Hall of Famer, Shaquille O’Neal even after his retirement is considered one of the richest paid athletes in the world. Shaq when made his debut in NBA was winning money on and off the court through team contracts, brand endorsements, and advertisements and he has continued to do so. Some of his smart investments in the businesses are reaping him millions of dollars and earning him one of the smartest player-turned businessmen.
But there is one investment that Shaq regrets he never passed up. Believe it or not, the Four-time NBA champ once got the opportunity to collaborate with Starbucks for their new campaign in the African continents, which he later refused to strike the deal as he believes that “black people don’t drink coffee.”
Shaquille O’Neal Regrets Not Investing In Starbucks Before Magic Johnson
Shaquille O’Neal’s lack of affinity for lattes caused him to make one of the biggest investments mistakes of his life. In 2019 during an interview with CNBC, Shaq revealed that he had the chance before Magic Johnson to work with Starbucks but he refuse it straight to ‘Howard Schultz.
Shaq said: “My biggest mistake was not investing in Starbucks. I had the opportunity before Magic Johnson but I told Howard Schultz that black people don’t drink coffee because I never seen anyone in my family drink coffee.”
Later Shaq also discussed how his manager approached him for the deal but he denied the investment “So my agent calls me up and he says ‘Howard Schultz wants to do business with you,” O’Neal explained to Graham Bensinger.
“And I’m like coffee? Because growing up, in my household, I’d never seen a black person drink coffee. So, it was my thought process that black people didn’t drink coffee. So, I took the great Howard Schutz in his face,” he continued, and said, ‘Black people don’t drink coffee, sir. I don’t think it’s going to work.”
This is surely Shaq’s biggest investment mistake as we all know how much Starbucks has grown in these last few decades. Just like he had the weak spot for free throws in the game of basketball his ignorance this time has kept him away to make more money.