Millionaire Shaquille O’Neal Once Unknowingly Made Tax Blunder That Led to Massive $500,000 Loss

Shaquille O’Neal’s time in the NBA is nothing less than legendary. He won four NBA titles with the Los Angeles Lakers and the Miami Heat along with numerous individual accolades.

Moreover, he has tasted success in the world of business as well. Shaq has a massive net worth that is a result of making some smart investing and business decisions. However, he made a huge blunder that cost him hundreds of thousands of dollars. 

Talking in an interview, Shaq gave his insights regarding the world of business and sports entertainment. He stressed the importance of knowing about your taxes and paying them on time. Interestingly enough, he talked about how a blunder cost him around $500,000.

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Shaq said, “One time I got a million dollars cheque and I thought it was million dollars but I only got around $500,000 because FICA. But guess how much I spent? A million dollars, which means I was $500,000 in the hole.” 

How much did Shaquille O’Neal earn in the league?

Shaquille O’Neal was a star ever since he got drafted by the Orlando Magic in 1992. The 7-foot-1 inch center had already made a name for himself playing for the LSU Tigers and it was time for him to do the same in the NBA.

During his rookie season, he averaged 23.4 points, 1.9 assists, and 13.9 rebounds. These numbers earned him the Rookie of the Year award.

He played for a number of teams in the NBA. However, he left his mark on the Magic, the Los Angeles Lakers, and the Miami Heat. In 20 seasons in the NBA, Shaq earned almost $300 million in salaries alone. Moreover, he earned an estimated $200 million in endorsements. 

Thanks to his success on the basketball court and his business ventures outside of it, Shaq has a huge net worth. O’Neal has a net worth of around $400 million, according to Celebrity Net Worth. 

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