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Shaquille O’Neal’s Million Dollar Advice on Saving and Managing Money
Shaquille O'Neal shares his million-dollar advice on saving and managing money, revealing key financial tips that helped him build and maintain his wealth. Learn how to secure your financial future—read more.
Shaquille O'Neal, known as "Shaq," is widely celebrated as one of the greatest centers in basketball history. Standing at 7 feet 1 inch, he dominated the NBA for 19 seasons across six teams, securing four NBA championships—three with the Los Angeles Lakers (2000-2002) and one with the Miami Heat (2006).
O'Neal achieved numerous accolades, including 15 All-Star selections and the 1999-2000 MVP award. He ranks among the top ten in several all-time statistical categories, such as points and rebounds. His legacy was cemented with his induction into the Basketball Hall of Fame in 2016 and the NBA 75th Anniversary Team in 2021.
Beyond his legendary NBA career, Shaquille O'Neal has also achieved significant success in business. He demonstrated a keen understanding of financial literacy early on, investing in various ventures, including a rap record label called "T.W.isM" in the mid-1990s.
As of 2024, Shaquille O'Neal's net worth is estimated at around $500 million. This wealth is attributed to his outstanding NBA career, where he earned approximately $292 million in salary, coupled with over $200 million from endorsements. In retirement, Shaq continues to earn about $60 million annually through various business ventures and endorsements.
Shaquille O'Neal, one of the most successful businesspeople, offers valuable advice on saving and managing money for young people.
"Alright, kids," he begins after asking Pisani for a blank sheet of paper. "Here's $100," he says, pointing to the paper. "Rip the $100 in half."
Take one half and "save it. Never touch it. Put it away and don’t even look at it. With the remaining $50, smart people and billionaires will take half of that and save it," he explains, placing another quarter of the paper in the "save pile."
"This remaining quarter is your fun money," he continues. "If you want to buy houses, cars, planes, or travel, use this for fun."
In summary, O'Neal advises saving and investing 75 percent of your earnings for retirement and long-term goals, while living off the remaining 25 percent.
Shaquille O'Neal boasts a diverse business portfolio, including ownership of 155 Five Guys franchises, 40 24-Hour Fitness centers, 17 Auntie Anne's Pretzels franchises, 150 car washes, 9 Papa John's locations, Krispy Kreme franchises, and the Big Chicken restaurant chain. He also invests in tech companies like Apple and Google and is involved with Authentic Brands Group, which manages his brand and likeness.
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