NFL Legend Reveals How He Lost Out On Multi-Billion Dollar Investment
If you’re a football fan, you’re certainly aware of Shannon Sharpe, the retired Denver Broncos player who is largely considered one of the greatest tight ends in the history of the sport.
Even if you didn’t follow his prolific career on the field, you’ve probably heard his hot takes as a sports commentator, or seen him interviewing celebrities such as Katt Williams on his hit podcast Club Shay Shay.
Shannon Sharpe And Google?
What you may not know, however, is that Sharpe had the opportunity to be an early investor in Google, which could have netted him billions upon billions of dollars, if it weren’t for some misguided advice from his financial planners.
By now, we’ve all heard numerous tales of individuals who missed out on multi-billion dollar companies before they became huge, mostly due to the risk associated with spending money that has no 100 percent guarantee of a return on investment.
Google In The Early Days?
As Shannon Sharpe explained on a recent episode of Club Shay Shay, he intended to purchase stock in Google back in the early 2000s, when the shares were projected to open publicly at only $85 each.
When the stock unexpectedly opened at $115 per share instead, Sharpe’s financial team suggested that he wait until the price goes down to go for it, and the rest is history.
Shannon Sharpe’s Financial Planner
Unlike your average part-time investor, Shannon Sharpe wasn’t looking to buy a few measly shares either.
According to the three-time Super Bowl champion, he had just signed a new multi-million dollar contract with the Baltimore Ravens, meaning he had plenty of money to throw at new and exciting ventures.
As he explained to billionaire investor and Shark Tank host Mark Cuban on the Club Shay Shay podcast, Sharpe asked his financial planner to purchase $300,000 worth of Google stock, which would have accounted for over 2,600 shares at a rate of $115 each.
Would Have Been Worth Billions
Needless to say, even a fraction of those shares would be worth billions today, provided Shannon Sharpe wouldn’t have become jumpy and prematurely sold in the last decade or so.
The NFL legend joked to Mark Cuban that if he had overruled his financial manager’s claim that the price was too high, he’d be a billionaire by now. Cuban agreed and offered a similar story of his own, which saw him turning down Nvidia stock before it became such a hot commodity.
Apparently, Cuban’s son pulled the trigger on purchasing shares of Nvidia before it was too late, and now, he frequently ribs his father for missing the boat.
Netflix Too?
Google isn’t the only stock opportunity that Shannon Sharpe missed because of poor advising, either. He quipped towards the end of the discussion that
“I f***ed up bad. Cause- Netflix and Google, and I had the money to do it, and I let somebody talk me out of it.”
Still, we shouldn’t have any fear that Sharpe’s investment strategies have him headed for the poor house, since sources around the web estimate that his NFL earnings and media empire have garnered a net worth of over $14 million.
While that’s a long shot from the multi-billion dollar figure he could have attained as an early investor in Google, it’s clear that he’s doing exceptionally well for himself.
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