Despite his billion-dollar fortune, Shaquille O’Neal does not give money to his children: "We ain’t rich. I'm rich." I can relate to this mindset. My kids know this. When you come from nothing, you get it.
The former NBA player stated that his children need to work to make money.
"I tell them all the time. We ain’t rich. I'm rich," he said.
NBA legend Shaquille O'Neal dismissed any kind of financial help for his children during a recent interview on the financial podcast "Earn Your Leisure."
“My kids are older now. They’re kinda upset with me. Not really upset, but they don’t understand. I tell them all the time. We ain't rich. I'm rich.” O'Neal said while detailing his parenting philosophy on the podcast.
The former Lakers center, who played for six different NBA teams and earned over $10 million per season from 1999 to 2009, stated that he hoped his children would go to college and graduate, and that if they created a business he could realistically invest in, only then would he give them some money.
“You gotta have bachelor’s or master’s [degrees], and then if you want me to invest in one of your companies, you’re going to have to present it, boom boom boom, bring it to me. I’ll let you know, I’m not giving you nothing.” he said.
Later, the 52-year-old added that the number one rule he has for his children is "education."
"I don’t care if you play basketball. I don’t care about none of that," he said. "Listen, I have six kids.
I would like a doctor, someone who owns a hedge fund, a pharmacist, a lawyer, someone who owns multiple businesses, someone to take over my business. But I tell them I’m not giving this to you. You have to earn it."
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