It’s no secret that Shaq O’Neal is one of the wealthiest athletes in the world. According to estimates, Shaq’s net worth is around $400 million, making him one of the richest NBA (National Basketball Association) players.
Apart from his lucrative career as a basketball player, Shaq also has a slew of other business ventures. Some of these include owning restaurant franchises, launching his own apparel line, and being an ambassador for numerous brands. So, what are some of Shaq’s richest assets and how he got here? Let’s take a look!
Early Life of Shaq
Shaquille O’Neal was born on March 6, 1972, in Newark, NJ. He was already 6’6” by age 13 and a star basketball player at his school, Robert G. Cole High School in San Antonio, Texas. Although his first and middle names translate to ‘Little Warrior’ in Arabic, he grew up to become a 7’1” NBA player.
Even though he was born in the U.S., Shaq spent much of his childhood in Germany as his father was in the U.S. Army and was stationed there for a few years.
Shaq had been playing basketball since his early school days and dominated the game both in school and college. He was even named the College Basketball Player of the Year in 1991 while playing for the Louisiana State University Tigers.
And, of course, with such a successful early life, he needed to share the love with a children’s book, Little Shaq Takes a Chance.
What Income Sources Make Up Shaq’s Net Worth?
Shaquille O’Neal is one of the most successful athletes of all time. He has made a lot of money through endorsement deals, merchandising sales, and investments. Let’s see some of his main income streams.
Shaq began his career at Orlando Magic and played for 4 years there, earning a total of $17.4 million. After his contract ended at Orlando, he signed with the Lakers as a free agent for a 7-year contract of a whopping $121 million. It’s also the time when his famous quote originated where he denied going with the Lakers solely for money.
“I’m tired of hearing about money, money, money. I just want to play the game, drink Pepsi, and wear Reebok,” said Shaq.
Shaq extended his contract at the Lakers for one more year and ended up earning over $145 million in 8 years. Shaq then was traded to Miami Heat and earned a whopping $27.7 million during his first year, the highest-paid year of his career. Over the next two years at Miami Heat, Shaq made an additional $40 million.
At the end of his career, the last four years at the Suns and one year at the Cavaliers and Celtics, he earned a total of $62.4 million. So just from the NBA career, without counting any other earnings such as endorsements and merchandise sales, Shaq earned around $292 million.
Teams Shaq Played For
|Total Career Income
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Shaquille O’Neal is one of the world’s highest-paid athletes, and he made a lot of money from his endorsements. His deals usually lasted around 3 years, and he also received a salary during that time.
He took part in advertising campaigns and could also be seen in television commercials. Mostly, Shaquille O’Neal is known for his notable endorsements with Kraft Foods, Radio Shack, VitaminWater, Aventis’ Icy Hot pain-relief patch, and Comcast to name a few.
It is reported that Shaq earned more than $200 million from doing endorsements while he was playing as a professional NBA player.
Franchises and Other Investments
It’s no secret that Shaq is one of the world’s richest athletes, and how he makes his money is no news to anyone. Besides generating colossal wealth from playing the NBA and doing endorsements, he also invested in several different businesses and franchises. Certainly, this has helped him build a wealthy portfolio over the years, allowing him to live an extravagant lifestyle without relying on salary alone.
Some of his investments include purchasing stocks in Apple, Pepsi, and General Electrics. Shaq also serves on the board of directors for Papa John’s and owns 9 outlets in Atlanta.
Furthermore, Shaq owns 17 Auntie Anne’s franchises worth $6.5 million, 155 franchises of Five Guys Burgers worth $111 million, and one of Krispy Kreme worth $2.75 million.
Shaq sold his 31,000-square-foot property in Florida for $16.5 million in 2021. While it seems like a lot of money, he sold it for 40% less than the $28 million he asked for originally. He also had a home in California, which he sold for $1.85 in 2021 as well.
Some of his currently owned properties (as of 2022) include an Atlanta estate worth $1.15 million and an LA estate worth $2 million.
So, who’s one of the most entertaining, rich, and entrepreneurial athletes in history? Shaq, that’s who! The former basketball player and actor has an estimated net worth of $400 million, making him one of the wealthiest NBA players in the world. And Shaq’s net worth takes him far. He owns everything from an NBA championship ring to a luxurious estate in California.