Who owns JCPenney? How much stake does Shaq O'Neal have?
JCPenney (JCP) is an American-based department store chain dealing in several brands and products. The franchise has over 669 stores located across 49 states in the United States and Puerto Rico. However, JCPenney has been operating on losses since the early 2010s and closed some of its stores around the United States.
Source: Getty Images
In May 2020, the department store chain filed for Chapter 11 bankruptcy protection before it was bought in September 2020. Read here for more on the current owner of JCPenney.
Who owns JCPenney?
The department store chain is owned by Brookfield Asset Management and Simon Property Group. Simon and Brookfield bought JPC in September 2020 after the store filed for bankruptcy in May 2020.
Who is the CEO of JCPenney now?
Marc Rosen is the Chief Executive Officer of JCP. He assumed office on 1st November 2021 after the resignation of former CEO Jill Soltau. Marc was previously a top executive at Levi Strauss and Walmart.
Is JCPenney a private company?
JCP is a private company and does not trade on the stock exchange. It ceased trading publicly after being bought by Simon Property Group and Brookfield Asset Management in September 2020.
Does Shaquille O'Neal own JCPenney?
Source: Getty Images
The retired basketballer does not own JCPenney. However, he is the second-highest individual shareholder of Authentic Brands Group, a brand development, marketing, and entertainment firm. ABG owns numerous entertainment, lifestyle, and global media brands, including Forever 21, Barneys New York, JCPenney, Marilyn Monroe, Elvis Presley, and Reebok.
What does Shaquille O'Neal own?
What franchises does Shaq own? Shaq is undoubtedly one of the most successful retired basketball athletes. He owns a number of franchises, including several Five Guys Burgers and Fries, 17 Auntie Anne's Pretzels, 40 24-hour Fitness locations, 150 car washes, a shopping centre, a movie theatre, several Las Vegas nightclubs, and 1 Krispy Cream franchise.
Other brands Shaq owns are Marilyn Monroe and Elvis Presley. He also has investments in Google, Authentic Brands Group, Lyft, Vitaminwater, Ring, Papa John's pizza chain, eSports and Loyal3.
Does Shaq own Marilyn Monroe?
The retired basketball athlete has licensing rights to Marilyn Monroe and Elvis Presley brands. He earned the rights after investing in Authentic Brands Group in 2015.
What is Shaq O'Neal's net worth?
The former NBA athlete has an estimated net worth of $400 million in 2022. His annual salary is about $60 million.
JCPenney has been doing better since being brought out of bankruptcy by Simon Property Group and Brookfield Asset Management. However, the true extent of the franchise's financial performance may not be known since it is no longer publicly traded.
READ ALSO: Who owns TikTok in 2022? Everything to know about the popular app
Briefly.co.za highlighted lesser-known facts regarding the owner of TikTok. The social media app has been rising in popularity, and many stars with huge followings on the platform are earning well.
TikTok was established in 2014 and has experienced great commercial success over the years. Check the article to find out who is the largest investor.
Source: Briefly News
