Over $500 M Worth Shaquille O’Neal Credits Financial Advisor Behind Business Success

Shaquille O’Neal has credited his predecessors, especially Magic Johnson, for helping him create an empire. But it was never an easy journey, because Shaq came from a humble background. But everything changed for the 19-year-old since the Orlando Magic selected him as the first overall draft pick. So, he had to find people who understood finance better than him. And he seemingly found the right guy because they are still working together.

“So when I first get drafted and get a million dollars, I spend it now I said to myself ‘I need to get a financial advisor’. And I meet all these people and I meet a little Jewish dude and I said, ‘What do you do?’” To Shaquille O’Neal’s surprise, he did not expect that answer.

“He said, ‘I represent Eazy-E.’” Yes, the famous Compton rapper was also responsible for leading the group N.W.A. Even co-host Adam Lefkoe was shocked to hear this.

Even Shaquille O’Neal couldn’t believe what he heard. “I said what did you say? He said ‘I do business with NWA but I represent Eazy-E. Take care all Eazy-E.’ Sign with him and I’m still with him to this day.”

The financial advisor is Lester Knispel, who owns Boulevard Management. As the 4x NBA Champion stated, they still work together and have established a $500 million net worth for The Big Aristotle.

In fact, Knispel is also part of the Board of Directors of The Shaquille O’Neal Foundation. Alongside Jeanie Buss Owner & President of the Los Angeles Lakers, Dana White President, UFC, Vivek Ranadive Co-owner and Chairman of the Sacramento Kings, and others.

The Lakers legend shared that even his mother, Lucille O’Neal, chose Knispel despite other people pitching for the role.

Along with the financial advisor, the 4x NBA Champion had to learn a lot of things to manage his wealth better. However, the realization only came after earning one of the largest deals at the time.

Shaquille O’Neal had to study again to master the art of investment

His first contract with the Orlando Magic was worth $40 million. At that time, it was the most lucrative deal in the league’s history. So, signing a financial advisor was the need of the hour. Most importantly, there were certain things that he needed to understand himself.

“I was making so much money like they say invest, but invest in what? What is investing? What do you invest in? So you got to like study these things.”

The Lakers legend spoke to Roberto Mtz, a Mexican author, and content creator, two months ago. Shaquille O’Neal also added that it was important to study LLCs and Subchapter S corporations and how one can avail of tax breaks.

Because in his mind he was clear, “I didn’t understand it. I didn’t want to be broke when I was done playing.” With that goal in mind, Shaq learned the basics very well, and now they invite him to speak as an investor. Indeed, a collaboration of a lifetime that truly changed O’Neal’s financial fate.