Shaq Is a Business, Man

Shaquille O’Neal made a big statement about inclusion this week.

The basketball legend co-founded Majority — an ad agency focused on diversity — with CEO Omid Farhang, former chief creative at ad agency Momentum Worldwide.

“Most agencies still struggle to meet a 25% diversity target,” O’Neal said. “We want to flip that diversity ratio to turn the minority into the majority.”

Shaq plans to play an active role in the business, joining meetings, networking, and reaching out to contacts as needed. Majority is just one of the Hall-of-Famer’s many investments.

His first big hit came when his agent introduced him to Silicon Valley “super angel” Ron Conway, which led to Shaq investing in Google before it went public in 2004. “My only regret is that I wish I would have bought more,” he told Vanity Fair.

O’Neal also owns several restaurant franchises between Papa John’s and Auntie Anne’s, and once owned 155 Five Guys restaurants but has since sold his stake. He’s a minority owner of the Sacramento Kings, told the Wall Street Journal he’s interested in buying Reebok, and has made other significant investments in Lyft, Ring, and Vitaminwater.

Last month, a SPAC the four-time champion advises took fitness brand Beachbody public in a merger worth $3 billion. A week later, the same group filed for another SPAC, seeking $300 million to acquire a tech company.

Shaq has likely amassed a nine-figure fortune, but the exact amount isn’t clear. “My mother would be disappointed if I talk about numbers,” he said.