Did Shaq buy Starbucks?

Oct 24, 2022. Shaquille O'Neal once turned down what later became a lucrative deal for someone else. Starbucks franchisee opportunity: During an episode of Drink Champs, O'Neal explained Starbucks CEO Howard Schultz once offered him a chance to become a franchisee of a location that would open in the hood.

Why did Shaq turn down Starbucks?

In the end, he didn't think it had the potential to be successful. Part of what led him to this decision was that he didn't grow up around a lot of coffee drinkers. "The owner of Starbucks said, 'Shaq I want to open up a Starbucks in the hood?' And I'm thinking about where I'm from.

How many companies does Shaq own?

Shaq built a commercial empire since his professional basketball career was over, making money from both his own unique initiatives and other corporate endeavors. The Big Diesel has a substantial and diversified investment portfolio that includes 50 distinct companies.

How much did Shaq lose on Starbucks?

Shaquille O'Neal's 'Starbucks ideology' that caused a $100 million loss, came to the fore in a 'Pretzel deal' Shaquille O'Neal is usually wise with his money, but sometimes, he's had some preconceived notions about food and beverages which he's used to make decisions.

Who owns Starbucks?

By 1986, the company was operating six stores in Seattle and had begun to sell espresso coffee. In 1987, the original owners sold the Starbucks chain to their former director of marketing Howard Schultz, who rebranded his Il Giornale coffee outlets as Starbucks and quickly began to expand the company.

Shaq's biggest business mistake: Turning down Starbucks

Who did Starbucks buyout?

Starbucks purchased Bay Bread Group, the owner of the bakery chain, in an apparent attempt to increase its food offerings at its own retail stores. 9 La Boulange was founded by Pascal Rigo, who opened his first bakery in San Francisco in 1996.

How much did Shaq waste at Walmart?

"I spent about $70,000 at Walmart. In one night," Shaq said during an interview on "Real Sports with Bryant Gumbel" on HBO. "I spent so much, American Express thought my credit card was stolen.

What does Shaq own at Walmart?

Shaq eventually began selling a line of Shaq brand shoes at Walmart that he said in 2016 sold “over 120 million pairs of affordable shoes for kids.” The TV personality isn't the only NBA start to sell affordable shoes, as the ex-New York Knicks player Stephon Marbury endorsed his own range of Starbury sneakers, which . ...

Does Shaq own Papa Johns?

Some of the franchises Shaquille owns include Papa John's, Auntie Annie's, Five Guys, 24-hour Fitness Centers, Car Washes, and Krispy Kreme. He has other business ventures outside of franchising, such as Lyft and JCPenney.

Does Shaq own JCPenney?

O'Neal is reportedly the second highest individual shareholder of the Authentic Brands Group. This company is responsible for many brand and retailer acquisitions, including Forever 21, Reebok, Barneys New York and JCPenney.

How many Papa John's does Shaq own?

But O'Neal also has experience franchising for several famous restaurant brands. He has owned and sold 155 Five Guys Burgers restaurants — which totaled 10% of the company's entire franchise portfolio. He also owns 17 Auntie Anne's Pretzels restaurants and nine Papa John's franchise units.

How many Krispy Kreme does Shaq own?

As reported by Findingfuel.com, these include 17 Auntie Annie's Pretzels restaurants, nine Papa John's, one Krispy Kreme and a Big Chicken restaurant that is being franchised. He formerly was part-owner of 155 Five Guys restaurants.

How much of five guys does Shaq own?

Five Guys. For example, Shaq has owned and sold 155 Five Guys locations. This accounts for 10% of Five Guys' entire franchise portfolio. That's a lot of hamburgers that Shaq has made possible.

Does Magic Johnson own Starbucks?

Johnson also was an early investor in Starbucks. From 1998 to 2010, Johnson's company-owned more than 100 Starbucks. In 2010, Magic Johnson Enterprises sold its stock in Starbucks. The Los Angeles Lakers champion walked away with $100 million from the deal, The Sports Rush reported.

What was the downfall of Starbucks?

Within five years, Starbucks had lost focus of who it was.

Without the inspired leadership on coffee, sales plummeted, and the stock price had fallen from $37 to $7.83. Moreover, the company had to cut 18,000 jobs and close 977 stores. The Starbucks brand was in a complete free fall.

How many Burger Kings does Shaq own?

Someday I might have to put down a basketball and have a regular 9-5 like everyone else,” the player said at his graduation ceremony a decade ago. Since he announced his retirement in 2011, the NBA star has become the owner of 155 Five Guys hamburger establishments, which represented 10% of the total company.

What pizza company does Shaq own?

Shaquille O'Neal has an ownership stake in nine Atlanta-area Papa John's pizza restaurants, is a member of the company's board of directors and has a new endorsement deal with the brand.

What company owns Shaq brand?

In December 2015, basketball player Shaquille O'Neal signed with ABG to manage his likeness and marketing rights. In September 2016, Julius Erving also sold his name and licensing rights to ABG, and Aéropostale was purchased out of bankruptcy by a consortium that included ABG and other investors.

How many cars did Shaq buy?

Shaquille O'Neal once got pissed at a salesperson and decided to buy 3 Rolls-Royce for $1.3 million. He has never even driven those cars. During his playing days, Shaquille O'Neal was one of the most dominant players in the league. He had a long and fruitful career in the NBA while winning four NBA Championships.

How much did Shaq pay for dinner?

Known for his generosity and huge tips, the big man with the big heart reportedly struck again. While at dinner in New York City at the Jue Lan Club around 8:30 p.m. Sunday night, O'Neal paid for everyone in the restaurant's meals, which totaled over $25,000, per Page Six.

How many 3 shots did Shaq make?

One of the most dominant NBA centers of all time -- Shaquille O'Neal -- attempted just 22 three-pointers in his 19-season career and made just one of them.

Is Starbucks owner a billionaire?

“Starbucks and its billionaire CEO, Howard Schultz, can well-afford to improve employees' pay and working conditions through unionization,” reads the new report.

Why are so many Starbucks shutting down?

Why Did Starbucks Close 16 US Stores? According to Starbucks, many of their most recent store closures have been due to “safety concerns.”

When was Starbucks bought out?

The first Starbucks to sell brewed coffee opened in 1982. Howard Schultz (b. 1953) was hired later that year, and at his urging Starbucks opened its first espresso bar in 1984. In 1987 Baldwin and Bowker (Siegl had sold his shares in 1980) sold Starbucks to a group of investors led by Schultz.