Shaquille O’Neal is a retired basketball player. He is also an entrepreneur and a TV host. His net worth is $350 million. Let’s delve into how Shaq’s net worth came about:
Shaq Net Worth: Basketball
Shaq’s basketball career was successful by many standards. He had 791 rebounds in 1989. This remains a state record to date. In 1996, Shaq was part of the basketball team that won an Olympic gold medal. He joined the LA Lakers after signing a 7 year deal worth $121 million. LA Lakers won the NBA championship in 2000. They won it for 2 more years in a row.
In 2004, Shaq signed a 5 year contract with the Miami Heat for $100 million. He won his 4th NBA championship with the side in 2006. In 2010, he joined Boston Celtics but his appearance was truncated by series of injuries, a year later in 2011 he officially retired from basketball. He had played for several teams including the Phoenix Suns, and Cleveland Cavaliers.
He is currently a commentator on the post-game TV show “Inside the NBA”. He made over $292 million in his basketball career and scored 28,596 points.
Shaq’s professional basketball career span 19 seasons. He has won numerous awards, ranging from an MVP (1999-2000), a Rookie of the Year, and 3 All-Star Game MVPs. His selections are also noteworthy: 14 All-NBA team selections, 15 All-Star game selections, and 3 NBA All-Defensive team selections. Shaq is among the 3 players who have won NBA MVPs, Finals MVP Awards, and All-Star game MVPs in the same year.
Shaq Net Worth: Other Sources
Shaq has endorsement deals with Icy Hot, Buick, Gold Bond, and Zales. He is the spokesperson for Dove Men. An astute businessman, Shaq sets up the Shaq Summit, a very strategic meeting, where his endorsement partners gather in his home to make 15-minute presentations. This way, he gets more endorsements. Shaq also targets his endorsements at the ‘regular people’ who do not make much money and of course can go for his lower priced line.
Shaq has been making more money since retirement- $20-25 million per year, thanks to his joint ownership pf several business ventures including 155 Five Guys Burger Restaurants, 150 car washes, a shopping center, several Las Vegas nightclubs, 17 Auntie Annie Pretzels Restaurants, 40 24-hour fitness centers, and a movie theater.
See Also: Allen Iverson’s Net Worth
Shaq was a pre-IPO investor in Google. He has stakes in Muscle Milk, Vitamin Water, and Tout, a social media start-up. Recently, he invested in The Original Soupman, a food truck brand.
Shaq has a real estate firm called the O’Neal Group. In partnership with MDM Development, he created Met Miami, a complex in Miami. It includes a Marriott hotel, offices, and a 24-hour fitness center.
In 2012, in partnership with Boraie Development, Goldman Sachs Urban Investment Group, and community investors, O’Neal Group purchased and renovated CityPlex 12 a movie theater in Newark. The CityPlex 12 now has digital protection, stadium seating, 12 new screens, and 3D capability.
Shaq himself has appeared in various films including, “Blue Chips”, “Steel”, “Kazamm” and “The Wash”.
Shaq Net Worth: Career beginnings
Shaq began to gain attention for his talent in basketball when he was in high school. He led the Robert G. Cole team to the state championship in his senior year. He became a two-time SEC player and a two-time All American when he was at the Louisiana State University. In 1991, he received the Adolph Rupp Trophy for being NCAA’s men basketball player of the year. The AP and UPI named him the college player of the year in 1991. He is a member of the Louisiana State University Hall of Fame.
He was the #1 pick for the Orlando Magic in 1992 and was crowned the rookie of the year in 1993. He was voted an All Star-starter, a feat that had not been achieved since Michael Jordan’s time. Shaq helped the Magic to make their way to their first ever play-off series in his second season. They made it to the finals the following year.
Shaq is also involved in law enforcement. He went through the Los Angeles County Sheriff’s Reserve Academy. He became a reserve officer with the LA Port Office and later a Miami Beach reserve officer.
Shaq’s turn around
Just like many young celebrities, Shaq would have ended up bankrupt, save for his banker who called him up and warned him about being spendthrift. This happened after Shaq had spent $1 million in 30 minutes. Shaq listened. Better still, he went back to the university to complete his degree. He had dropped out of Louisiana State University to play in the NBA. He went on and earned an MBA and Ed.D. He is now Dr. Shaquille O’Neal. According to the retired basketballer law school might be next.
Big Shaq seems to have it all. He is an astute businessman, has managed to make his basketball career remain relevant to date, and has pursued higher education. At this pace, he is en route the billionaire’s club.