Shaquille O’Neal’s business philosophy centers on enhancing the quality of life for his customers, a principle he adopted from Amazon founder Jeff Bezos. In a July 5, 2019, interview with The Wall Street Journal, that has recently resurfaced on social media, Shaq credited Bezos with inspiring a new approach to business, saying, “Once I started following that strategy, I believe I probably quadrupled my net worth.”
When Jeff Bezos Talks…
“I heard Jeff Bezos say one time [that] he makes his investments based on if it’s going to change people’s lives,” Shaq said in the WSJ interview.
In an interview with Fortune Magazine published on Jan. 30, 2024, Shaq, a strong advocate for higher education, reiterated those sentiments. He mentioned that Bezos’ advice had helped him get involved in a $29 million investment in a startup called Campus. The startup’s goal is to support community college students in graduating and to provide a better quality of education.
The announcement of Campus has resurfaced on social media, bringing renewed attention.
Bezos, one of the wealthiest billionaires with a net worth of more than $150 billion, is well-known for his influential business strategies. According to the former NBA player, Bezos advised Shaq to invest in ventures that improve people’s lives, and this philosophical decision has guided Shaq’s business decisions ever since.
According to CNBC, while he does not say when or exactly he heard Bezos’ advice, Shaq said, “I was at a tech conference in Vegas and I heard the great Jeff Bezos say ‘If you invest in things, it’s going to change people’s lives,’ you will definitely get a nice return.”
Campus, founded by Tade Oyerinde, is on a mission to address the challenges faced by community college students, including low graduation rates and the prohibitive costs of earning a bachelor’s degree.
The startup, an accredited community college with approximately 726 enrolled students, is committed to promoting a more supportive and accessible educational environment.
It employs innovative strategies to enhance the learning experience and teams with professors from prestigious institutions such as Vanderbilt, Princeton, and New York University to offer synchronous classes.
Shaq’s involvement in the $29 million Series A funding round, alongside notable investors like OpenAI CEO Sam Altman and Discord founder Jason Citron, reflects his commitment to empowering underserved individuals in their pursuit of a better education.
“I heard Jeff Bezos say, if you invest in things that’s going to change people’s lives, you’ll always get a great return on your investment,” Shaq told Fortune. “But this particular investment is not about great return because I feel that everyone should have access to world-class education.”
Shaq, who has an estimated net worth of $400 million, is known for investing in ventures he personally enjoys, according to The WSJ. His early investments include major tech companies like Google and Apple, as well as 24 Hour Fitness and Las Vegas nightclubs. In addition to owning 17 Auntie Anne’s locations, a Krispy Kreme franchise, and a Big Chicken restaurant in Las Vegas.
