Why Shaquille O’Neal Is Wary of Crypto

Don’t expect Shaquille O’Neal to dip into the crypto market any time soon.

In an interview with Front Office Sports, the NBA Hall of Famer, business mogul, and TNT basketball analyst shared his take on cryptocurrency, saying he only invests in things he strongly believes in and avoids ventures that “seem too good to be true.”

“I always get these companies that say, ‘Hey, we’ll give you $900,000 in crypto to send out a tweet.’ So I have to say, ’OK, if you’re going to give me a million dollars worth of crypto, then why do you need me?’” O’Neal said. “A couple of my friends got caught up in a little scam like that one time.”

The 49-year-old has an estimated net worth of $400 million and an extensive portfolio of investments. 

• This year, O’Neal co-founded a diversity-focused ad agency, Majority. 
• Beachbody, a subscription-based fitness platform, went public via a $2.9 billion merger with connected cycling provider Myx and a Shaq-advised SPAC in June.
• In May, O’Neal became an equity partner in Alkaline Water Co. He’ll join the board of advisors and get about 7 million shares, or 5-6%, of the company. 
• He’s a minority owner of the Sacramento Kings, too.

O’Neal most recently invested in NRG Esports and brokered a naming rights partnership between their “Rocket League” team and The General insurance company, one of his many endorsements.