Shaquille O’Neal’s $400 million fortune came about one “50/50” golden rule 

Hemanth Amar | 04/08/2022
Shaquille O'Neal's $400 million fortune came about one "50/50" golden rule 

Successful Businessman and investor, Shaquille O’Neal recommends saving money from every paycheck, no matter how much you earn.

Shaq, like many other exceptional basketball players, left college early to pursue a career in the NBA. Despite his reputation as a poor free-throw shooter, he was a prolific scorer who won numerous awards, including Rookie of the Year, league MVP, and 15 invitations to the NBA All-Star Game, in addition to four championships.

However, if you watched him on TV after a game, you wouldn’t be surprised to learn that he spent a million dollars within 30 minutes of joining the league. This prompted a phone call from his banker, who chastised him and warned him that if he continued, he would end up broke like so many other NBA players.

Shaq apparently took it to heart and decided to study business and finance. He returned to school, completed his bachelor’s degree, and then pursued an MBA. He completed his doctorate degree in 2012. That’s correct: he’s now Dr. Shaq.

More importantly, he put those lessons to use by purchasing hundreds of businesses, including 172 restaurants, 150 car washes, 40 fitness centers, a shopping mall, a theatre, and a few nightclubs. We believe he now makes far more money than he did as an NBA player.

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Shaquille O’Neal recommends saving money from every paycheck irrespective of how much you make

NBA Hall of Famer Shaquille O’Neal, formerly of the Los Angeles Lakers, shares his best money-management advice and tips for running a small business.

During his NBA career, Shaq earned an estimated $700 million, ranking tenth on Forbes’ list of the highest-paid athletes of all time. That’s a lot of money to make in a basketball career, and he’s kept himself busy since retiring. Shaq went into business for himself and built a fortune.

Shaq’s money advice is geared toward saving: “It’s not about how much you make, it’s about how much you keep,” Shaq says. “Save 75% of your earnings and put it aside.” Use the remaining 25% as you see fit.”

“Saving, saving, saving.” “Save a portion of every paycheck,” Shaq advises. “Even if it’s only $50 or $100, it will add up over the course of the year.”

That’s sound financial advice, especially if you invest in a high-yield savings account that earns compound interest.
When Shaq embarks on a new business venture, he seeks advice from the best people in the field. After all, seeking advice can assist you in networking and expanding your business.

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Post Edited By: Jeet Pukhrambam
NBA Shaquille O'Neal

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Hemanth Amar

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