You’ve probably seen the viral clips. Shaquille O’Neal, the four-time NBA champion and lovable giant of sports broadcasting, leans into a microphone and drops a casual bombshell. He mentions he owns Elvis Presley. Then he mentions he owns Marilyn Monroe. And then, the kicker that usually stops people in their tracks: Shaq owns Forever 21.
Wait, the fast-fashion mall staple? The place where teenagers go for $10 graphic tees? Yes.
But if you’re picturing Shaq personally picking out the latest floral sundress patterns or managing a store in the local mall, you’re looking at it the wrong way. The reality of how Shaq owns Forever 21 is a masterclass in modern celebrity business strategy. It’s not about buying a company outright; it’s about a complex, genius-level "joint-ventureship" that has made the Big Aristotle one of the most powerful people in retail.
The Secret Sauce: Authentic Brands Group
To understand this, you have to know about a company called Authentic Brands Group (ABG).
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Back in 2015, Shaq was looking for a way to make his brand "live forever." He saw how the estates of Michael Jackson and Elvis Presley continued to generate massive wealth long after the stars were gone. He didn't just want to sign another endorsement deal for a burger joint. He wanted equity.
So, Shaq did something radical. He sold the rights to his own brand—his name, his likeness, his very "Shaq-ness"—to ABG.
In exchange, he didn't just walk away with a big check. He took that money and put it right back into the company. By doing so, he became the second-largest individual shareholder in Authentic Brands Group.
Why does that matter? Because ABG is a titan. They don't just manage Shaq; they go out and buy iconic, struggling brands. When Forever 21 hit a massive wall and filed for bankruptcy in 2019, ABG stepped in as part of a consortium to save it.
Who actually owns the store?
In February 2020, a group consisting of Authentic Brands Group, Simon Property Group, and Brookfield Property Partners bought Forever 21 for roughly $81 million.
- Authentic Brands Group (Shaq’s company) took a 37.5% stake.
- Simon Property Group took another 37.5%.
- Brookfield Property Partners grabbed the remaining 25%.
Because Shaq is the second-largest individual shareholder in ABG, he is, by extension, a significant owner of Forever 21. When the brand makes money, Shaq makes money.
It's Not Just Fast Fashion
The rabbit hole goes way deeper than a few clothing stores. If you look at the portfolio Shaq has a hand in through ABG, it’s honestly staggering. We’re talking about a retail empire that touches almost every part of your daily life.
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He often jokes, "If Shaq goes away, sh*t, we still got Elvis." He's not kidding. Through his stake in ABG, he has ownership interests in:
- Reebok: ABG bought this from Adidas for about $2.5 billion in 2021. Shaq is now the President of Reebok Basketball.
- Sports Illustrated: One of the most famous names in sports media is under the ABG umbrella.
- JCPenney: Another massive retail play where Shaq's company stepped in during a bankruptcy crisis.
- Brooks Brothers: The high-end suiting brand.
- The Legends: Elvis Presley, Marilyn Monroe, and Muhammad Ali.
Basically, Shaq isn't just a "pitchman" anymore. He's the guy who owns the rights to the people doing the pitching.
Why Shaq Chose Forever 21
You might wonder why a 7'1" basketball legend cares about a fast-fashion brand aimed at Gen Z. Honestly, it’s about the "cheat code."
Shaq has explained that ABG's retail reach—somewhere between 1,500 and 2,000 stores globally—is a massive advantage. When they bought Reebok, they didn't have to start from scratch. They already had the "pipes." They could put Reebok gear into Forever 21 or JCPenney almost instantly.
It's a vertically integrated ecosystem. He’s not just selling clothes; he’s owning the shelf space they sit on.
Dealing With the Bankruptcy Ghost
People forget how close Forever 21 came to disappearing. In 2019, they were closing hundreds of stores. They had too much debt and too much floor space.
When the news broke that Shaq owns Forever 21 (via ABG), the strategy shifted. They stopped trying to own every single piece of the supply chain and focused on the "intellectual property." They license the name out. They partner with experts to run the day-to-day operations while they focus on the brand's image and global reach.
It worked. By 2024, the brand's retail sales were seeing a massive resurgence alongside other ABG-owned properties like Reebok, which saw sales jump from $1.6 billion to $5 billion in just a few years.
The "Big Aristotle" Business Philosophy
Shaq didn't get here by accident. He famously says he follows a simple rule: if he doesn't believe in the product, he won't touch it.
But there’s a second, more important rule he learned from Magic Johnson. You have to move from being the talent to being the owner. Shaq's net worth is estimated to be over $500 million, and a huge chunk of that isn't from his NBA salary—it’s from these equity plays.
He once owned 155 Five Guys restaurants (which was 10% of the entire company at the time). He’s owned 40 24-Hour Fitness locations. He’s a major player in Papa John’s.
But the Forever 21 deal is different because it’s part of a legacy play. It’s about building a company that exists long after he stops doing "Inside the NBA" or starring in commercials for The General.
What This Means for You (The Consumer)
When you walk into a Forever 21 today, you’re seeing the results of this "celebrity-backed conglomerate" model.
You’ll notice more collaborations. You’ll see Reebok displays inside the stores. You might see Marilyn Monroe-themed collections. This is the "cross-pollination" Shaq and Jamie Salter (the CEO of ABG) are famous for.
They are turning these brands into a lifestyle ecosystem. It’s no longer just a place to buy a cheap shirt; it’s a node in a massive network of brands that all support each other.
The Reality Check
Is Shaq the "CEO" of Forever 21? No. He says his role is "very hands-on," but then clarifies with his classic humor: "I do everything but nothing."
He’s the visionary. He’s the guy who provides the capital and the brand power. He leaves the logistics of garment manufacturing to the experts at SPARC Group (the joint venture that manages the operations).
Actionable Insights for the Aspiring Mogul
If you’re looking at Shaq’s career and wondering how to apply his "Forever 21" logic to your own life or business, here are the takeaways:
- Prioritize Equity Over Fees: Stop looking for a one-time payout. Look for ways to own a piece of the machine. Shaq gave up his personal brand rights to get a piece of a bigger empire. That’s a long-term play.
- The Power of Ecosystems: Don't build a business in a vacuum. Look for ways your different projects can support each other.
- Distinguish Between Brand and Operation: You don't have to know how to sew a shirt to own a clothing company. You need to know how to manage the brand and hire the people who know how to sew.
- Invest in "Forever" Assets: Shaq looked at what wouldn't go out of style. Marilyn Monroe, Elvis, and basic retail staples are things people will always recognize.
Shaq's journey from the basketball court to the boardroom of a fast-fashion giant is more than just a fun trivia fact. It's a blueprint for how celebrities—and really, any entrepreneur—can transition from being a "worker" to being a "magnate."
Next time you pass a Forever 21 in the mall, just remember: The Big Diesel is probably getting a piece of that sale.
Next Steps for Your Business Knowledge
To truly grasp the scale of this, you should look into the SPARC Group LLC structure. It is the specific entity that manages Forever 21, Brooks Brothers, and Reebok. Researching how they use "shared services" (using the same accounting, shipping, and HR teams for multiple brands) will show you the real secret to why these acquisitions are so profitable for investors like Shaq.