You’ve probably seen the headlines. Or maybe you saw a TikTok where someone claimed Shaquille O’Neal—yes, the four-time NBA champion and the guy who sells you everything from car insurance to pain relief cream—is now the boss of JCPenney. It sounds like one of those "too good to be true" celebrity rumors, right? Well, the truth is actually a lot more interesting than a simple yes or no.
Does Shaq own JCPenney? Strictly speaking, no. He isn't the sole owner sitting in a big office in Plano, Texas, deciding the price of bath towels. But honestly, saying he has nothing to do with the company is just as wrong.
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The reality is that Shaq is one of the largest individual shareholders in Authentic Brands Group (ABG). Why does that matter? Because ABG is part of the powerhouse group that actually owns JCPenney.
The Weird, Brilliant Way Shaq Became a Retail Mogul
To understand how a retired center ended up with a stake in a legendary department store, you have to look at 2015. That’s the year Shaq made a move that most athletes wouldn't dream of. He sold the rights to his own brand—his name, his likeness, and his future endorsements—to Authentic Brands Group.
But he didn't just take a check and walk away.
Shaq was smart. Instead of just cashing out, he took a massive chunk of that payment in ABG stock. He basically bet on himself and the company's ability to buy up "distressed" brands. At the time, people thought it was a bit of a gamble. Today? He’s the second-largest individual shareholder in the company.
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When JCPenney hit a wall and filed for bankruptcy in 2020, ABG teamed up with Simon Property Group and Brookfield Asset Management to rescue it. Because Shaq owns a huge piece of ABG, he technically owns a piece of JCPenney. It’s a "trickle-down" ownership that makes him one of the most influential voices in the room.
What Really Happened With JCPenney in 2025 and 2026?
The retail world doesn't stand still. If you’re looking at the current landscape in 2026, the ownership structure has shifted again, becoming even more complex.
In January 2025, JCPenney underwent a massive organizational change. It merged with something called the SPARC Group to form a new entity: Catalyst Brands. This wasn't just a name change. It was a strategic move to combine JCPenney with other heavy hitters like Brooks Brothers, Eddie Bauer, and Nautica.
Guess who is behind the scenes of Catalyst Brands? You guessed it—Authentic Brands Group.
Who actually pulls the strings?
If we’re looking at the pie chart of who owns what right now, it’s a joint venture. The major players include:
- Simon Property Group (The mall giants)
- Brookfield Corporation
- Authentic Brands Group (Where Shaq holds his power)
- Shein (The fast-fashion disruptor that joined the party recently)
So, when Shaq says in interviews, "I own JCPenney," he’s using a bit of "big man" hyperbole, but he isn't lying. He is a part-owner of the parent company that manages the brand.
It’s More Than Just a Stock Portfolio
For Shaq, this isn't just about moving numbers on a spreadsheet. He’s actually very hands-on with the JCPenney brand. If you walk into a store today, you’ll see his influence everywhere, particularly in the Shaquille O'Neal XLG line.
He’s talked openly about how his mom used to take him to JCPenney because it was one of the few places they could afford clothes that actually fit his massive frame. There’s a sentimental loop there. He went from a kid who couldn't find a suit that fit to the guy who owns a stake in the store and designs the suits for other "big and tall" guys.
Just recently, in late 2025, he even launched his first-ever fragrance exclusively through JCPenney. He’s used his "Santa Shaq" persona to photobomb families at JCPenney Portrait Studios. He isn't just a silent investor; he’s the face of the company’s attempted comeback.
Why This Partnership Still Matters in 2026
The department store model has been "dying" for twenty years, yet JCPenney is still standing. Why? Because they’ve leaned into the "Shaq factor" and other celebrity collaborations to stay relevant.
While the store struggled with its identity for a long time, the current leadership—led by Catalyst Brands CEO Marc Rosen—is doubling down on what they call "affordable luxury." They’re trying to make JCPenney a destination again, rather than just a place you pass through on your way to the food court.
Shaq’s role is basically the "Chief Vibe Officer." He brings a level of trust and relatability that corporate suits just can't replicate. When he tells people he shops there, they believe him because he’s been doing it since he was a teenager in Newark.
The Actionable Truth: What You Should Know
If you’re trying to wrap your head around the "Shaq owns JCPenney" mystery, here are the cold, hard facts you can take to the bank:
- Indirect Ownership: Shaq is a major shareholder in Authentic Brands Group (ABG), which co-owns JCPenney. He is the second-largest individual owner of ABG, behind only CEO Jamie Salter.
- Part of Catalyst Brands: As of 2026, JCPenney operates under the Catalyst Brands umbrella, a massive retail conglomerate worth billions.
- Active Partnership: Shaq isn't just an investor; he’s a primary brand partner. His XLG clothing line and new fragrance line are core parts of JCPenney’s 2026 inventory.
- Portfolio Diversification: This is just one piece of the puzzle. Shaq also has major stakes in Reebok, Forever 21, and Marilyn Monroe’s estate through the same ABG connection.
The next time you hear someone argue about whether Shaq really "owns" the store, you can tell them the nuance. He’s a shareholder, a designer, a brand ambassador, and a strategic partner. In the world of modern business, that’s as close to "owning" a legacy brand as it gets without having your name on the building.
If you’re interested in following the money further, keep an eye on Authentic Brands Group’s potential IPO. When that happens, Shaq’s "indirect ownership" might just turn into one of the biggest paydays in sports history.
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Next Steps for You
- Check the labels: Next time you’re in a JCPenney, look at the XLG or Reebok sections. Those are the direct results of Shaq's ownership influence.
- Watch the SPARC/Catalyst news: If you're an investor, watching how the merger between JCPenney and SPARC Group performs in 2026 will tell you a lot about the future of American retail.
- Follow ABG: Authentic Brands Group is the real power player here. Their acquisitions often signal which "failing" brands are about to get a Shaq-sized second chance.