It's not easy being an accountant for Shaquille O'Neal, considering the NBA Legend loves to live a larger-than-ever life. However, it's even more frightening when $250,000 in profits go missing without a trace!
Shaquille O'Neal's Accountant Panicked After $250,000 Missing
Shaquille O'Neal Recalls How His Accountant Almost Had A Heart Attack
The NBA Legend's accountant, Liester Knispel, was very handy with the accounting books. He didn't let anything be unaccounted for, and when he couldn't trace $250,000, he panicked.
As anyone would, Knispel immediately called Shaquille O'Neal about the same, but O'Neal remained calm and unaffected.
However, Knispel couldn't reciprocate the same calmness and flew to Orlando to enquire about the missing profits.
“'Don't worry, Lester,' I told him, but he was freaking out about it. He even flew to Orlando to discuss it with me. He calculated we were missing almost a quarter million dollars."
Finally, Shaquille O'Neal came clean to him and showed him where the money was and why Shaq stored it in quarters!
“I showed Lester my bedroom, where there were a whole bunch of wooden rain barrels—full of quarters. Lester said, 'Shaquille, what the hell is this? Is this the missing money?' 'Yes,' I admitted. 'Lester, I can't help it. I like seeing my money. Come here, run your fingers through all these quarters. It's awesome!'"
Of course, Knispel couldn't let the money sit in wooden barrels and rang the bank to address the situation. It took a while to get all the quarters deposited into the bank account, but he got it done!
Shaquille O'Neal Credits Liester Knispel For His Financial Success Outside Court
It was Knispel who took over Shaquille O'Neal's finances and ensured he was investing them in the correct places and kept tabs on what was coming in and what was going out.
After hiring Liester Knispel, one of the first things O'Neal did was invest in coin-operated car washes.
From the time it started, it has been huge for Shaquille O'Neal.
DJ Diesel is one of the athletes who have made extremely smart decisions regarding their finances and branched out as an entrepreneur.
Young Shaq Was Quite Upset After Learning About Taxes
In 1996, O'Neal signed the biggest contract of that time with the Los Angeles Lakers for a $120 Million, 7-year contract.
He was making almost $20 Million a year but didn't quite know the tax laws of Florida and California. Thinking he would receive the entire sum, Shaq splurged almost all of his first year's salary.
In young Shaq's mind, he spent only $10 million; little did he know that was what his salary was because of the tax laws.
“So when I saw my cheque with 10.9 million and I had spent 9 million. Boy, was I upset with myself. I really was.”
Since then, he has become a legend in the business and has his finances well under control. No wonder his net worth is $400 Million!
Shaquille O'Neal Has A Condition For His Children To Access His Wealth
Considering he learned financial responsibilities the hard way, he's ensuring his children know what they're entitled to and what not.
As a result, O'Neal put down the rule that his children need to have a graduate and a master's degree before they can access his wealth!