Shaquille O’Neal is one of the greatest centers of all time, whose dominance spanned multiple decades. The Newark, New Jersey native started his NBA journey in 1992 with the Orlando Magic.
Shaq spent four seasons in Florida, leading the Magic to their first-ever NBA Finals berth before changing the landscape of the league with his move to the L.A. Lakers.
Once the franchise drafted Kobe Bryant and hired Phil Jackson, Shaq became the centerpiece of one of the sport’s most dominant dynasties.
O’Neal brought this historic franchise three straight championships, winning Finals MVP on each occasion. The superstar center went on to play for four more teams after that run, compiling a resume that very few in league history can compare to.
Throughout his 19-year NBA career, Shaq has earned over $286 million. He currently has a net worth of $500 million and is involved in several lucrative ventures off the court.
Despite his financial success, O’Neal has several spending regrets, particularly from the early stages of his career. But one decision stands out above the rest.
Shaquille O’Neal revealed his biggest financial regret
O’Neal has always been hesitant when discussing his expenditures, but during an interview on “Tommy Talks,” he expressed his regret over a past car purchase.
Shaq admitted that buying a Ferrari and renovating the vehicle cost him close to $700000, and this move aged very poorly.
“Don’t really like talking about money all the time, made a lot of ’em (financial mistakes). (But) let’s go to the stupid mistakes – bought a $200,000 Ferrari. Spent $200,000 to stretch it and another $100,000 on stereo equipment. So, I spent about $700,000 on a car that I rarely drive. That’s some dumb stuff. When I was young, I used to invest in things for monetary purposes and failed a lot.”
Shaquille O’Neal credits controversial entrepreneur’s advice for sparking financial success
Shaquille O’Neal has a diverse financial portfolio predicated on innovative projects and improving the lives of others. The all-time great center has invested in car washes, health clubs, nightclubs, and even owned multiple eating establishments like Auntie Anne’s, Five Guys, and Papa John’s.
Shaq has also profited from his lucrative endorsement deals with multiple industries including food/beverage, apparel, and automotive.
O’Neal assessed that this versatile mindset was inspired by a conversation with Amazon founder Jeff Bezos, and credits this change in strategy with significantly increasing his net worth and ability to positively influence people’s lives.
“I heard Jeff Bezos say, ‘You invest in things, it is going to change people’s lives.’ Once I adapted that strategy, I became more successful.”
Shaq has dedicated a lot of his wealth towards charitable causes. His foundation primarily focuses on creating pathways to success for underserved youth.
Through partnerships with organizations Boys & Girls Clubs of America and Communities in Schools, the foundation has provided thousands of toys, clothing, meals as well as other services to children across the country.
In addition, O’Neal has funded the construction of affordable housing units in Newark to help address the homeless crisis in his hometown. For his charitable efforts, Shaq was awarded the 2024 Muhammad Ali Humanitarian of the Year Award.
Today, along with the various commercials he appears in, Shaq is seen most prominently on the studio show “Inside the NBA” alongside Ernie Johnson, Kenny Smith, and Charles Barkley.
The Emmy-winning show will now make the transition from TNT to ESPN for this upcoming season. The NBA year starts in less than a month now, and O’Neal is surely happy to see the revival that has recently taken place at the center position.
The three-point revolution and rise of the small-ball put the big man role in jeopardy, but centers like Nikola Jokic and Joel Embiid have adapted the position to dominate the modern-day game.
As he gives his unique analysis of what’s happening on the court, Shaq will surely continue to dominate off of it as a business titan.