How much did Shaq invest in the Kings?
Shaq isn't walking away from the Kings empty handed. As we mentioned a moment ago, he paid around $5 million for his 1% stake in 2013. At the time of his purchase, the Kings were worth around $530 million. Today the Kings are worth $1.8 billion.
Shaquille O'Neal officially sells his stake in Sacramento Kings, walks away from 'our great partnership' Shaquille O'Neal, who became a partial owner of the Sacramento Kings in 2013, announced on social media Wednesday that he has officially sold his interest in the NBA club.
O'Neal, 49, shared on Twitter that he had to sell his stake in accordance with NBA rules, as he is pursuing interest in the sports gambling space. “As a result of a new business endeavor, I was required by NBA rules to sell my interest in the Sacramento Kings.
So Shaq went to Walmart at 3 a.m., dropping $70,000 on five TVs, printers, laptops, appliances, linens, and even underwear.
Shaquille O'Neal and his business empire
On the positive side, Shaq invested in Google's Series A in 1999. He placed a $100 million valuation on the table with a gut feeling that it would give him a huge profit. Fast forward to 2022, the company's estimated value is about $1.89 trillion.
“In 2013, Shaq bought a 2% to 4% stake in the Sacramento Kings. But he sold his stake in 2021 in order to be a brand ambassador for online gambling platform WynnBET. The Kings are valued at $1.8 billion. Shaq made an estimated $36 million to $72 million from the sale.”
Shaq isn't walking away from the Kings empty handed. As we mentioned a moment ago, he paid around $5 million for his 1% stake in 2013. At the time of his purchase, the Kings were worth around $530 million. Today the Kings are worth $1.8 billion.
Shaquille O'Neal became a partial owner in the Sacramento Kings in 2013. At the time, the Kings were valued at around $534 million. Today, the valuation of the Kings is $1.8 billion. Shaq will now sell his ownership stake (about 2-4%) with the Kings.
READ MORE: Step inside the Papa John's Shaq built. Papa John's owns about 70 percent of the joint venture. Shaq invested roughly $840,000 for the restaurants' acquisitions costs of $2.8 million, according to a securities filing. As Ritchie mentioned earlier in the year, the ground-level impact is pretty clear.
Shaquille O'Neal Owns 155 Five Guys Restaurants, 40 Fitness Centers, And 1 Movie Theater Among Other Businesses.
Does Shaq own JC Penney?
O'Neal is the second-largest individual shareholder of Authentic Brands Group, the company behind dozens of brand and retailer acquisitions, including Forever 21, Barneys New York, JCPenney and most recently, Reebok.
The "NBA on TNT" analyst thanked Durant for the compliment and clarified that he is not, in fact, a billionaire. Indeed, Shaq is not a billionaire.
He has owned and sold 155 Five Guys Burgers restaurants — which totaled 10% of the company's entire franchise portfolio. He also owns 17 Auntie Anne's Pretzels restaurants and nine Papa John's franchise units.
A fan of Ring, a doorbell camera home security system, Shaq tracked down the inventor and bought into the business. When Amazon acquired Ring for over US$1 billion, O'Neal pocketed a tidy little profit. He also has shares in Apple and San Francisco startup Loyal3, an online stockbroking firm.
In an interview from 2019, Shaquille O'Neal revealed that he had the opportunity to invest in Starbucks before Magic Johnson did. But he passed on that opportunity, as he had never seen people in his family drink coffee, and assumed that the black community does not enjoy coffee.
And that brings up a strange but true fact: Shaq is on the receiving end of some of those dollars. O'Neal is the second-largest individual shareholder of Authentic Brands Group, the company behind dozens of brand and retailer acquisitions—including Forever 21, Barneys New York, JCPenney and Reebok.
He has owned and sold 155 Five Guys Burgers restaurants — which totaled 10% of the company's entire franchise portfolio. He also owns 17 Auntie Anne's Pretzels restaurants and nine Papa John's franchise units.
The NBA's Sacramento Kings have been sold to a group that includes 24 Hour Fitness founder Mark Mastrov, now chairman and co-founder of private equity firm New Evolution Ventures (NEV), Lafayette, CA. The announcement was made today by Sacramento, CA, Mayor Kevin Johnson.
Shaquille O'Neal became a partial owner in the Sacramento Kings in 2013. At the time, the Kings were valued at around $534 million. Today, the valuation of the Kings is $1.8 billion. Shaq will now sell his ownership stake (about 2-4%) with the Kings.
The Sacramento Kings announced Friday owner Vivek Ranadivé and Arctos Sports Partners bought out the shares of minority owners Mark Friedman, Brad Jenkins, Mark Mastrov, Andy Miller and Kevin Nagle. Those minority owners helped Ranadivé take ownership of the Kings from the Maloof brothers in 2013.
