Shaquille O’Neal gives sound advice in book interview

In an excerpt from the book “A-list Angels: How a Band of Actors, Artists, and Athletes Hacked Silicon Valley” by Zack O’Malley Greenburg published on Vanity Fair’s website this week, former NBA player and celebrity Shaquille O’Neal explained how he built his fortune.

Beyond taking steps to work in areas other than basketball, Shaq took advantage of opportunities to invest whenever possible. Shaq explained to Greenburg that it was “fear” that pushed him to do more than rely on savings: “Seventy-five percent of all athletes go broke two years after they’re playing… I went back, got my master’s in business, and my doctorate.” Shaq also listened to the advice of other athletes and business leaders who were doing extremely well financially in their lives.

Shaq credited advice from Amazon’s Jeff Bezos that people should stick with investments that “make the world a better place.” He learned early the mistake of relying solely on cash. He accepted stock in exchange for cash when agreeing to endorse various brands. He also acknowledged that being in the right place at the right time and seeing the possibilities in a new venture helped him: He invested in Google, for example, on the advice of an investor whose kids he found himself playing with one day at a restaurant. Lyft and Ring are among the brands that Shaq acknowledged are a part of his portfolio.