The Hilarious And Regrettable Reason Behind The Worst Business Decision Of Shaq S Life

As the story goes (according to a recent interview between His Shaqness and Graham Bensinger), there was a time when Starbucks CEO Howard Schultz was interested in making a serious effort to expand his company into predominantly black neighborhoods. Schultz wanted Shaq’s participation in the initiative, and the deal would have given Shaq a sizable stake in the company – a stake that would now be worth untold millions. But Shaq didn’t go for it, and his reasoning at the time is worth a laugh now. Here’s a quote from the interview: Shaq isn’t just exaggerating for humorous effect when he calls the business decision one of his worst. After Shaq turned Starbucks down, they ended up approaching his fellow NBA legend Magic Johnson with a similar offer, which ended up making him about $27 million when he sold his shares of the company in 2010. Before you start feeling too bad for Shaq, though, remember that the occasional bad business decision (or movie career) aside, he’s done more than OK for himself, with a personal net worth of about $350 million. Still, for somebody as competitive as Shaq, you have to figure it burned to have seen Magic Johnson get richer off of a deal he turned down – he seems to be in good spirits about it now, though 🙂