NBA star-turned-businessman Shaq reveals the worst investment he ever made

Basketball legend-turned-business mogul Shaquille O'Neal told CNBC on Wednesday about the worst investment he ever made.A guy who owned this paper company said he had all these deals in all the schools and with the government. ... Turned out to be a scam, " he said on "While the former basketball star has led a successful career as an investor since retiring from the NBA in 2011, he said it wasn't an easy transition.

"When I first came into [the business industry], I lost a lot of money in the 'get rich quick schemes.'" he said. However, after having learned from his past mistakes, the four-time NBA champion said he started "listening to people" and working with "people [who] are much smarter than me.", as "friends" who talked to him about smart strategies in investing.The business magnate has now developed his own principles of investing.

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Shaq: Invest in companies that can change livesNBA legend Shaquille 'Shaq' O'Neal and Steady co-founder and CEO Adam Roseman join the 'Power Lunch' team to talk about the app Steady, the economy, investing and more. SHAQ If you make that much $ as an athlete and your strategy isn’t simply to invest in index funds which cannot possibly lose over time, it’s not a smart strategy. It’s how you go broke. SHAQ When you stop 🤔thinking about the pay outs, then you'll be successful SHAQ 'I learned early, that when I stop thinking about the pay-outs, I'll always be successful' - SHAQ
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