Shaquille O’Neal may be most known for his time on TNT’s Inside the NBA lately, but the big man also has his own show, called ‘The Big Podcast’, where he arguably speaks far more candidly than he ever does on TV. During the podcast’s most recent episode, O’Neal, Adma Lefkoe, and the NFL star, Kirk Cousins were talking about O’Neal’s time with Orlando and how it was a shame that it came to an end.
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With Shaq having chosen to go to the Los Angeles Lakers over not getting the contract he desired from the Magic, many assumed that he was happy with the payment he received in California. But, as it turns out, the Lakers legend is a bit salty about one aspect of it to this day. Prior to revealing what it was, the following was the exchange he had with the Atlanta Falcons quarterback.
“Cousins: The contract [with Shaq] we [the Orlando Magic] couldn’t get done. That’s the part that bugs me. It is that we couldn’t keep you in Orlando for the whole run. It bothers me.
Shaq: I know. [Looks down with disdain]
Cousins then explained his connection as a fan with the Orlando Magic, before O’Neal revealed what irks him about his contract with the Los Angeles Lakers, to this day.
Cousins: [Me] being a guy from West Michigan, the family that owns the team [the Orlando Magic is from there… Shaq knows it takes a commitment [by the franchise]. It takes saying we’re doubling down on this we’re selling the farm a little bit to do this.
Shaq: But, you know what really p**sed me off about that contract? So, what did I make in LA? $120 [million]? [shakes his head in disappointment]. Really made $60 [million].
California state tax is infamous for being far too high for most people to afford. So, while he did sign a seven-year, $120 million contract with the Lakers in 1996 [per Lakers Nation], it really is likely that taxes ate up close to half of O’Neal’s money. On the other hand, the state of Florida is known for having no state income tax, per Tax Foundation. This means that if O’Neal had received $120 million from the Orlando Magic, he would likely have pocketed all of that money.
The good news here is that Shaquille O’Neal has a net worth of a whopping $500 million today, as per Celebrity Net Worth, so it wasn’t disastrous for the big man in any way. That said, given how savvy the 52-year-old has been with his money across his life, who knows just how much that money could have grown to become?
As life went on he learned a valuable lesson from this mishap. At one point in 2023, he even revealed how he writes off taxes today.
Shaquille O’Neal speaks on how he writes off his taxes
Shaquille O’Neal has always been a family-oriented man. He is one who just loves to spoil those close to him as much as he can, especially his parents. As he revealed in 2023, this was something he was able to take to the next level, after he learned of a way to avoid taxes.
“I learned about business, not from college, I learned about business from a book, called ‘The Dummies’ Guide to Starting Your Own Business’. And the first thing I did was incorporate my family… First thing I did was incorporate ‘SHAQ’ [his personal brand]. And then I put my mom on salary, and put my dad on salary. And I got them an office, I got them a car. And they were so proud because, the best day of my life was [asking his father] ‘How much you make in the army?’, ‘I only make ‘$60,000’. ‘Now, you make $500,000 a year’. ‘What?’ He started crying…”
O’Neal may be most known for his funny side and NBA career. However, the 7ft 1″ man has also shown himself to be a very astute individual, when it comes to the lessons of life. Having learned several different lessons the hard way, it is no wonder he is as successful as he is today.
