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'We Ain't Rich. I'm Rich' Shaquille O'Neal Once Explained Why He Will Not Share his USD 400 Million Fortune With His Children
Shaquille O'Neal, a prominent figure in the NBA, prioritizes being a father and explained his decision not to share his USD 400 million fortune with his children
Some parents believe their children should learn the true value of money, and Shaquille O'Neal is one of them. The iconic basketball player once revealed that he had no intention of sharing his wealth with his kids; instead, he wanted them to earn their own money through hard work.
Back in 2023, Shaquille O'Neal made waves when he talked about his approach to wealth and his children. The former basketball star explained that he wanted his kids to grasp the importance of working hard, so they wouldn’t be receiving any of his fortune. For Shaq, his money was his own, not something to be passed down.
The NBA legend, who had built an enormous net worth, admitted his kids ‘didn't understand’ his decision at the time
Shaq, who was 50 years old back then, had earned a significant income during his NBA career, playing for teams like Orlando Magic, Los Angeles Lakers, and Miami Heat before retiring in 2011. In addition to his sports career, he had ventured into acting, released music, and pursued various business interests.
But Shaq, who ‘came from nothing,’ firmly believed in the value of hard work and was determined that his kids would earn their own wealth rather than rely on his.
Standing at 7ft 1in, Shaq was the highest-paid NBA player of his era, earning a massive $292 million ($240 million) between 1992 and 2011.
A series of endorsement deals with brands like Papa John's and Reebok had boosted his net worth to an estimated $450 million (£375 million).
He once shared that his children, Taahirah, Myles, Shareef, Amirah, Shaqir, and Me'arah, were still coming to terms with his decision not to provide them with handouts. Speaking on the Earn Your Leisure podcast, Shaq said, “My kids are older now. They’re kinda upset with me. Not really upset, but they don’t understand. “I tell them all the time. We ain't rich. I'm rich.”
Shaquille O’Neal laid out the expectations his kids had to meet if they wanted a share of his fortune
The Hall of Famer said, “You gotta have bachelor’s or master’s [degrees], and then if you want me to invest in one of your companies, you’re going to have to present it, boom boom boom, bring it to me.
“I’ll let you know, I’m not giving you nothing.” Shaq, who had grown up poor in Newark, New Jersey, came from humble beginnings. He previously told the New York Post, “I came from nothing. But, just because I made it doesn’t mean I’m bigger than you, smarter than you - just because I have more money doesn’t mean I’m better than you.
“I’ve never been that way and I never will be that way,” Shaq believed it was essential for his children to “figure it out” on their own, just as he did.
He added, “There’s one rule: education. I don’t care if you play basketball. I don’t care about none of that.”
Fortunately, his kids seemed to have upheld their end of the bargain. He had proudly shared with Hudson what each of them was up to, though he always had a special soft spot for his daughters. His eldest, Taahirah, had been working as a communications specialist and even worked for her dad at one point.
Shaq had admitted that he never raised his voice at his daughters. He once said, “You have to protect and provide for the ladies. So I give them incentive packages.” It wasn’t just two business degrees talking—this was the wisdom of a four-time champion who had negotiated with NBA teams.
The 2000 NBA MVP used his experience to keep his daughters on track. “I love my two daughters, I know that they’re watching. Daddy wants you to go to law school. He’ll hook you up.”
READ MORE: Did Shaquille O'Neal's Sons Get Drafted in The NBA? Fans Wonder As Lakers Draft Bronny James
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