It’s not the off-season if you are Shaquille O’Neal. The NBA icon has a $500 million net worth and has several business decisions to make. Not to forget his TNT gig, DJing, podcasting, and any other promotional material that comes his way. Recently, one of those promotional activities got him into a legal jam, and the Lakers legend had to clear it by paying $1.8 million. That now seems a small dent as Shaq is already up and about with a new collaboration.
His latest collaboration is with the social media platform LinkedIn. The networking site claims to have “1 billion members in more than 200 countries and territories worldwide.” Again, no wasted opportunity from Shaq. In the video, he spoke about how to pivot, play to your strengths, and refine failure as key business lessons. ” My advice to people who think of themselves as a one-trick pony, be a master while you’re riding that pony. That was a horse. I was a fighter, and I was a dreamer, and I was a simple dreamer. 75% of my life was trials and tribulations. The other 25% is dreams.”
Shaquille O’Neal explained that basketball will always be his number 1 move, but he understood the time to pivot to other business was on the horizon. From fast-food franchises to tech startups and even real estate, he’s got his hands in just about everything. One such venture is XLG clothing. Yes, the 4x NBA champion launched it to “help big guys feel included.”
“You know, growing up a big guy, there wasn’t a lot of big guys around, so I’d hang around with little guys. And the little guys used to get some stylish stuff. It just drove me crazy. I was like, you know what, I’m going to start a line to where the big guys can feel s—.” Shaq continued in the video, “Master it and make a choice. Success means utilizing the tools around you. And LinkedIn’s AI search has all the tools you need. When you dare to discover, the possibilities are endless.”
LinkedIn is seemingly a smart endorsement/collab choice, as Microsoft acquired LinkedIn in 2016. Currently, Microsoft (MSFT) Market Cap & Net Worth as per Stock Analysis is $3.70 trillion. So, the social networking site is booming a good news after the legal debacle with FTX. Just weeks ago, O’Neal finalized a settlement for $1.8 million. This one came from his involvement with FTX, the crypto exchange that famously went bankrupt. “We are pleased to have this matter behind us,” his legal team shared in a brief statement. But this was not the only legal matter hovering over his shoulder.
Shaquille O’Neal settled another case, too, for a whopping $11 million
Let’s get one thing clear: the Lakers legend’s involvement in FTX was being a mere promoter of the now-defunct token. And he was not alone. Tom Brady, Steph Curry, David Ortiz, Gisele Bündchen, Shohei Ohtani, Naomi Osaka, Udonis Haslem, Larry David, and even Major League Baseball got dragged into the storm. So, Shaq settled his case just like he did with his involvement in the promotion of Astral’s NFTs.
May 26, 2024; Dallas, Texas, USA; Shaquille O’Neal before the game between the Dallas Mavericks and the Minnesota Timberwolves in game three of the western conference finals for the 2024 NBA playoffs at American Airlines Center. Mandatory Credit: Jerome Miron-Imagn Images
In September 2023, O’Neal’s team presented his case in court. “Astrals were intended for and marketed to gamers, not investors,” according to Shaq’s camp. Last year, on August 16, a Miami judge ruled that investors had a solid case, acknowledging that Shaq acted as a seller of the NFTs. So, Shaquille O’Neal, with the legal aid, made sure to pay $11 million to settle the Astrals lawsuit and make it go away.
But it seems not all his legal problems are going away. Recently, even his fast food brand, Big Chicken, had to shut down in one location as legal problems grew. So, Shaq is not afraid of pivoting to safer alternatives to avoid any more legal tensions. After all, he has already spent $12.8 million combined in settlements.
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