Today, Shaquille O’Neal is arguably one of the most accomplished athletes of all time, thanks to his heroics on the basketball court and his various business ventures. Once upon a time, though, O’Neal was a young basketball player just learning how to handle fame and finances. A particularly funny story that illustrates the fiscal learning curve is the time that he spent $1 million in a day. Yes, you read that correctly. As for how the eventual hall of famer did that, well, you need to hear the way he discusses his first encounter with FICA.
Chances are that a lot of people have made their share of financial blunders, especially during their younger years. But I’m not quite certain many can say they’ve shelled out one million dollars in a single day. That may be why the eponymous host of The Dan Patrick Show asked Shaq about the time he spent all that time. As the four-time NBA champion explained in the YouTube clip, this all began with a massive windfall he received due to a business deal. He then explained what he proceeded to buy immediately after the check was cut:
So I received a million dollars from a car deal, and I always wanted a black on black Mercedes Benz. So I got the check, and I looked at the check -- well, actually, I didn't even look at the check. I just took it to the bank [and] signed the papers. I didn't even know that the check said 650 [thousand dollars] and all that. But we'll get back to that. So I go straight to the dealership. I have no negotiating skills. I was like, 'How much is this Benz?' Dude was like, 150,000.' So, in my mind, one million minus 150,000, I'm still rich. I still got 800,000 left.
The idea of scooping up a luxury vehicle after receiving a massive chunk of money is indeed tempting. And, as you can probably figure out, the young Orlando Magic player did shell out the money for that Benz. Generally, for every action, there is a reaction, though, and that proved to be the case when young shaq rolled up to his parents’ house with his new set of wheels. And, from there, the young man – still under the impression that he had plenty of cash – went on to splurge:
I get this Benz. I go home, I'm showing off to my dad, and my dad was like, 'Man, I wish I had one of these.' And I was like, 'You know what? Come on.' So we jump in my car, and I get the same exact Benz. So, now, 850 minus 150, now I got 700,00 left, right? I'm rich. So we come back, and then my mom, she says the same thing. So we get her the little Benz, 100,000. So now I got 600,000 left. So, now that I take care of that, now, I gotta go get the jewelry and the rings. I bought 20 draft suits. I rent this high-rise apartment on San Antonio [Avenue] for a year.
Overall, it sounds like the big man had a great time spending all of that money. Of course, eventually, financial matters do have to be settled, though. That time came when the future 15-time NBA All-Star received a call and was summoned by his bank manager. What ultimately ensued was an eye-opening conversation for the rising superstar:
And then, a couple of days later, the bank manager called me, and he pulled me in. He said, 'Uh, Mr. O'Neal, I don't want you to be like all these athletes, when they get money, they go broke.’ And I was like, ‘Yeah, yeah, yeah, yeah.’ So he showed me the bank statements, and I saw FICA. ... You know how there are some horror stories out there about agents, they steal money, and accountants steal money. Well, FICA had [taken] so much money that I looked at the bank [manager] and said, 'Who the hell is FICA?' He said, 'Mr. O'Neal, you need to educate yourself.’ And, after that, I was like, 'You know what? I need to slow down.' But that’s a true story.
So, after hearing all of that, there may be one question that you’re pondering: how is Shaquille O’Neal with money today? Well, it would seem that he has a much better handle on his financial portfolio today. Yet he is still known to shell out copious amounts of money whenever he sees fit. For example, while talking to Dan Patrick, O’Neal admitted to betting $10K on Mike Tyson amid his fight with Jake Paul. Ultimately, Tyson failed to defeat Paul in the ring, but that didn’t seem to worry O’Neal all that much.
I am serious when I say that Shaq has been quite shrewd when it comes to his business dealings. He’s invested in food franchises like Krispy Kreme, Five Guys and Auntie Anne’s as well as 24 Hour Fitness establishments and Google. In addition to various other enterprises, since 2011, he’s been one of the co-hosts of TNT’s recently saved show Inside the NBA.
Shaquille O’Neal is also a noted philanthropist and is known for his good gestures. Whether he’s paying a bill for an entire restaurant or buying shoes for a six-year-old, his generosity seems to know no bounds. He even donated money towards families impacted by the tragic supermarket shooting in Buffalo, New York in 2022. While his personality has remained the same in some regards, I’d say that Shaq has come a long way from being the kid who spent a million dollars in a single day.
