When you see Shaquille O’Neal on TV, he’s usually joking around with Charles Barkley or trying to sell you a bottle of Icy Hot. It’s easy to think of him as just a retired basketball player who’s really good at being famous. But that’s a mistake. Honestly, the "Big Aristotle" is probably one of the most disciplined and aggressive business minds in the world right now.
People always ask, what does Shaq own? The answer is basically a small city’s worth of real estate, food, and tech. By 2026, his net worth has climbed toward the $500 million mark, and he’s pulling in nearly $100 million a year without ever picking up a basketball. He didn’t get there by accident. He got there by buying things he actually likes.
The Restaurant King: From Five Guys to Big Chicken
If you’ve heard the rumors that Shaq owns 10% of all the Five Guys in North America, you’re slightly behind the times. At one point, he really did own 155 of those burger joints. It was a massive chunk of the company's franchise footprint. But he actually sold his stake back in 2016. He used that cash to pivot toward brands where he could have more control.
Currently, his food empire is built on three main pillars:
- Big Chicken: This is his baby. He co-founded it in 2018. It’s not just a few shops; as of early 2026, there are over 40 locations open, but the pipeline is insane. We’re talking over 350 units in development. You’ll find them in arenas, on Carnival Cruise ships, and popping up in suburbs across the country.
- Papa John’s: Shaq isn’t just a guy in the commercials. He owns nine franchises in the Atlanta area. He also sat on the Board of Directors for years, helping the brand fix its image. He actually owns a significant amount of equity in the parent company, too.
- Krispy Kreme: He owns the historic Ponce de Leon location in Atlanta. He’s obsessed with doughnuts. He’s gone on record saying he wants to eventually own 100 of them because, in his words, "Charles Barkley is my biggest customer."
It’s a simple strategy. He calls it the "Bezos Method." He once heard Jeff Bezos say he only invests in things that change people's lives. While a chicken sandwich might not "change the world," Shaq interprets this as investing in things that make people smile and feel good.
He Owns Your Favorite Dead Brands (And Some Living Ones)
This is the part that usually blows people's minds. Shaq is the second-largest individual shareholder of a company called Authentic Brands Group (ABG).
Why does that matter? Because ABG owns the intellectual property rights to some of the biggest names in history. When you buy a shirt with Marilyn Monroe on it, or something related to Elvis Presley or Muhammad Ali, a tiny piece of that money technically goes to Shaq.
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Through ABG, Shaq has a hand in:
- Reebok: In 2021, ABG bought Reebok from Adidas for about $2.5 billion. Shaq was the one pushing for it. He’s now the President of Reebok Basketball. He’s literally the boss of the brand that signed him as a rookie.
- Forever 21: Yeah, the mall staple.
- Brooks Brothers: The high-end suit maker.
- Sports Illustrated: He’s part-owner of the brand that used to put him on its covers.
The "Boring" Cash Cows: Car Washes and Gyms
While the celebrity brands get the headlines, the real "quiet" money comes from the stuff you use every week. Shaq loves recession-proof businesses. Think about it. Even if the economy is shaky, people still need to wash their cars and they still (theoretically) want to go to the gym.
He owns 150 car washes. Think about the cash flow there. It’s a low-overhead, high-volume business. He also owns 40 24-Hour Fitness locations. He’s basically built a portfolio that generates money while he’s asleep or filming "Inside the NBA."
He also got into the tech game way earlier than most people realize. He was an early investor in Google before it even went public. He saw a demo, liked the product, and put money in. He did the same thing with Ring (the doorbell camera company) before Amazon bought them for a billion dollars.
Why the "Shaq Strategy" Actually Works
Most athletes go broke because they invest in things they don't understand—restaurants their cousins want to open or "revolutionary" tech that doesn't exist. Shaq does the opposite.
"I never come into a meeting and say, 'I'm Shaquille O'Neal, give me money.' I say, 'I'm Shaquille O'Neal, I use your product, I love your product, how can I help?'"
He’s very open about the fact that he used to be bad with money. He spent his first million-dollar check in about 45 minutes. He bought three Mercedes-Benz cars and some jewelry and realized the money was gone. That "scare" is what turned him into a student of business. He even went back to school to get his Doctorate in Education (Ed.D.) because he didn't want to be the "dumb jock" in boardroom meetings.
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What Most People Get Wrong
The biggest misconception is that he's just a "paid spokesperson." When you see him in a commercial for The General insurance or Icy Hot, he usually has an equity stake or a very complex partnership involved. He’s not just taking a check; he’s building the value of the company so his shares go up.
He also sold his Auntie Anne’s franchises recently. Why? He gave a very "Shaq" answer: he realized the demographic data didn't align with his personal brand goals anymore, and he wanted to focus on Big Chicken. He isn't afraid to cut a winner if it doesn't fit the long-term vibe.
Summary of Shaq’s Current Holdings (2026)
| Category | Key Assets |
|---|---|
| Restaurants | Big Chicken (Founder), 9 Papa John's, 1 Krispy Kreme |
| Corporate | 2nd Largest Shareholder of Authentic Brands Group |
| Brands Owned | Reebok, Marilyn Monroe, Elvis Presley, Forever 21, Quiksilver |
| Service | 150 Car Washes, 40 24-Hour Fitness Gyms |
| Tech | Early stakes in Google, Ring, and various startups |
How to Apply the Shaq Mindset
You don't need $500 million to invest like Shaq. His core principle is familiarity. If you don't use the product, don't buy the stock. If you don't understand how a business makes a profit on a Tuesday afternoon, don't put your life savings into it.
He also emphasizes partnerships. Shaq almost never does anything alone. He finds the smartest operators in the room—people like Jamie Salter at ABG—and hitches his wagon to their expertise. He provides the "Big Energy" and marketing muscle, and they provide the operational backbone.
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If you want to follow his lead, start by auditing where you spend your own money. The brands you already love are usually the best places to start looking for investment opportunities.
Next Steps for You:
Check out the Authentic Brands Group portfolio to see just how many household names Shaq technically has a hand in. It’s a masterclass in diversification. You might also look into the franchise requirements for Big Chicken if you’re interested in the "fast-casual" space; it’s currently one of the fastest-growing chains in the U.S. and a prime example of his "hands-on" investment style.