August 21, 2023
Shaq Requires ‘Business Plan’ Before Giving His Children Money
NBA Hall-of-Famer and one of the greatest basketball players of all time, Shaquille O’Neal, is talking money and business with his children these days.
The 7-foot-1 basketball star earned a generous $300 million throughout his NBA career, and according to Insider, O’Neal says he has “probably quadrupled” his net worth after adopting an investment technique from Jeff Bezos.
Although O’Neal is known for his generosity, he is cautious with his spending, even when it comes to his children. “I’m not just gonna give you money for a party,” O’Neal said.
The 15-time All-Star has made significant earnings from his career, but as a father, he does not believe in simply giving money to his kids just because they ask for it. O’Neal closely abides by an ideology called “respectable nepotism.” Before agreeing to fund his children’s request for money, he requires them to deliver a business plan.
“Since you want me to be the bank, I’m gonna do exactly what the bank is going to do to you,” O’Neal said.
He has scored major points with his “respectable nepotism” philosophy. His son Myles showed interest in becoming a DJ, following in O’Neal’s footsteps, also known as DJ Diesel on Instagram. Myles has toured with some of the biggest names in electronic music and held a residency at Wynn Las Vegas. Myles has also had the opportunity to headline at various shows across the U.S. O’Neal calls his son “one of the top DJs in the world.”
“And he’s done it by himself,” O’Neal said.
According to People, Taahirah, who is O’Neal’s oldest daughter, has graduated and is pursuing a corporate communications career. His son, Shareef, played basketball at UCLA — his father’s alma mater — before advancing to the NBA G league.
Insider reported that his other three kids remain in school and have not pitched any career ideas to their father yet. The NBA legend hopes he can “bribe” his daughter to pursue a graduate-level degree. “I’m like, ‘If you go to law school and graduate, you get a big bag,’” O’Neal said to the outlet. “So I’m trying to bribe all of them…”
O’Neal said he believes his three children that are still in school, are “the smartest” and will run the company.