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When Shaquille O’Neal Felt Disrespected Over Credit Check Request While Making USD 1 Million Dollar House Purchase
Here's how and when one of the most succesful and famous leader in retired NBA faced money issues over USD 1 million for a house. Take a look
Financial hurdles can affect anyone from a wealthy family or middle class. In 2019, Shaquille O’Neal, an NBA legend and one of the most commercially successful retired athletes, faced an obstacle while trying to buy a $1 million house for his mom, Lucille O’Neal.
The real estate agent's request for a credit score report dampened his dream of giving her the luxurious home in an undisclosed location.
This experience, which Shaq shared during a 2021 interview on “Earn Your Leisure,” recently resurfaced on social media, revealing a rare moment of frustration for the basketball icon.
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During the interview, Shaq expressed his surprise and indignation at the agent's request. “I was, like, ‘I beg your pardon?’” he recounted. Although his mom tried to calm him down, Shaq felt disrespected by the agent.
Confident in his financial stability, he assured the agent of his ability to purchase the home with ease and insisted on a 10-day closing period. This incident highlighted an unexpected challenge, showing that even high-profile individuals can face mundane financial scrutiny.
Before this incident, Lucille O’Neal had been living in Shaq’s Orlando property. Shaq has always been known for his generosity towards his family, using his NBA earnings to support them.
On “Drink Champs,” he shared how he used his Orlando Magic contract to create a brand and employ his parents, offering them nearly seven-figure salaries. This act of giving back underscores Shaq's commitment to supporting those who supported him throughout his career.
Shaq's experience with the credit check request stands in stark contrast to his entrepreneurial success and financial acumen. Drafted as the No. 1 pick in the 1992 NBA draft, Shaq signed a four-year contract worth $17.4 million.
He generously gave his stepfather, Phillip Harrison, a job worth $500,000 a year and provided his mother with a $750,000 annual salary. Shaq incorporated “Shaq,” set up a fan club, and provided his parents with an office and a car. His net worth is around $400 million, with $292 million earned from his 19-year NBA career and over $200 million from endorsements. Today, he still earns about $60 million per year from endorsements and various business ventures.
Shaq's entrepreneurial endeavors include being the second-largest shareholder in Authentic Brands Group and owning nine Papa John’s franchises, earning a substantial income from his association with the company.
His entrepreneurial journey is a far cry from his early days in the NBA, where he admitted to blowing away $1 million on a black Mercedes and jewelry, leaving him in debt between $50,000 and $60,000. This financial misstep taught him a valuable lesson in money management that he ensured not to repeat.
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