Since July 2021, the NCAA has allowed its athletes to sign Name, Image, Likeness (NIL) deals, helping elite college athletes earn money without needing to turn pro. Angel Reese is among the first wave of athletes who signed a NIL deal and has already generated millions through it. Meanwhile, her self-anointed “uncle” Shaquille O’Neal is jealous of NIL athletes making big bank at a young age, while he had to wait for a huge paycheck till he joined the NBA in 1992 at 22 years old.
Advertisement
On her Unapologetically Angel pod, when Reese asked O’Neal his thoughts about the influx of NIL money among college athletes, Shaq didn’t hesitate to express his envy at not having such a structure during his NCAA days with LSU from 1989 to 1992.
At the same time, O’Neal was glad that college athletes could now attain some financial freedom. However, he also urged them to use their money wisely. O’Neal told Reese, “I’m jealous and I’m pissed off [about NIL money].. I’m happy for these kid, I just hope they’re smart with it.”
Then Shaq shared how he would have spent his money if he earned $3 million through NIL deals in college.
“I probably would have broke a million for my parents, I would have kept 500,000. I would have put the rest away and know that kept me hungry and just go out and get there more deals but I think the problem is sometimes you get the little money and all you want is money, you forget about the big money.”
O’Neal is well-equipped to talk about financial matters after building his mega millionaire status. He always directs people to save money, even if the paycheck is small. Earlier this year, he told CNBC, “Save, save, save. Put away a piece of every paycheck. Even if it is only $50 or $100, it will add up throughout the year.”
For O’Neal, money isn’t just a means to fulfill individual needs, it is a pathway to build generational wealth. His parents have played a huge role in shaping his ideology in this regard.
Shaquille O’Neal is devoted to his parents
Shaq’s mom Lucille O’Neal and stepfather Phillip A. Harrison always taught him to value money and imparted him various other lessons to remain steadfast in his quest for a successful NBA career. These factors played a huge role in enabling O’Neal’s financial growth.
He rewarded his parents amply for their terrific upbringing. He put them on his salary and shared whatever he made through his NBA earnings. His stepfather, who was an Army veteran, earned $60,000 a year through his service, but when O’Neal put him on his salary, his annual monetary returns increased 8x times.
During an interview with Drink Champs, O’Neal narrated the incident, saying,
“So, [the] first thing I did was incorporate ‘Shaq’ and then I put my mom on salary and put my dad on salary…. [I asked], ‘How much you make in the Army?’ [He said], ‘I only make $60,000.’ [I told him], ‘Now you making half a million a year.’ [He said], ‘What?’ He started crying.”
O’Neal is a prime example of using wealth to help everyone who is near and dear to him. This approach has kept him grounded and not lose sight of what he wants to do. He serves as a brilliant example of acquiring financial security while also building prosperous futures for family members.
