O'Neal is also an active businessman and investor. He was an active bond investor in the early 1990s but continued to wade into stocks and made investments in various companies such as General Electric, Apple, and PepsiCo. He described what has worked best for him in stock investing was where he felt a personal connection with the company.[211] He has also been an active real estate entrepreneur. O'Neal was looking to expand his business ventures with real-estate development projects aimed at assisting Orlando home owners facing foreclosure. His plans involved buying the mortgages of those who had fallen into foreclosure and then selling the homes back to them under more affordable terms. He would make a small profit in return, but wanted to make an investment in Orlando and help out homeowners.
In conjunction with Boraie Development O'Neal has developed two projects in his native Newark, CityPlex12 and One Riverview and a potential project in Atlantic City.
O'Neal is on the advisory board for Tout Industries, a social video service startup company based in San Francisco. He received the position in return for breaking news of his NBA retirement on the service.
In September 2013, O'Neal became a minority owner of the Sacramento Kings.
In June 2015, O'Neal invested in technology startup Loyale3 Holdings Inc., a San Francisco brokerage firm whose website and mobile app enables companies to sell a piece of their IPOs directly to small investors who put up as a little as $100 and also allows investors to regularly buy small amounts of shares in already public companies.
Shaq is an investor for esports team NRG Esports. He has also appeared in television commercials promoting the Counter-Strike: Global Offensive league ELeague.