NBA Legend Shaq Says He Didn't Even Start Spending His NBA Checks Until He Had Kids – 'I Had So Much Coming In'

Shaquille O'Neal is one of those rare NBA stars who transcended the game. But his success wasn't just about basketball – it was about mindset. 

In a 2022 CBS News interview, Shaq casually dropped a gem: "I didn't spend my first NBA check until I started having children. I had so much coming in, I was like, ‘NBA money over there and I'll just live off endorsement money.'"

That's right – Shaq was banking his $120 million NBA earnings while most rookies splurge on cars and mansions. Instead, he lived off deals with brands like Reebok and Pepsi. The secret? A wealthy mentor advised: "Rich people spend half, save half. Wealthy people take half of that half and then spend the rest." Shaq listened and it paid off – big time.

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Now worth $500 million, Shaq owns franchises like Papa John's and Big Chicken. He also made early bets on tech companies like Google and Ring, turning investments into gold. Oh and did we mention he's a real estate powerhouse too?

Shaq's financial wisdom didn't stop at saving; he was all about smart investments. In an October 2024 episode of Robert Mtz's ‘Creativo' podcast, he shared, "I have 40 cars and I don't know why." This self-awareness led him to diversify his portfolio beyond flashy purchases. He invested in 150 car washes and 40 health clubs, turning everyday services into revenue streams. His approach? Invest in what people need daily.

But even Shaq had his missteps. He famously turned down an early opportunity to invest in Starbucks, thinking, "Black people don't drink coffee." Reflecting on this, he admitted, "So now, every time I go to Starbucks and see Black people drinking coffee, I'm like …" followed by a facepalm. This taught him the importance of challenging assumptions in business.

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That said, Shaq also knows when it's time to pivot. In a 2021 episode of the Earn Your Leisure podcast, he revealed he sold his 17 Auntie Anne's franchises because, in his words, "Black people don't like pretzels that much." His decision wasn't rooted in assumptions this time but in observation and market analysis. "I wanted to switch it up," he explained, focusing on ventures with more cultural resonance and appeal.

Beyond business, Shaq emphasizes education and hard work to his children. He tells them, "We ain't rich; I'm rich." He requires his kids to earn two degrees before considering any financial support, instilling the value of self-reliance.

Shaq's story isn't just about making money; it's about keeping it – and making it work for you. His advice might sound simple, but it's life-changing if you stick to it. Save first, spend second and invest like a legend when opportunity knocks.

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