Shaquille O'Neal reveals How he paid his Family back after Earning First Million Dollars

Shaquille O’Neal reveals How he paid his Family back after Earning First Million Dollars

When talking about the biggest stars in NBA, it is not possible to count out Shaquille O’Neal. Shaq was not only one of the most dominant players in the league, but after retiring, he also made a name for himself as a celebrity. He has been featured in movies, roast shows and now he is an analyst. He is also a DJ, going by the name ‘Diesel’. Naturally, with so many accomplishments, money comes. But Shaq specifically remembers what he did with his first million dollars.

The big man was drafted by Orlando Magic in 1992 as the No.1 overall pick in the draft. This meant that he had a million dollars in his bank in the first year of the league itself. Being young and naive, Shaq brought himself a brand new car, which led to him facing adverse situations and learning lessons for a lifetime. He learnt how to manage money with this mistake, and now he is known for his shrewd investing choices. Here’s what Shaq said on how he spent his first million dollars, and what followed afterwards.

How Shaq spent his First Million Dollars

“When I got my first million dollars, I spent it! Because I had to pay my family back. First of all, I gotta get that black-on-black Benz for me. I’m riding through Newark, I’m letting them all know, ‘Hey, I made it.’ 

So when I get back to the crib, my dad says “where’s mine at”? So the Benz just cost 150k. A million minus 150k? In my mind, I got 850k left. So me and him, we jump in the car and went back to see the car dealer. I saw he had two in the black, and we had him bring the other out for my dad. I write the check. So now I got 700k left. 

We go home and my mom’s a little jealous so we say, “You know what, come get in the car.” So my dad and my mom are in his car, I’m in my car, and we get her the smaller one, it’s about 100k. I had no financial experience. I was very immature, I knew nothing. So then I go get some ice, suits, whatever, chains. So I do all of that—and a couple of days later I get a call from the bank.”

As you can infer from all these, it was quite immature of Shaq to spend the way he did. He didn’t know that he must put some money aside for taxes and other fees. However, Shaq learnt his lesson well, and now he also gives advice on how to invest money. Going by his lifestyle, Shaq has mastered the balance between enjoying life and investing money for later. A true inspiration for all of us.

Avishkar Govardhane is a Sports Editor and enthusiast, working here at Clout News covering the latest Cricket News.