Shaquille O’Neal’s Net Worth Game Is Stronger Than Ever

Shaquille O’Neal is a dominant and marketable NBA all-star, businessman, and product endorser. However, his charisma extends beyond professional basketball, as demonstrated through his appearances in various TV shows and advertisements. His self-made wealth continues to grow, even well after his success as an athlete.

Currently, Shaquille O’Neal’s estimated net worth is around $400 million. Here, we will explore his journey, achievements, and setbacks through his inspiring life story up to 2023.

Shaquille O’Neal’s NBA Career

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During his career with the NBA, O’Neal worked hard and dedicated himself to the game. As a result, he built a reputation for being an incredibly valuable player, as evidenced by his immense net worth. According to Spotrac, O’Neal made an estimated $286 million as one of the richest and most skilled basketball players in the league. His most recent team was the Boston Celtics for one season, where he earned $2,751,688.

Before that, O’Neal played for the Miami Heat for four seasons, earning $101 million. He then signed and played with the Los Angeles Lakers for eight seasons, which gave him a total of $208,500,000. Finally, with the Orlando Magic, he played four seasons with a wealthy contract worth $17,400,000.

Biggest Deals of the NBA

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In 1992, the Orlando Magic selected O’Neal with the number one overall pick in the NBA Draft. Even as a young draft pick, he was considered one of the most dominant men in the league.

It was a groundbreaking moment when he signed with the Los Angeles Lakers. then General Manager Jerry West went to great lengths to bring O’Neal to the Golden State’s biggest city by dismantling the entire roster of his team and offering him a seven-year $120 million contract in the summer of 1996. As an NBA player, O’Neal earned an estimated $286 million.

Compared to Current NBA Player Contracts

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Such a guarantee was unheard of then, especially considering the back-loaded nature of the deal. He signed a contract for a three-year extension with the LA Lakers that was worth more than $88 million. Despite retiring more than a decade ago, O’Neal is ranked as the eighth highest paid player in NBA history, even with the recent explosion in contract values in professional sports.

Brand Endorsements

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O’Neal’s fame and popularity have made him a highly sought-after endorser and superstar for numerous brands. Like many sports legends who made their fortunes in the business world, he has lent his name to promote various products, from video games and fast food chains to car insurance firms.

Even after retiring from the NBA, the tycoon has amassed lucrative endorsement deals with various companies, including Reebok, PepsiCo, Icy Hot, NBA 2K, Taco Bell, Wheaties, and JCPenny.

Reebok Deal

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O’Neal has been appointed as the President of Basketball Operations for Reebok (fellow all-star Allen Iverson serves as Vice President). Recently, it was announced that O’Neal had signed his first significant NIL deal with Angel Reese, a player from the LSU Women’s basketball team.

Music

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In 1993, O’Neal signed a record deal and released his first album, Shaq Diesel. It went platinum, and Shaq Fu: Da Return went gold. He had a promising music career ahead, but his albums were not considered critical successes and did not contribute much to his fortune. 

Despite his unsuccessful rap career, he continued pursuing music and currently performs as a DJ at various events nationwide, including Lollapalooza in Chicago. He says he enjoys DJing as a hobby and will continue exploring the music scene as long as possible.

Acting Ventures

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O’Neal has not only appeared in films like Kazaam and Steel, but has performed in professional wrestling and is a notable presence in the NBA 2K video game series. He also appears on the TNT post-game series Inside the NBA. He reportedly earns $10 million annually from hi weekly appearance on the show.

Food Industry

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Over the years, O’Neal has shown a willingness to invest in businesses and real estate, especially in the food industry. He has also owned and sold 155 Five Guys restaurants, which is about 10% of all locations, and 17 Auntie Anne’s restaurants. 

Additionally, O’Neal owns 150 car washes, 40 health clubs, a movie theater in Newark, and the Big Chicken brand of chicken sandwiches. Several years ago, it was announced that O’Neal would join the board of directors of the pizza chain Papa John’s, which promised to invest in nine stores in the Atlanta area.

Investments

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The NBA star made his fortune by diversifying his profile and investing in the stock market with vivacity. In 2018, Amazon bought out his shares in the Ring doorbell company for $1 billion. O’Neal made early investments in Apple and Google, both of which have paid off in the decades since as both have become among the most valuable companies in the world.

In 2021, alongside other high-profile athletes and celebrities, O’Neal was a paid spokesperson for FTX, a cryptocurrency exchange. All of these ventures have gone far to increase the four-time NBA champion’s net worth. 

Charity

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Founded in 2019, the Shaquille O’Neal Foundation assists underserved communities by instilling hope and bringing about change. As a philanthropist, O’Neal supports many charities and events through endorsements and business ventures. The Boys and Girls Clubs of America and Communities in Schools are the two largest organizations the NBA star supports. 

As well as supporting charities like Be the Match and Rainbow PUSH Coalition, O’Neal has continued his philanthropy by giving his name and image to Free the Children and the Rainbow PUSH Coalition.

A Closer Look Into O’Neal’s Journey

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As one of the best NBA players, O’Neal’s ambition has opened doors to him in various industries, and he has made several investments. His emphasis on diversification highlights the importance of being open to learning about new and different areas in the business landscape and the fact that success need not be inherited. Like O’Neal, we can all continue on the growth path by taking calculated risks and pursuing our passions.

This article was originally produced and syndicated by Financially Well Off.

Author: Luana Cantuarias

Title: Contributing Writer

Expertise: Blockchain, B2B, and SaaS

Bio:

Luana Cantuarias is a seasoned finance writer with over a decade of experience in the realms of Blockchain, B2B, and SaaS.