After his NBA career, Shaquille O'Neal made a wide array of investments, but one of the most interesting ventures he made was spending approximately $135 million to acquire the rights to various royalties, such as Elvis Presley, Marilyn Monroe, Muhammad Ali, and Michael Jackson.
This unbelievable deal became a reality thanks to O'Neal's astute business decision in December 2015, when he partnered with the Authentic Brands Group, the company that owns the rights to the aforementioned celebrities.
"Who owns Marilyn Monroe? Who owns Elvis Presley? Me!" the NBA Hall of Famer once boasted .
Shaq wants his legacy to live on forever
Through constant strategic moves, Big Aristotle grew his investment to become the second-largest individual stakeholder in the brand management company. That said, O'Neal truly and technically owns some of the most iconic celebrities of all time.
Some might wonder how O'Neal made the decision to make such a unique business move. As it turns out, Shaq wants his legacy to live on forever, and he realized that Authentic Brands Group could make it happen.
So, in addition to being one of the biggest stakeholders, Diesel also sold the rights to manage his name to the company.
"My Authentic Brands deal, I was able to ensure that hopefully I can stay around after I'm no longer on this earth," O'Neal explained to AFROTECH last year. "And I was walking down the street one day and looking at these Elvis cups and Elvis key chains and Marilyn Monroe, and I said to myself, 'How are these people still making money for their families?' They're not even around. So, I found out how that business works, and I contacted two or three of those agencies and asked them if they were interested in partnering with Authentic Brands, and we've been doing major things."
"I just always wanted to have the opportunity to live forever like fame," he added.
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Shaq's business empire
Some may not know, but the LSU alumnus is a basketball icon, an NBA analyst, and a savvy businessman . After retiring from the NBA, "Diesel" dedicated himself to building a successful business empire.
One of Shaq's most notable ventures is his investment in real estate. He owns numerous properties across the United States, showing his keen eye for profitable opportunities. Additionally, O'Neal has partnered with major brands, most notably Papa John's and Krispy Kreme.
Furthermore, Shaq is also a marketing genius. His larger-than-life personality and sense of humor made him an asset himself, appearing in numerous commercials and advertisements.
Today, O'Neal is widely regarded as one of the most successful people in the world, having amassed a staggering current net worth of over $500 million.
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