Shaq Declined an $80,000 Expense, Then Turned It Into a Million-Dollar Win

NBA superstar Shaquille O’Neal has demonstrated that his business acumen is as impressive as his basketball skills. O’Neal’s decision to opt for a cost-effective security solution for his property has resulted in a lucrative investment. What Happened: In a 2019 interview with CNBC, O’Neal disclosed that he declined an offer to install $80,000 worth of security cameras at his Atlanta residence. Instead, he chose a more economical option from Ring, outfitting his home with 10 to 15 cameras for approximately $2,000. After experiencing the product’s effectiveness and cost-efficiency firsthand, O’Neal decided to invest in Ring. During the interview, he said that he met with Ring’s CEO, Jamie, at a Las Vegas conference and expressed his desire to contribute to the company’s expansion. Also Read: Shaquille O’Neal Won’t Share His Fortune With His Kids: ‘I’m Not Going To Hand It to You’ O’Neal’s $1 million investment in Ring significantly contributed to the company’s growth in the security camera industry. In 2018, Amazon Inc. (NASDAQ:AMZN) purchased Ring for an estimated $1 billion, making it one of O’Neal’s most profitable investments. Why It Matters: O’Neal’s investment strategy is rooted in his belief in the products he invests in. His decision to invest in Ring is a testament to his business philosophy, which combines prudence with a conviction in the product’s potential to benefit others. This approach has not only helped him amass a net worth of $500 million but also solidified his reputation as a savvy investor. Read Next Shaq Accidentally Invested $250,000 In This Company, Now Its Value Is Skyrocketing: ‘My Only Regret, I Wish I Would Have Bought More'