Shaquille O’Neal has built up a massive $400 million net worth, but even he’s made some mistakes with his money in the past.
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The former Lakers legend is currently one of the hosts of the famous ‘Inside the NBA’ segment on ESPN where he finds new and hilarious ways to discuss and analyze the NBA.
There have been countless stories of how Shaquille O’Neal has spent egregious amounts of money at once. He holds the record for the largest purchase in Walmart history amongst other things, and so he holds a reputation for being a big spender.
Shaq’s net worth is enough to cater towards his lifestyle, but it also sometimes makes for some crazy stories. He’s built that net worth through strategic and valuable investments. He makes a great deal of money every year from his businesses, and it’s admirable to see.
26 years ago today was the last day of the Shaq & Penny era.
They were both just 24 years old and only played 3 seasons together. pic.twitter.com/AMbLLIwMWr
— Ballislife.com (@Ballislife) May 27, 2022
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Shaquille O’Neal fell victim to a scam
Shaq has changed a lot in his business model. At first, he was new to the game, and he couldn’t figure out exactly what he was supposed to invest in.
He went more by instinct than by research. He even claimed that he fall victim to those ‘invest $1 million now, get $3 million in a year’ claims.
“I lost a lot of money in the get-rich-quick schemes,” he said. And then, he mentioned that his worst investment was in a paper company which turned out to be a scam.
“It turned out to be a scam,” he noted bluntly. “If someone said give me a million and in three years, it’ll be $10 million — deals like that, I would take every time. … No research, no due diligence.”
Shaq has come a long way from there, and he’s followed the lead of big time businessmen including Jeff Bezos. “I heard the great Jeff Bezos say, ‘If you invest in stuff that’s going to change people’s lives, most of the time, you’ll win,’” Shaq said.
“I learned early that when I stopped thinking about the payouts, I’ll always be successful.”
Also Read: $400 million worth Shaquille O’Neal has just bought a “70 foot dinosaur”, that moves and drinks
