Shaquille O’Neal, NBA Hall of Famer and business mogul, recently shared a financial secret that impacted his wealth: annuities. During an episode of “The Breakroom” podcast, which focuses on financial education and is sponsored by insurance company The General, Shaq explained how learning about annuities early in his career set him on a path to financial stability and growth. O’Neal is a brand ambassador and partner with The General.
O’Neal Talks Finances
Sitting with a group of four individuals, including financial experts, O’Neal recounted how a conversation with a wealthy, older friend introduced him to the concept.
“I used to see this rich guy, really rich, older, 80, old Rolls-Royce and all of that. And I asked him, I said how? And he taught me a word I never heard. ‘Shaq, you need to invest in annuities.’ And I never knew what it was, and I looked it up, ’cause I was, ’cause I was making so much money from commercials and all,” Shaq recalled. “I didn’t know what to do with it, and he said, ‘Yeah, all this money you’re making, if you put it away, you can invest it, and you can start collecting at 50, 60, and 70.’ So that was my greatest investment.”
Annuities, primarily used for retirement income, provide a solution for individuals worried about outliving their savings, according to Investopedia. They offer flexibility, with income streams that can begin immediately or at a future date.
Shaq’s business acumen extends far beyond annuities. As the second-largest shareholder in Authentic Brands Group (ABG), O’Neal recently stood to benefit from the company’s acquisition of Champion for $1.2 billion in June 2024. Champion, a global brand with nearly $3 billion in annual retail sales, adds to ABG’s portfolio, which includes Reebok and Ted Baker.
“I’m now the second-largest shareholder in Authentic Brands Group, and last year our purchase was Reebok and Ted Baker and a couple other brands. So, we’re doing pretty well. I just always wanted to have the opportunity to live forever like fame,” O’Neal told AfroTech in 2023, prior to the acquisition.
Shaq’s career earnings, reported at $286 million during his time in the NBA, have grown into an estimated net worth of $500 million as of 2025 through investments, brand partnerships, and business ventures such as his growing Big Chicken chain, which he founded along with JRS Hospitality and Authentic Brands Group.
