Before Losing $500,000 on a Lamborghini, Shaquille O’Neal Splurged $60,000 on a ‘Rust Bucket’

Shaquille O’Neal is without a doubt one of the greatest players of all time. Apart from that, he also happens to be one of the richest. After all, he has accumulated a net worth of $400 million.

But, how did he become so wealthy? His earnings as an NBA superstar aside, Shaq has made several smart decisions as a businessman. From his investments to his entrepreneurial ventures, everything has been handled brilliantly.

That being said, some of his business decisions in his younger days were questionable. Like the time he bought a Ford Fairlane convertible for $3800. A smart purchase, but one that was offset by the fact he spent $60,000 to spruce it up.

Shaquille O’Neal once spent $60,000 to fix up a ‘Rust Bucket’ Ford Fairlane convertible

Most athletes around the world go a little crazy when they get their first paycheck. They spend their money on a variety of things. More often than not they are things they don’t need.

However, there are times when even veteran players make some interesting purchases. And, one player who has done so on several occasions is Shaquille O’Neal.

Shaq always fancied himself a good businessman, and he has the receipts to show that he has done well for himself. But, back in the day, he had a policy, buy something and make it better. So, he did just that when he paid $3800 for a Ford convertible. A convertible he ended up spending $60,000 on, as he revealed in his book Shaq Uncut.

“That was my mentality back then. Buy something, then make it bigger and better. I went to a place on Lee Road in Orlando and bought a Ford Fairlane convertible. I turned it into what Dennis Tracey and I called my first Hoop-D. I put about sixty thousand dollars into it to get it the way I wanted. By the time I was done with that car, it could jump up and down and shake side to side. There were speakers inside every available panel. That car was literally rocking.”

$60,000 on a car that many define as a ‘Rust Bucket’ is quite a lot. Then again, this isn’t the first time The Big Aristotle has spent big on cars. But, one time, he spent big and lost big.

Shaq lost $500,000 on a Lamborghini he sold to Amare Stoudemire

Dropping $60,000 on a Ford Fairlane is nothing compared to one of Shaq’s biggest blunders. In a shocking turn of events, the four-time NBA Champion once sold his $600,000 Lamborghini to his Phoenix Suns teammate, Amare Stoudemire for a measly $120,000. Why? Because according to his calculations, he would be able to pay for another car costing $110,000 and invest the extra $10,000 on it.

Unfortunately, O’Neal forgot to check the real price of his Lambo. Thus, losing close to $500,000 in the process.

Safe to say, Shaq learned to always do his due diligence after that sale. But, Amare Stoudemire is certainly happy he didn’t.