NBA champion Shaquille O’Neal has an estimated net worth of $400 million, Face2Face Africa previously reported in 2021. Today, his estimated net worth hovers around $600 million, making him one of the richest retired players in basketball history.
Despite his massive net worth, the 7′ 1″, 325-pound giant grew up in a low-income household situated in the ‘Projects’ of Newark, New Jersey. Often called “Shaq’ or “The Big Aristotle”, the NBA legend was only an infant when his father was jailed on drug charges in Kentucky. When his father was eventually released from prison, he left his son’s life. And so he grew up with his mother and stepfather, Phillip Harrison.
In high school, he helped his school win the state championship. He subsequently went to LSU to study business and play basketball under head coach Dale Brown.
Shaq was a two-time All-American, two-time SEC player of the year, and became the NCAA men’s basketball player of the year in 1991. Also, he was named the college player of the year by the AP and UPI in 1991.
By 1992, Shaq had emerged as the No 1 overall draft pick in the 1992 NBA draft class. He became the first pick by the Orlando Magic and would spend 19 years in the NBA. He was not just an ordinary NBA player; he became one of the best centers in the league.
In the year 1992-93, Shaq won Rookie of the Year and led the Magic to the 1995 NBA Finals. He moved to the LA Lakers as a free agent. At Los Angeles Lakers, he helped the team win three consecutive NBA championships in 2000, 2001, and 2002. He won his fourth NBA championship with the Miami Heat in 2006 and also played for the Phoenix Suns, Cleveland Cavaliers, and Boston Celtics before retiring in 2011.
In his 19-year-old NBA career, he accrued wealth through contracts totaling $300 million. Now Shaq earns more than he did in his playing years. He now makes $20-$25 million per year. He makes his money from endorsement deals with companies such as Icy Hot, Gold Bond, Buick, Zales, and others.
Also, he is the joint owner of 155 Five Guys Burgers restaurants, 17 Auntie Annie’s Pretzels restaurants, 150 car washes, 40 24-hour fitness centers, a shopping center, a movie theater, and several Las Vegas nightclubs.
Shaq’s success story in the NBA and building a massive net worth tells a story of resilience and ‘can do spirit’. This is because he did not receive any handouts, coming from humble beginnings, and worked exceptionally hard to build the empire.
The NBA legend wants to transfer his experience and work ethic to his kids. On the latest episode of the ‘Big Podcast’, Shaquille O’Neal, spoke about his children and his style of parenting. He commented about his children exploring a variety of professions, including basketball. Asked if he walked his children through the ins and outs of college basketball, he stated that they are aware of the knowledge their father has about basketball and particularly college basketball, according to Essentially Sports.
Nonetheless, he noted that he allows them to figure out things for themselves, noting that times have changed from how things were during his active days as an NBA player.
His 16-year-old daughter, Me’arah O’Neal, is already receiving offers, but Shaq says he is focused on only guiding and being there for them.
“I like to let them live a life of trials and tribulations. I don’t want to always put it on a platter for them,” he said, according to Essentially Sports.
He further adds that he expects his children to have college degrees, and if they ever wanted to invest in their businesses, they would have to go through the process like any other entrepreneur.
He said, “I tell them I’m not going to hand it to you. You gotta earn it.”