One of the most well-known figures in sports and business, Shaquille O’Neal, has talked about his spending patterns and the lessons he’s learned from them. On a recent podcast, Shaq revealed in passing that he owns as many as five houses and forty cars. Furthermore, he claims he doesn’t truly know why, saying, “I have 40 cars and I don’t know why. And I got five houses, I don’t know why.”
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Shaq’s advice was surprisingly straightforward and practical despite his enormous presence – save your money. “Just save. Don’t even touch it,” he advised when discussing what he’d do differently from a financial perspective. This advice comes from someone who has lived long but also learned the value of financial caution.
Shaq said that his numerous residences and collection of expensive vehicles don’t always make practical sense. Although he admitted that he could afford them, he claimed that it would have helped him to have been more frugal when he was younger.
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Besides, this isn’t the first time he said you should save more. In a recent interview with CNBC, Shaq said, “It’s not about how much you make; it’s about how much you keep.” He further explained, “Save 75% of your earnings and put it away. Use the other 25% as you please.”
One of the key lessons Shaq shared during the podcast was learning from losing. He was honest about how failure shaped his success, saying, “Before you succeed, you must first learn to fail.” Whenever he lost a game, he analyzed his mistakes and made sure not to repeat them. “Every time we lost, I said to myself, ‘Not going to do that again.’ Once I started winning,” Shaq said, “I knew what it took to keep winning.”
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Shaq’s personal experiences have shaped his financial outlook. Like some other NBA players, he earned hundreds of millions during his NBA career, but he wasn’t always financially savvy. When he was younger, he made a few major mistakes, such as spending $1 million within hours of signing his first big contract. But as time passed, he learned how important it was to be disciplined with his money.
