Shaquille O’Neal Net Worth

What Is Shaquille O’Neal’s Net Worth?

Shaquille O’Neal, popularly known as Shaq, was one of America’s best basketball players in history before retirement, with a net worth of about $400 million. He is also a real estate entrepreneur, product endorser, television host, and music artist, from which he accumulated his money.

Shaq’s basketball career lasted almost two decades, and he played for six different teams before retirement. His NBA career kicked in 1992 when playing for Orlando Magic. Over the years, he won the Rookie of the year award consecutively in 1992 and 1993. Shaq then joined Los Angeles Lakers in 1996 and led his new team to championship victory thrice in a row between 2000 and 2001.

Read on as we explore Shaq’s earnings, career, lifestyle, and key contributors to his success!

Earnings Overview

Shaq was a dedicated NBA player during his 19-year career. He played for different clubs, where his earnings increased over time to millions.

Shaq’s first salary when he joined Orlando Magic for the 1992-93 season was a whopping $3 million for that campaign. His annual income increased to $3.9 million the following season and kept on rising by 0.9 million every season for the rate of the time he played for Orlando Magic.

Shaq’s last season with Orlando Magic was 1995-96, which saw him take home $5.7 million. He then joined the Los Angeles Lakers for the 1996-97 season for a 7-year contract with a starting annual salary of $10.7 million.

He continued to impress his new team, leading them to multiple championship victories. As a result, his salary kept on rising. And by the time he was leaving the LA Lakers after the 2003-04 season, his salary was $24.75 million.

Shaq joined Miami Heat for the 2004-05 season for a three-year deal, earning about $27.7 million. He ended his career with Miami Heat after the 2006-07 season and earned $20 million. Shaq joined Phoenix Suns for the 2007-08 campaign for a salary of $20 million annually but was raised by $1 million the following season.

Shaq ended his career after the 2010-11 season, playing for Cleveland Cavaliers and earning only about $1.35 million that season. In total, Shaq earned about $292 million throughout his NBA career.

The following chart shows the breakdown of Shaq’s salary as a professional NBA player:

Shaq also earned about $200 million from endorsements during his career. And even after retirement, Shaq still earns about $60 million annually from endorsements and other businesses.

It is worth noting that Shaq ventured into real estate entrepreneurship, music, and acting. These are still the major contributors to his $400 million net worth.

At just 50 years old, Shaq’s net worth may continue to grow. He is in business and appears in several television shows. That means he can still accumulate more wealth.

Early Life

Shaq was born in Newark City, New Jersey, United States, on March 6, 1972, to parents Lucille O’Neal and Joe Toney.

The 50-year-old retired NBA player had a rough beginning being raised by his mother. His father struggled with drug addiction and was jailed when Shaq was still an infant on drug charges.

Shaq’s parents never married. His biological father denounced his parental rights to Shaq’s stepdad, Philip Harrison. Philip Harrison was a sergeant in the US Army and was soon deployed to camps in Germany and Texas. So, his family had to move with him.

Shaq was regularly going to the Boys and Girls Club in Newark. He considered it the safest place, but he did not play for any team. He, however, used the opportunity to shoot hoops before the family moved to Germany and Texas.

Career Highlights

Shaq’s career kicked off when he was in High School. During his senior year in school, Shaq led San Antonio’s Robert G. Cole High School team to a state championship victory.

He proceeded to join Louisiana State University, where his talent manifested to everyone in the country when Shaq became a two-time SEC player and a two-time All-American. He also received the Adolph Rupp’s Trophy for becoming the NCAA men’s basketball player of the year in 1991.

The end of 1991 ushered in a new era of success in Shaq’s career. He began his professional career when he joined Orlando Magic in 1992.

Just a year later, Shaq became the Rookie of the year and was voted an All-Star-Starter, a record achievement previously held by Michael Jordan. He inspired his team to greatness, leading them to the finals, though they lost to the Houston Rockets.

Shaq played for the Magic until the 1995 season, after which he became a free agent. Then in 1996, he helped the US Olympic basketball team to win medals. Soon after the Olympics, Shaq signed a 7-year deal with the Los Angeles Lakers, where he continued to show his class. He helped his new team win championships thrice in 2000, 2001, and 2003.

After his contract with the LA Lakers ended, Shaq played for Miami Heats, Phoenix Suns, and Cleveland Cavaliers, where he retired after the 2010-11 season.

Shaq had one of the best NBA careers and is considered one of the best basketball players in the country’s history. The following are some of his career highlights:

• NBA Champion (2000, 2001, 2002, 2006)
• NBA finals MVP (2000, 2001, 2002)
• 15 Time NBA All-Star
• NBA All-Rookie First Team (1993)
• Olympic Gold Medalist (1996)

Besides an incredible NBA career, Shaq tried his life with many other things, including acting, music, and entrepreneurship. He released four albums and starred in many films and television shows.

Shaq appeared in films such as “Blue Chips” and “Kazamm” and played many guest roles on television shows, including “Curb Your Enthusiasm” and “The Parkers.”

His first rap album, “Shaq Diesel,” came out in 1993 and became certified platinum. He also continued to be a DJ and music producer as Diesel.

Shaquille O’Neal’s Key Factors to Success

Shaq succeeded as a professional NBA player and has tried his hands on many things after his retirement. He remained dedicated to his career for a long time, which led to his success. Shaq became one of the best basketball players in the country.

However, his success as a professional NBA player could partly explain the wealth he accumulated. The rest come from his savings and entrepreneurial mindset. According to Shaq, save 75% of your paycheck and use the remaining 25% on whatever you want.

Fortunately, Shaq used his savings to invest in real estate and other industries. His success as an entrepreneur is based on teamwork. He has built a team that helps him filter business ideas and only pumps money into profitable ventures.

Personal Life

Shaq married Shaunie in 2002, and the couple was blessed with four children: Shareef, Amirah, Shaqir, and Me’arah. But Shaq also has a daughter named Tahirah from his previous relationship with Arnetta Yardbourgh.

However, Shaq’s marriage did not last long after their last child was born. He filed for divorce in 2007 but changed their mind to revert the decision.

In 2009, his wife filed an intent to divorce, citing irreconcilable differences. After the divorce, Shaq dated reality star Nicole Alexander between 2010 and 2012. He then got into another relationship with model Laticia Rolle, whom he has been dating since 2014.

Lifestyle

Shaq has been active in the stock market for the better part of his life. He has been involved in real estate since the 1990s, and is going even bigger. In 2019, it was announced that Shaq would join the Board of Directors of Papa Johns. He also invested about $840K of his earnings to buy 30% of a 9-unit franchise of Papa Johns in Atlanta.

Shaq paid $5 million for a 1% stake in the NBA’s Sacramento Kings in 2013. But in 2021, he sold it for $11 million to the team to allow him to become the primary endorser of WynnBET, an online gambling company.

Shaq lived in his 12-bedroom mansion in Orlando for many years. The home sits on a 35,000-square-foot property he bought in 1993 for $4 million.

It features a 6,000-square-foot indoor basketball court, a 10-foot privacy wall, and 17 car garage. Shaq listed his home for sale for the first time in 2018 with an asking price of $28 million. But he later accepted $16.5 million in January 2021.

Shaq also owns a 15-acre property in suburban Atlanta, which he bought in 2017 for $1.15 million. He also paid $1,8 million in 2018 for a home in a gated community in Los Angeles.

According to the business insider, Shaq invests in technology companies such as Apple and Ring. He is also an investor in Google and Loyal3, a San Francisco startup that helps people access IPO.

Shaq is an avid investor and entrepreneur, but many of these are out of the limelight. He has heavily invested in automotive, real estate, fitness, and restaurants.

Summary

Shaq is best summarized as one of the best basketball players in history. He had a very successful career playing for the best teams in the United States and helped them win championships. Shaq also received individual honors throughout his career. In total, he earned an estimated amount of $292,198,327.

Shaq did not stop working hard after his retirement. He tried his hand at many things, including business, after quitting the scene as an MBA player. Shaq invested in technology, restaurants, real estate, and other industries, which contributed to his net worth of $400 million.