding. In 1999, whereas nonetheless in his NBA prime, Shaq’s agent launched him to Ron Conway, a prime enterprise capitalist. Throughout a lunch on the 4 Seasons, Conway pitched him on investing in a little-known firm referred to as Google. Shaq invested $250,000, which grew considerably as Google grew to become a tech big.
He stated, “We had a gathering with them and it regarded good, and I put some cash in and forgot about it.”
Shaq’s portfolio does not cease there. He is additionally invested in corporations like Lyft, Apple and Vitaminwater. With Lyft, he jumped in only a yr after it was based, and when the corporate went public in 2019, it was valued at $22 billion.
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This text Shaq Refused To Pay $80,000 For Safety And Made A Shocking Selection. He Invested In A Firm Bezos Later Purchased For $1 Billion initially appeared on Benzinga.com
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