Millionaire Shaquille O’Neal Once Unknowingly Made Tax Blunder That Led to Massive $500,000 Loss

Published 06/24/2022, 7:30 PM EDT

Shaquille O’Neal’s time in the NBA is nothing less than legendary. He won four NBA titles with the Los Angeles Lakers and the Miami Heat along with numerous individual accolades.

Moreover, he has tasted success in the world of business as well. Shaq has a massive net worth that is a result of making some smart investing and business decisions. However, he made a huge blunder that cost him hundreds of thousands of dollars.

Article continues below this ad

Talking in an interview, Shaq gave his insights regarding the world of business and sports entertainment. He stressed the importance of knowing about your taxes and paying them on time. Interestingly enough, he talked about how a blunder cost him around $500,000.

LeBron James’ $85 Million Contract Was An Excuse To Spend An Absurd Amount On A Car With Only 918 Units

Shaq said, “One time I got a million dollars cheque and I thought it was million dollars but I only got around $500,000 because FICA. But guess how much I spent? A million dollars, which means I was $500,000 in the hole.”

How much did Shaquille O’Neal earn in the league?

Shaquille O’Neal was a star ever since he got drafted by the Orlando Magic in 1992. The 7-foot-1 inch center had already made a name for himself playing for the LSU Tigers and it was time for him to do the same in the NBA.

During his rookie season, he averaged 23.4 points, 1.9 assists, and 13.9 rebounds. These numbers earned him the Rookie of the Year award.

Article continues below this ad

He played for a number of teams in the NBA. However, he left his mark on the Magic, the Los Angeles Lakers, and the Miami Heat. In 20 seasons in the NBA, Shaq earned almost $300 million in salaries alone. Moreover, he earned an estimated $200 million in endorsements.

Thanks to his success on the basketball court and his business ventures outside of it, Shaq has a huge net worth. O’Neal has a net worth of around $400 million, according to Celebrity Net Worth.

Article continues below this ad

WATCH THIS STORY: How Old was LeBron James In His First NBA Finals?

What is your favorite memory of Shaquille O’Neal? Let us know in the comments down below.

SHARE THIS ARTICLE :

Written by:

Abhinava is an NBA writer for EssentiallySports. He is currently pursuing his Bachelor's in Journalism and Mass Communication. Abhinava has been following NBA for the past 6 years and is a huge fan of the Golden State Warriors and Stephen Curry.

Edited by:

Veer Badani

Millionaire Shaquille O’Neal Once Unknowingly Made Tax Blunder That Led to Massive $500,000 Loss

How much did Shaquille O’Neal earn in the league?

Trending

“Biggest Fumble”: Kelsey Plum Flaunting Body in Kim Kardashian’s Skims Has Fans Questioning Ex-Hubby Darren Waller’s Divorce Decision

NBA Trade Rumors: Kevin Durant & Warriors Deemed Each Other’s ‘Only Hope’ By Bay Area Veteran

“Rest in Peace”: Isiah Thomas Mourns Devastating Demise of 6x Grammy Awardee After Long Cancer Battle

Shaquille O’Neal and Charles Barkley’s Absence From “Inside the NBA” Is Due to TNT’s Uncertain Future, as Per Reports

Mother of 5, Dwyane Wade’s Wife Gabrielle Admits Changing Herself Due to 3 Things