Shaquille O’Neil recently joined the podcast “Earn Your Leisure” where he explained how his 400 million dollar net worth would be shared amongst his six kids. How you might ask? The iconic and legendary Lakers’ center expects that his children have a bachelor’s or master’s degree before even thinking about asking for some of that chunk of change.
“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, “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.”
“I don’t care if you play basketball. I don’t care about none of that,” he said. “Listen, I got six kids. I would like a doctor, somebody to own a hedge fund, a pharmacist, a lawyer, someone that owns multiple businesses, someone to take over my business. But I tell them I’m not going to hand it to you. You gotta earn it.”
O’Neil’s decision makes him join an already growing group of celebrities who have vowed off giving their children any gross amount of inheritance without working for it. Earlier this year, Daniel Craig made headlines when he said that the idea of inheritance is “distasteful.”
”I don’t want to leave great sums to the next generation. I think inheritance is quite distasteful. My philosophy is get rid of it or give it away before you go,” Craig said.
O’Neil’s philosophy has been long carried with him. In 2018 he did an interview with Good Morning America where he dropped an iconic rhyme scheme to explain his view. “My motto is ‘you have to get three degrees to touch some of my cheese,’” the former Lakers’ star said.