Shaquille O'Neal who once spent $8,000,000 in two days, made all his friends join college because they wouldn't let him do it alone
Shaquille O'Neal is arguably the most dominant big man in NBA history. Over time, he has become a popular celebrity across America, part of Hollywood and also a DJ.
O'Neal's financial habits were once questionable, as he splurged money on more than one occasion. When O'Neal signed a $100 million contract to play for the LA Lakers, he nearly spent an entire year's salary in less than 48 hours.
Here's what he said on the "Wild Ride" podcast:
"So I go to the Rolls-Royce store in some sweatpants. And I asked a guy how much this car costs, and he said $250 [thousand].
"And in my mind, I didn't want to spend $250 for a car, so this guy says to me, 'Can you afford it, Sonny?', and I then bought three cars right there that were a million dollars. And then I'm riding through Beverley Hills, and I see a beautiful house in the mountains that was $7 million, and I buy the house.
"I've spent $8 million in two days. So then my guy calls me and says to me that I've spent my whole check. I've said to him that I'm getting 20 million, and he says no; in California, 20 million is 10.5. So after that, I really had to slow down."
On another occasion, O'Neal paid for his 15 friends to go to college and get a master's degree.
In an interview on the “Be Better Off Show”, O’Neal discussed that he sent his friends to college as he wasn't allowed to go alone. The reason he wanted to go to college is to get better at business skills.
"I noticed that every time I go to a business meeting, the guys we're doing deals with will be like, 'Hello Shaq, how are you doing?," O'Neal said. "And then they would turn away and look at my lawyers, accountants, and all those guys. So I said, 'Oh, you guys don't think I'm in charge? You guys don't think I understand the lingo?'
After this, Shaquille O'Neal went to get a Master's degree from the University of Phoenix and paid for 15 friends to attend classes with him.
"So I went and got my Master's from the University of Phoenix," O'Neal said. "The University of Phoenix is an online program mostly, but I went to the head officials and said, 'I don't wanna do it online, I want somebody to teach me in a class,' and then they came back and said, 'Unfortunately, we can't set up a classroom for one guy. You need 15 people.'
"So I paid for 15 of my friends to get their masters."
What is Shaquille O'Neal's net worth?
Shaquille O'Neal has a staggering net worth of $400 million. He has accumulated this over time with basketball contracts, endorsements, and business ventures.
Shaq made an estimated $286 million as an NBA player, as per Spotrac. His biggest deal came when he was signed to the Lakers which was a seven-year, $120 million deal in the summer of 1996.
Shaquille O'Neal also earned an estimated $200 million in endorsements while he was playing.
According to Money.com, he once owned up to 155 Five Guys restaurants. Later, O'Neal joined the board of directors at Papa John's. This role earned him $8.25 million in stock and salary over a three-year period. An extension in 2022 was signed for another three years and $11 million.
O'Neal also owns gyms and car washes. He also had investments in the Ring doorbell company before Amazon bought it for $1 billion in 2018.
Aside from this, Shaquille O'Neal has several other ventures, investments, and endorsements. He also had several real estate properties. All of this sums Shaquille O'Neal's total net worth to around $400 million which is likely to grow over the years.