$400 Million Worth Shaquille O’Neal Was Scolded by a Friend’s Father for Criminal Mistake With $1 Million

Shaquille O’Neal is one of the richest sports personalities in the world. He ranks 20th on the list of the richest sports celebrities in the world. Talking about the richest basketball players, there are only a few with a higher net worth than Shaq. 

As of 2022, Shaq is valued at $400 million. He always makes sure to provide for his family and give back to the community. Even after countless and thoughtless charity work, Shaq lives a lavish life. 

Post-retirement, Shaq’s major business is owning multiple businesses. Shaq is wise with his investments and has successful business acumen.

WATCH THIS STORY: 5 surprising things owned by Shaq.

But this was not the case in his early days as an NBA professional. He learned these things with time and with the help of some invaluable advice.

Advice that changed Shaquille O’Neal’s outlook towards money

Shaq was very immature when it came to money, as he often says so himself. He had spent the 1st million dollars he earned as quickly as he earned them. He bought three cars, one for him, his father, and his mother each, in order to make them happy. Shaq admits that he had a lot to learn how to manage money and advice from a friend’s father helped him a lot.

Also read: Shaq spent his first million dollars to make his mom and dad happy.

“The father of someone I went to school with, Mr. Johnson—he called me into the office and says, “Shaq, I want to have a conversation with you about your money.” I was like, “Yeah. What’s up?”

He said, “You know, 50, 60% of all professional athletes when they’re done, they have nothing, and I don’t want you to.” Shaq shared.

“He pulled out a manila envelope, and he showed me my finances. So, you know I’m from the hood. Like, you know how you hear all these stories about how people steal money from you? The first name is FICA [Federal Insurance Contribution Act] for 250k, and I go off, ‘Yo man, who the fuck is FICA? I didn’t write no check for 250 for FICA.'”

He started laughing. He said, “Shaq, I want you to read this book.” He said, “I know you left school early, but you’re about to come into a lot of money. This can help you.” It’s the Dummies’ Guide to Starting Your Own Business. So I get it, and I read it, and I said: “Let me try it.”

Shaq explained how he learned the simple basics of business from a book on advice from a friend’s father. It is amazing how Shaq came all this way from that. A naive, immature young teenager to one of the richest sports personalities with immaculate businesses and investments.