Shaquille O’Neal hasn’t left much to fans’ imaginations when it comes to how he acquired his wealth. Most of his investments and business ventures are public knowledge due to him speaking on them over the years. Through it all, he’s remained honest on who inspired him from the get-go to aspire for more in the financial realm.
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“All this money, you’re making, if you save it, you can invest it and start collecting at 50, 60, and 70,” said a man to Shaq when educating him on financial literacy. O’Neal has been incredibly vocal about saving money and staying frugal.
Shaq knows that it isn’t about how much you make but how much you’re able to retain. “Save 75% of your earnings and put it away. Use the other 25% as you please.”
So, while on the ‘Straight Game’ podcast, the Lakers legend shared who first got him started on this journey of finance outside of the NBA. To no one’s surprise, it was Magic Johnson.
“I went to one of his events. I’m the type that jealousy motivates me. So, when I first got to LA, I’m not Shaq yet. I’m watching Magic do his thing. I’m like, I want his spot. That’s going to be me one day.”
Being a competitor as fiery as Shaq, finding new ways to motivate yourself does seem to be a never-ending cycle of personal growth. So, if he finds solace in being a bit envious/jealous of people ahead of him in life, then more power to him.
Shaq looked up to more than just Magic’s financial skills
Shaq spoke these words into existence as he is now worth a reported $500 million. His role as one of the largest shareholders in Authentic Brands Group has given him part ownership and equity over everything ranging from Reebok to Elvis Presley.
It wasn’t just Magic’s business acumen that Shaq took inspiration from. His light-hearted demeanor spoke to O’Neal. “I’m watching him and you know, he’s nice to people. He’s smiling. He’s doing business deals. He’s giving his phone off to people. So, I definitely watch that.”
O’Neal’s motivation didn’t just come from hearing and seeing Johnson. He got advice from the 5x champion as well.
“You need something to fall back on because basketball is not going to live forever,” said Magic to Shaq. “He tells me at 18. 18 years old, I was like, what the h*** is he talking about?”
Now at age 53, the ‘Big Aristotle’ knows exactly what he was talking about 35 years ago. It’s safe to say he’s gone above and beyond to prove the same.
