Shaquille O'Neal isn't raising trust fund babies. The NBA legend made his fortune through basketball, endorsements, and smart business moves—but his kids? They're going to have to work for theirs.
In a 2023 Business Insider interview, Shaq made it clear: his kids don't get a free ride just because their last name is O'Neal. But he is willing to incentivize them—especially when it comes to higher education.
"I'm like, ‘If you go to law school and graduate, you get a big bag,'" Shaq said. "Because out of my six, they're the smartest. They're the ones that are probably gonna run the company."
And if a little bribery helps? So be it.
"Just go to law school for me, and I'll give you whatever you want," he added.
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No Handouts, Just Hustle
Shaq's philosophy on money comes from his own journey. He wasn't born into wealth—far from it. His father, Joe Toney, struggled with addiction and wasn't involved in his life. His stepfather, Phillip Arthur Harrison, was a military veteran who worked hard but didn't make much. When Shaq made it big, he immediately put his parents on salary.
During a 2022 "Drink Champs" interview, Shaq shared how he helped his stepfather out in a big way.
"I asked him, ‘How much you make in the Army?' He said, ‘I only make $60,000.' [I told him], ‘Now you making half a million a year.' He started crying."
That kind of financial responsibility stuck with him—and now he's passing it down to his kids.
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Education Is the Ticket
This isn't the first time Shaq has made it clear that education comes first in his house. On a 2021 episode of the "Earn Your Leisure," he laid out his rules:
"I don't care if you play basketball. I don't care about none of that. Listen, I got six kids. I would like a doctor, somebody to own a hedge fund, a pharmacist, a lawyer, someone that owns multiple businesses, someone to take over my business. But I tell them I'm not going to hand it to you. You gotta earn it."
Shaq Isn't Alone in This
Other wealthy parents share Shaq's mindset. Jerry Seinfeld, for example, has his own way of keeping his kids grounded. In an episode of ‘Comedians in Cars Getting Coffee,' he told Kevin Hart how he handles the "Are we rich?" question.
"You know what I say?" Jerry asked. "I am. You're not."
See Also: Are you rich? Here’s what Americans think you need to be considered wealthy.
Warren Buffett notoriously lives by the rule: Give your kids enough so they can do anything, but not so much that they'll do nothing.
Elon Musk, the richest man in the world, shares that mindset. Despite having 14 children, he has no plans to simply hand over his companies. He's made it clear that leadership in his empire will be based on merit, not family ties. While some of his kids might prove worthy successors, he's also open to choosing an external protégé if they show more promise. The future of his businesses isn't a given for his children—it's something they'll have to earn.
It's clear Shaq isn't just raising rich kids—he's raising capable ones. And if a little legal-degree bribery helps? Hey, whatever works.
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