Staying humble is one of the challenges people face when success comes at an accelerated rate. It’s not uncommon to hear celebrity stories where they realized they weren’t grounded anymore, and had to discipline themselves into becoming humble.
This is one of the experiences that NBA Legend Shaquille O’Neal went through.
The NBA Legend earned millions, and this was a huge deal for him. Of course, young Shaq wasn’t as mature and wanted to feel good about his money. However, in the process of making big bucks, he lost his groundedness.
His mother was the one who showed him reality, and he knew what needed to be done.
“After mom and them left and I walked in my 90,000 sq ft house and ain’t nobody in there, that’s when it really hit. And then the queen, Lucille, said, ‘Ay man, I don’t know you no more, you need to humble yourself.’ When mama talks, a true man listens.”
Since then, he changed into a man who understood the value of money and the importance of being humble regardless of the success you achieve.
After signing his first contract, young O’Neal did not think of taxes and ended up splurging his entire paycheck. He received a mere million after his expenses and taxes. The athlete was extremely upset with himself but decided to turn his ignorance into a heap of financial responsibility knowledge.
One of the first things he did is hire an accountant, and since then, he’s been extremely responsible with his money.
As it’s known, O’Neal is an active investor. His accountant had him invest in car washes. These worked out in his favor and he saw immense success. Today he owns 40 car washes and over 150 restaurants.
However, one time his accountant couldn’t find $250,000 in profits and flew down to talk to Shaquille O’Neal personally about the missing money.
O’Neal came clean and revealed he had $250,000 in coins in wooden barrels. It took days for his accountant to sort it out and get it deposited into the bank.
The NBA Legend has set two conditions for his children if they want to access his wealth. First, they need a bachelor's degree and second, they need a master's/postgraduate degree.
His oldest daughter, Taahirah O’Neal, is halfway to accessing his wealth after getting her bachelor's degree!
