Shaquille O'Neal explains why he won't share $500,000,000 fortune with his children
Topics: US News, Basketball, NBA, Money, Parenting
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Featured Image Credit: Christopher Polk/Variety via Getty Images
Topics: US News, Basketball, NBA, Money, Parenting
Shaquille O'Neal has said his kids won't see a dime of his eye-watering fortune, and it's all for one particular reason.
The NBA legend has racked up a staggering net worth of approximately $500 million, and with that much money in the bank, it's no wonder he's able to treat himself to things like a $27 million private jet.
The 53-year-old is also the proud owner of nine Papa John's franchises in Atlanta, as well as being the former owner of 155 Five Guys restaurants.
However, while Shaq is apparently happy to splash the cash on himself, his sprawling brood of six aren't so lucky.
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The former LA Lakers player instead insists his children have to go their own way in life.
"My kids are older now. They kinda upset with me - not really upset –- but they don’t understand," Shaq said in an interview in 2021. "Because I tell them all the time. We ain’t rich. I’m rich."
However, rather than kicking them to the curb entirely, the basketball star said he'd support his kids with their future endeavours and businesses - providing they have a good enough pitch for him to consider investing in.
"You’ve got to have Bachelor’s or Master’s degrees and then if you want me to invest in one of your companies, you’re going to have to present it. Bring it to me, I’ll let you know. I’m not giving you nothing," he added.
Shaq shares four children with ex-wife, Shaunie Nelson - sons Shareef and Shaqir, and daughters Amirah and Me'arah, as well as a stepson, Myles, from Shaunie's previous relationship.
He also has a daughter, Taahirah, from a former girlfriend.
Expanding on what he wants for all six of his youngsters, he said he would like to see them become medics, entrepreneurs or just successful in their own right, revealing he follows the philosophy of 'respectable nepotism'.
"I would like a doctor, somebody to own a hedge fund, a pharmacist, a lawyer, someone that owns multiple businesses, someone to take over my business," Shaq continued.
"But I tell them I’m not going to hand it to you. You gotta earn it."
And it appears his offspring are doing exactly that.
Taahirah O'Neal, 28, revealed on Instagram just days ago that she earned a Credentials of Readiness (CORe) certification from Harvard Business School Online and Shaq's stepson, Myles O'Neal, 27, is doing well for himself in the fashion and music scenes.
Meanwhile, Shareef O'Neal, 25, is following in his dad's footsteps as a professional basketball player, signing with the NBA G League Ignite in 2022 and later Sacramento Kings and Stockton Kings.
Amirah O'Neal, 23, is also a college athlete, playing basketball for Texas Southern University, while her brother, Shaqir O'Neal, 22, is similarly playing for Florida A&M Rattlers - and Me'arah O'Neal, 18, plays for her father's rivals, Florida Gators.
Well, better put your hand in your pockets then, Shaq.