Shaquille O’Neal is known for his dominance on the basketball court, his larger-than-life personality and his knack for making headlines. But early in his career, Shaq was making waves for a different reason – his ability to blow through cash at an alarming rate. Shaq once spent $1 million in just 30 minutes, which led to a much-needed wake-up call from his bank manager.
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Shaq had just signed a deal with a trading card company and received a check for $1 million. So, naturally, he did what any young star would do – he treated himself to something flashy. The story was detailed in a 2023 Sportskeeda article:
“I spent a million dollars in 30 minutes. I get a check for a million dollars from my trading card company. Always wanted a black-on-black Mercedes-Benz. So, I go get it. $150 [thousand] minus a million, I still got $850 [thousand] left, I’m still good. I get home, my father said, ‘That’s nice. Where’s mine at?’ Me and him we get in the car, go get the exact same car for him. We get home, my mom’s a little jealous. So, we got three Benzes.”
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Sounds like a dream, right? But Shaq wasn’t done yet. He bought jewelry, custom-made suits and more. In just 30 minutes, his million dollars had all but disappeared. And that’s when reality set in.
The next day, Shaq received a call from his bank manager that would change his entire outlook on money. As Shaq recalled, the manager said:
“Shaq, you know, when they’re done playing, it’s a large percentage that have nothing. I’ve been following your career, you’re a bright young star. I don’t want you to be like that. You need to learn how to take care and manage your money.”
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That was when Shaq realized he wasn’t as “good” as he thought. Sure, he’d just spent a million dollars, but there wasn’t much left after taxes, agent fees and everything else. He was already in the red.
