Shaquille O'Neal is one of the most famous basketball players in the world – but did you know he squandered his first $1million in 20 minutes?
In the over 30 years since he first joined the NBA however, Shaq has become a financially savvy businessman who now has an incredible net worth of reportedly almost $500 million.
Shaquille O'Neal attends the Hey, This is Shaq Basketball Tournament in Warsaw, Poland, on August 28, 2024© NurPhoto via Getty Images
Shaquille O'Neal is worth around $500 million
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"All the stuff that Warren Buffett talks about? I'm in," Shaq once told Yahoo Finance of one of the world's richest men. "Trust me. I'm reading what he's doing every day."
Known as The Big Aristotle, Hobo Master, and The Diesel, Shaq, 53, played college basketball for the LSU Tigers, and was drafted by the Orlando Magic with the first overall pick in the 1992 NBA draft.
NBA salary
Orlando Magic' center Shaquille O'Neal jumps and shoots during a game against the Washington Bullets at Capital Center circa the 1990's© Focus on Sport via Getty Images
Orlando Magic' center Shaquille O'Neal jumps and shoots during a game against the Washington Bullets at Capital Center circa the 1990's
Over his four seasons with the Florida team his salary reached over $17 million but when contract negotiations stalled in 1996, he made the biggest decision of his life, and moved to the Los Angeles Lakers, where he signed a seven-year deal worth $120million, the biggest ever at the time.
The Lakers won three consecutive championships in 2000, 2001, and 2002 but amid a feud between Shaq and his teammate Kobe Bryant, Shaq was traded to the Miami Heat in 2004 when his contract ended, and he played with the team for three seasons under a $100 million deal, during which time they won the NBA Championship.
Shaquille O'Neal #34, Center for the Los Angeles Lakers prepares to shoot a free throw during the NBA Pacific Division basketball game against the Dallas Mavericks on 17th February 1999 at the Great Western Forum arena in Los Angeles, California, United States. The Lakers won the game 101 - 88.© Getty Images
Shaquille O'Neal #34, Center for the Los Angeles Lakers, in 1999
In 2007 he moved to the Phoenix Sun for a $40million two-year contract and finished his career at the Cleveland Cavaliers one season and then the Boston Celtics.
On June 1, 2011, he announced his retirement via social media after 19 years of playing basketball.
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Presenting
Shaquille O'Neal, Ernie Johnson, Kenny Smith, and Charles Barkley speak onstage during the 2017 NBA Awards Live© Kevin Mazur
Shaquille (L) with Ernie Johnson, Kenny Smith, and Charles Barkley onstage during the 2017 NBA Awards Live
The Big Aristotle serves as an analyst on the basketball show Inside the NBA for which he has reportedly signed a brand new $15 million a year deal with TNT.
The length of the contract remains unknown but Shaq joined the show in 2011; it will move to ESPN in 2026.
TV and film
In 1996 Shaq famously starred in Kazaam, a 1996 musical fantasy comedy film that followed the titular character, played by Shaq, a 5,000-year-old genie who appears from a magic boombox to grant a 14-year-old boy three wishes.
Shaquille O'Neal in the poster for Kazaam
Shaquille O'Neal in the poster for Kazaam
It was globally panned but has gone on to become a cult favorite.
Shaq is also one of only a few African-American actors to have portrayed a major comic book superhero in a motion picture, having starred as John Henry Irons, the protagonist in the 1997 film Steel.
He also appeared as himself on an episode of Curb Your Enthusiasm, in two episodes of My Wife and Kids, and The Parkers, as well as cameo roles in the films Jack and Jill and Scary Movie 4.
Shaquille O'Neal as Steel
Shaquille O'Neal as Steel
He voiced animated versions of himself in a 1997 episode of Johnny Bravo and in The Lego Movie (2014)
Music
As he began his NBA career Shaq also began his rap music career; he has released five studio albums and one compilation album.
His 1993 debut album, Shaq Diesel, received platinum certification and in 1995 he collaborated with Michael Jackson as a guest rapper on "2 Bad", a song from Jackson's 1995 album HIStory.
Shaquille O'Neal raps in a studio© Focus on Sport via Getty Images
Shaquille O'Neal raps in a studio
Shaq continues to DJ and tour the world under the pseudonym DJ Diesel.
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Brand deals
During the 90s Shaq had several brand deals including famously a $40 million deal with Reebok.
But he cut ties with the brand in 1998 after a mother told him that the brand's shoes were too expensive for her to buy for her sons, he told the Full Send podcast in 2021.
Shaquille O'Neal carries a little boy over his head on the set of the Pepsi "Shaq Playground" commercial in 1994© Getty Images
Shaquille carries a little boy on the set of the Pepsi "Shaq Playground" commercial in 1994
"That day, I cut ties with Reebok. I said keep the money… this ain’t right. I’ll still wear the shoes I do during the season, but I’ll be looking to do my own thing. So, I started the Shaq brand. I went to my favorite store, Walmart, and we did a deal," he said.
Shaq instead made a deal with Walmart for his own brand of shoes, which are still available for sale in Walmart. He has reportedly sold over 400 million shoes in the 25 years since.
In 2024 however Shaq returned to Reebok as he was named the president of basketball operations, alongside fellow former player Allen Iverson.
Shaquille O'Neal speaks during Pepsi Stronger Together and CTG Foundation Atlanta Law Enforcement Press Conference on April 07, 2021 in McDonough, Georgia.© Getty Images
Shaquille launched the Shaq-a-licious XL Gummies line with The Hershey Company
n 2024 he also launched the Shaq-a-licious XL Gummies line with The Hershey Company.
Ownership stakes
Over the years Shaq had had ownership stakes and partnerships with companies like Google, Muscle Milk, Apple, Pepsi, Vitaminwater, and Auntie Anne’s Pretzels.
At one point he has also had ownership of 155 Five Guys Burgers franchises, 40 24 Hour Fitness gyms, and a partnership with Las Vegas nightclubs.
Shaquille O'Neal Visits Krispy Kreme in 2018© Getty Images
Shaquille visits Krispy Kreme in 2018
In 2019, Shaq joined the board of directors for Papa John's and invested in nine franchises in Atlanta; the deal was worth a reported $8 million.
Shaq, 53, also owns a Krispy Kreme franchise in Atlanta and co-founded Big Chicken, a Louisiana-style fried chicken sandwich chain.
Ring cameras
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Shaq was an early investor in the Ring camera industry, after he purchased one at Best Buy and was so impressed he reached out to the company and invested.
Amazon purchased Ring for $1 billion in 2018, netting Shaq a serious investment return.
Property
TNT NBA analyst and Hall of Famer Shaquille O'Neal on the set of "Inside the NBA."© TNT
Hall of Famer Shaquille has multiple properties
Over the years Shaq has owned homes in Florida, Georgia, and California.
In 2022 he purchased a home in Texas; originally listed for $1.2 million it is unclear what the final selling price was but the mansion has five bedrooms and five-and-a-half bathrooms, with a gym, screening room, and three-car garage.
He has had three homes in the Atlanta suburb of McDonough, including one – purchased for $1.15 million in 2012 – that has 14 acres of land, a swimming pool and guest house, eight bedrooms, 10 bathrooms and a three-stall barn with a dressage workshop.
He has also invested in real estate in his home town of Newark, helping to develop CityPlex12 and One Riverview in the New Jersey city.