How Shaq spent $1 Million in one day

[Music] right before you get drafted uh you get a million dollars for an endorsement deal and i spend it in one day how'd you do it well you know when you're young you don't have a lot of business heavy there's two words you forget about fica and sales tax so i thought i was getting one million dollars straight up but you forget about those things so really i got about maybe like six hundred thousand so i go and i go buy a hundred and fifty thousand dollar car no negotiations i don't know nothing about negotiations guy could have told me two hundred thousand i would have bought it so i'll go and get a black mercedes because that's what so i always wanted black mercedes and some nice wheels guy was like 150 right to check when i come home my father's like that's nice where's mine i was like you know what you made me who i am jump in so we ride told the guy i want another one same one i got so they go 300 000 right there so we get home and my mom was like oh that's nice i don't want one that big i want a little because i know i got more money coming in so i'm just like i just want to take care of the stuff now so i go get my mom one there's 500 000 right there so now i got to get suits for the drive i got to get jewelry i got to get earrings you know i got to buy i got to buy the alpine pullout deck so when i go to the club i got it with me i got to get the alarm that calls the beeper and the phone so a couple days later i got a call from the bank who who was a family friend the manager of the bank and he called me and he said uh you know how to read bank statements i was like yeah i learned in school so as i was reading it i was 80 000 in the hole and i was looking i was real embarrassed he was like i know you got more money coming in i'm gonna just put this to the side for you then he touched my hand and said son i watch you play here at high school you're bright you're a smart young man i don't want you to be like all these other athletes like i heard like i always hear that term all my life i don't want you to be like all these other athletes so i said you know what i got to get a financial advisor so i met with with a whole bunch of guys and uh you know a lot of guys were coming in and i can remember old timer saying if it's too good to be true don't do it so a lot of guys came in yeah they say you're gonna get 40 million on your first contract you give me the 40 million i can turn it into 200 million by the time you're 23 i was like i don't like this guy another guy say the same thing and then i met one little small beautiful jewish man who says i'm in the savings bonds you know we're going to put your money and you know we're going to start a sub chapter s corporation from your family so you know all the stuff that you're doing you can write it off i was like you know what shalom barack hashem i'm going with you sir you know his name was less than this but i've been with him and you know he's like a father to me like every now and then you know i'll get cute like one time uh me and tyson was in the uh rolls-royce dealership and tyson bought three and i wasn't gonna buy three but i wasn't gonna let him out do me so i bought two six hundred thousand going down the drain hey i had it but lester called me like hey gotta stop this so uh he's been good to me you know it was right the uh right choice to make uh did you really i mean speaking of excess which you know i think when you were younger and playing in the nba you had probably a little more fun with that stuff do you really once have a fish tank in your mercedes speakers yes i do have your bodyguard replaced with the fish that died daily i did because you know we always just have competitions on the team or you could have the best car best looking car a loudest car so i was like let me get a clear box with some fish in it so we leave the house at 10 30. we buy two goldfish we put them in there we're jamming all the way to practice by the time we get to practice the fish are in the bowl again it didn't work it didn't work as as i would have liked it to for more clips from this interview visit [Music] grahambensinger.com

Channel: Graham Bensinger

Views: 6,612,956

Keywords: Shaq money, Shaq advice, Shaq salary, Shaq interview, Shaq endorsement, Shaq speech, Shaq draft, Shaq contract, Shaquille O'Neal, Shaq Orlando, Graham Bensinger, endorsement deal, Shaq Orlando Magic

Id: wMpZgt6agpU

Length: 4min 13sec (253 seconds)

Published: Fri Nov 20 2015