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Many of us recognize Shaquille O'Neal as one of the best basketball players of his generation and star of the movie Kazaam. But O'Neal is also a very successful businessman who has acquired a gigantic net worth. However, he has not always been smart with his money.

O'Neal had to learn how to handle the enormous wealth he had been given when he started playing for the NBA. If he had not learned these lessons, he could have spent all his salary and nothing else to retire.

O'Neal has some important tips on money management that can even help you.

Shaq has already spent $ 1 million in one hour

O'Neal took the time to learn how to manage his money well. After signing his first basketball contract at the age of 20, he spent over a million dollars in one hour.

When he had the money, O'Neal wanted to ruin the people he loved the most. He bought a new $ 150,000 Mercedes-Benz from his father and another for him. But O'Neal did not forget his mother. He bought a car and paid for her house.

At that time of his life, money always seemed to be there. But if it is not managed properly, you can spend a lot of money and you have nothing left.

Today, his way of dealing with money has completely changed. In fact, he spends only 25% of his income. But as his income is so high, he still leaves room for cars, jewellery and almost anything he wants.

How does Shaq manage his money today?

As O'Neal explained to the Wall Street Journal, he met a man who gave him incredible advice. It was financial advice that would change the way he saw wealth and manage his money.

"I met a gentleman once. He had a piece of paper and said, "It's $ 100." "The man broke the newspaper in half and then told O'Neal," Smart people are investing that $ 50, and then they have $ 50 left. They got it. Then I started doing that, "O'Neal said.

It was a tip that O'Neal really took seriously. He quickly started saving or investing 75% of his income and living on the remaining 25%. He has made all kinds of investments during his career. O'Neal was one of the first investors in Google and Apple, an action that has already made millions. Earlier this year, he joined the board of Papa John's Pizza, of which he holds a large part.

How much is Shaq worth?

O'Neal's many years of investment were well worth it. Today, he is not only a basketball star but a successful businessman. It has a net worth of $ 400 million. Although he retired from basketball and the NBA, O'Neal still earns about $ 60 million a year in sponsorship deals, but much of his money comes from all his many investments.

When asked if he had any advice for young people to invest in money, O'Neal offered this little wisdom: "I would say that this money will not last forever. You have to invest and you have to be smart. 

Wise words from someone who has done a great job managing your money. The way O'Neal manages his finances means he will probably never be able to go back to work and continue to live a luxurious lifestyle for the rest of his life. Now it is a laudable goal.

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