A basketball figure who spent a career being measured by championships now turns to a different kind of scorecard, the ledger of missed chances. Shaquille O'Neal, speaking to CNBC Make It, names his refusal to invest in Starbucks as the gravest business error of his life, a choice he traces to a careless remark about who drinks coffee. The regret sits beside a later story of his former teammate-turned-rival, Magic Johnson, who took the opening and later sold his stake for a reported fortune. Whether the exchange unfolded exactly as O'Neal recalls remains, for now, a story told by one voice.
Shaquille O'Neal Says He Passed on an Early Starbucks Stake, Citing a Racial Stereotype
He had never seen anyone in his family drink coffee
Mark
Why does this story get attention? It's a retired player talking about a missed deal.
Mimi
Because of the contrast. Johnson took the opportunity and reportedly made about $70 million from a 50% stake. O'Neal says he had the chance first and passed.
Mark
And the reason he gives is the unusual part.
Mimi
Yes. He says he told Howard Schultz that Black people don't drink coffee, because nobody in his family did. He's describing his own reasoning as a mistake.
Luke
Worth saying that's one account. Nobody else in the piece confirms that conversation took place or what was said.
Mark
So Schultz hasn't responded?
Luke
Not in this article. There's no comment from Schultz, Johnson, or Starbucks, and no date for the CNBC interview.
Mimi
The timeline that is given is Johnson's. He began the partnership in 1998 and sold back in 2010.
Luke
And the $70 million is labeled reportedly. The piece doesn't say who reported it, so I'd treat it as an estimate.
Mark
What do we take from it, then?
Mimi
That O'Neal calls it his biggest business mistake, in his own words. Beyond that, the sourcing is thin.
O Pulso
- Shaquille O'Neal calls passing on Starbucks his biggest business mistake, and the admission lands with a sharp sting.
- A remark about coffee and who drinks it is now the centerpiece of a regret that has traveled far beyond one interview.
- Magic Johnson's reported 1998 partnership, and a roughly $70 million exit in 2010, sets a glowing contrast beside O'Neal's missed chance.
- The account rests on a single CNBC interview with no response yet from Starbucks, Schultz, or Johnson, leaving the exchange unconfirmed.
A basketball figure who spent a career being measured by championships now turns to a different kind of scorecard, the ledger of missed chances. Shaquille O'Neal, speaking to CNBC Make It, names his refusal to invest in Starbucks as the gravest business error of his life, a choice he traces to a careless remark about who drinks coffee. The regret sits beside a later story of his former teammate-turned-rival, Magic Johnson, who took the opening and later sold his stake for a reported fortune. Whether the exchange unfolded exactly as O'Neal recalls remains, for now, a story told by one voice.
In a CNBC Make It interview, Shaquille O'Neal named the most painful entry in his business life: he did not invest in Starbucks. He says the opportunity reached him before it reached Magic Johnson, and that he turned it down after telling Howard Schultz that Black people don't drink coffee. By his own account, the remark came from never having seen anyone in his family drink it.
Johnson took the path O'Neal passed by. He left the NBA in 1991, and in 1998 he began a partnership with Starbucks. When he sold his 50% stake back to the company in 2010, after twelve years, it reportedly earned him about $70 million, a figure the piece presents as reported rather than confirmed.
The regret arrives against a career of real success. O'Neal is a four-time NBA champion, and his league earnings and endorsements secured a comfortable life. He now reportedly earns more through investments than he did in his playing years, and his holdings include a stake in the Sacramento Kings, a board seat and spokesperson role with Papa John's, and a partnership in Authentic Brands Group.
The story leans on one interview from an outlet known mainly for sports and entertainment. It does not date the conversation or include any reply from Schultz, Johnson, or Starbucks. What remains is O'Neal's own telling, in which a casual remark becomes the lesson he now says cost him the most.
In an interview with CNBC Make It, Shaquille O'Neal named what he considers the biggest mistake of his business life: he did not invest in Starbucks. He says the chance came to him before it came to Magic Johnson, and that he turned it down.
O'Neal's account of the conversation is specific. He says he told Howard Schultz, the Starbucks leader, that Black people don't drink coffee. His reasoning, as he put it, was that he had never seen anyone in his own family drink it. That is the stereotype in the headline, and it is O'Neal's own description of what he said and why.
Johnson went the other way. According to the reporting, Magic Johnson retired from the NBA in 1991, a year before the Orlando Magic drafted O'Neal in 1992. Johnson began a partnership with Starbucks in 1998. In 2010, after 12 years, he sold his 50% stake back to the company. The stake reportedly earned him about $70 million. That figure is described as reported, not confirmed in the piece, and it is not clear who the original source is.
The regret lands against a backdrop of success. O'Neal is a four-time NBA champion and remains well regarded by Lakers fans for the stretch of winning he helped deliver. His earnings from the league and from endorsement deals made his life comfortable. The article also says he now reportedly brings in more each year through investments than he did in his best seasons as a player, though it gives no figures.
Those investments include a minority ownership stake in the Sacramento Kings, which he took in 2013. He joined the board of directors of Papa John's pizza and became a spokesperson for the company. He is also a business partner in Authentic Brands Group, which handles brand management and celebrity licensing.
The story rests on a single interview, and the outlet publishing it is known for sports and entertainment coverage. The article does not say when the CNBC conversation took place, and it does not include any response from Schultz, Johnson, or Starbucks about the exchange O'Neal describes. What is on record is O'Neal's own telling: he calls it his biggest business mistake, and he explains it with a remark he now regrets.
Citações Notáveis
My biggest mistake was not investing in Starbucks.— Shaquille O'Neal, CNBC Make It
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