Despite already having such big-name backers, O'Neill recently told Fortune that his decision to invest an undisclosed amount in the startup was ultimately about the campus “changing people's lives.” He said it all came down to his belief that he could do it. We've heard it from Bezos before.
“I heard Jeff Bezos say that when you invest in things that change people's lives, you always get a big return,” O'Neill said. “But this particular investment is not a huge return, because I think everyone should have access to a world-class education.”
Launched in 2022 by technology entrepreneur Tade Oyelinde, 29, Campus is an accredited online community college offering classes taught by professors who also teach at universities such as Princeton University, Vanderbilt University, and Spelman College. Oyelinde, who himself dropped out of college, said in a statement last year that he wanted to “make higher education more accessible, more affordable, and more meaningful” to students across the country from different backgrounds and income levels. said he founded this startup.
This isn't the first time Bezos has influenced O'Neal's business decisions. The Basketball Hall of Famer said he was “terrified” of putting his name forward to buy the NBA's Phoenix Suns after reading reports that Bezos might be considering an offer for his team in 2022. It became,” he said. O'Neal, who has an estimated net worth of more than $400 million, said at the time that he didn't want to compete with Bezos and other “heavy hitters” who were eyeing the team, and a year later the team was eventually replaced by billionaire Matt.・Sold to Mr. Isbia. .
And O'Neill has long touted Bezos' advice to seek out investment opportunities that you truly believe can “change people's lives.”
“If something comes across my desk and I don't believe it, I'm not going to look at it,” O'Neal told the Wall Street Journal in 2019.
Mr. O'Neill's investment track record includes numerous success stories. (O'Neal claims he never actually invested in doomed cryptocurrency exchange FTX, although he served as a paid spokesperson.) The basketball legend's portfolio includes: This includes investments in Google, Lyft, Ring, and Vitaminwater, as well as ownership of franchise businesses such as Papa John's. , Auntie Anne, and Five Guys.
Bezos' advice helped Mr. O'Neal believe in his belief in the company's mission, even beyond purely financial motives, but in 2019 he told the Journal He also said that dividends have been paid.
“Once I started implementing that strategy, I probably quadrupled my value,” he said.
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