Shaquille O’Neal is one of the most successful basketball players on and off the court. The man has earned hundreds of millions through NBA contracts, endorsement deals, and business ventures that have ensured that he gets looked at as an idol to players about how to spend their money after retirement.
As a player, Shaq might have been fiscally minded but would make incredible purchases sometimes. One time he did so was when the Miami Heat traded him to the Phoenix Suns and he had to furnish his new Phoenix apartment in the middle of the night. That endeavor led to Shaq’s credit card being declined and the big man setting the record for the largest purchase in Walmart history.
“I have the biggest purchase in Walmart history. $70,000 in Walmart. So, I get traded from Miami to Phoenix. I am the type of guy that has no patience. So I get to Phoenix and know that they have an apartment for me but nothing is in it. So 2-3 in the morning, I gotta go get 4-5 TVs, I gotta get printers, I gotta get laptops, appliances, sheets, towels, underwear, t-shirts. At the end of it, my bill was $70,000 and it got declined. So I pulled it out ‘ahh’ *rubs card on t-shirt* and put it back in. It said declined again so I said, ‘I know I am not broke’. Then American Express security called me, ‘hey man, somebody stole your credit card and spent $70,000 at Walmart’. I said, ‘no, that was me’. They turned it back on, it’s a true story.”
Shaquille O’Neal went through a number of stops in his NBA career, but he had no better arrival to a city than Phoenix. Hopefully, the Walmart employee that helped Shaq got a hefty tip on top of the $70,000 that Shaq spent inside the store.
Shaquille O’Neal And His Business Empire
Shaq said it himself, ‘I know I am not broke’. He said that because even beyond the money he made from his NBA contracts, Shaq has earned massive amounts of money through business ventures. His ‘Dunkman‘ brand, which provides affordable basketball sneakers, is valued to be nearly a billion dollars.
Among the list of thing Shaq owns currently to build up his $400 million net worth are restaurants, fitness centers, movie theatres, and various other businesses. Even Shaq has had regrets over the course of making an estimated $700 million from investments, like the time he didn’t invest in Starbucks while Magic Johnson did.
He sets a great example to NBA players, current and old about wealth management, as Shaq has enjoyed greater financial success after his career ended as compared to what he has earned in the last decade.
