Miami Heat center Shaquille O'Neal has started a new real estate company that he hopes will make him even more money and give him something to do when his knees finally give out.
Shaq's new company, The O'Neal Group, claims to already have invested over $50 million in residential and commercial real estate- not bad for a new startup.
With Shaq's personal wealth and personal cache, The O'Neal Group plans to expand its portfolio of South Florida real estate as well as invest in landmark properties throughout New Jersey and Los Angeles.
One of the first such investments is in the Metropolitan condo project in Miami, where Shaq will also purchase a "sky loft" at the Met3 for personal use, although he will not live there. Shaq will also open one of his personally branded fitness facilities in the condo, the third he will operate in South Florida. Terms of the deal were not disclosed.
According to Shaq, "this is not a fee arrangement", saying he plans to invest in real estate for the rest of his life.
I wouldn't bet against the 7+ footer. With his fame and deep pockets, he has what it takes to turn his personal interest in real estate into even greater success and fortune.
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