Shaquille O’Neal came from an ordinary household. But when he made it big, he made sure to splurge it on the people he loved the most. In fact, O’Neal spent his first paycheck from the NBA buying three Mercedes for his father, mother, and himself. However, O’Neal has come a long way from splurging his money on materialistic desires.

Since retiring from the NBA, Shaq has made some smart business choices and investments. That has resulted in O’Neal building a $400 million empire over the years. 

O’Neal gives wise financial advice

Apart from spending it big on lavish and luxury items for himself, O’Neal had also paid tuition for 15 of his friends who wanted to pursue their master’s degrees. But now, Shaq does not believe in giving out handouts. 

Instead, he believes in investing in people and their ideas so that he gets some return on his money. And that is exactly what he had to say to an audience member while on a show. O’Neal sat down with Gary Vaynerchuck and had a long-spirited conversation on money, business, greatness, success, kindness, and more. 

Read More – “We Saw a Guy Eating Dirt”: Shaquille O’Neal, Who Hates Ben Simmons’ $300,000 Gucci Chains, Reveals a Dark Sight He Witnessed

Shaquille O’Neal appeared on Gary Vaynerchuk’s YouTube channel and discussed various aspects of life. They also had a Q&A with the audience. And that’s when one guy mentioned how money ends up changing people and their relationships.

So he asked both Gary and Shaq if they had any practical advice on how to deal with money when it comes to the people from your inner circle.

Shaq said, “I have a lot of friends. And when I first got made big time, I said you’ve been down with me, I’m down with you, what do you wanna do? And they give me an idea, we create an LLC. You work for me now, I’m not just gonna give you money.”

Another brilliant way how O’Neal made his millions

Money can be a huge factor to strain relationships between people and Shaq has had his fair share of such experiences. Later, Shaq mentioned that the person was right when he said that money does change people. 

Shaq reiterated that the man should create an LLC, place the people who asked for money on payroll and try to get some of that money back. That sure is some really wise advice from O’Neal, who once had no knowledge of the cogs of a business.

Watch This Story – Shaquille O’Neal’s biggest donations will shock you

That is why he advised the man to create something with them in terms of business instead of just giving handouts. Because that way the man will be able to get some of that money back as opposed to just lending the money and never seeing it again.