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Shaquille O'Neal credits "a fellow" he met at a bar for his financial success — “Thank you for that advice”

Lester Knispel, a renowned financial guru who has been helping famous big-spending celebrities handle their finances, gave Shaq the most important lesson in building wealth.
Los Angeles Lakers legend Shaquille O'Neal

Shaquille O'Neal

Becoming rich is one thing, and staying rich is quite another. However, NBA Hall of Famer Shaquille O’Neal was able to do both. And while some are quick to say the former Los Angeles Lakers superstar was just a wizard in growing his fortune through smart investments, the man himself admitted that, like any other rich person, he also took advice from successful people.

A fellow at a bar

Since calling it a career in 2011, O’Neal has invested his money in various business ventures and found tremendous success. He became one of the world’s richest NBA stars, and the media became very interested in how he works his magic.

In an interview with Yahoo Finance in 2019, Shaq was quizzed to reveal what would be his “money advice” to his younger self. According to “Diesel,” he wouldn’t change one bit from the same advice “a fellow” gave him at a bar back in the day, and that’s the importance of always saving.

[It] would be the same advice that a fellow gave me at a bar,” O’Neal said. “He had a piece of paper and said, ‘This is a hundred dollars,’ ripped it in half and said, ‘You save $50, you can play with the other $50. But the difference between rich and wealthy is, you rip the $50 in half, and with the $25, you can do whatever you want, but with that other $25, you save it’.

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As it turned out, that “fellow” was Lester Knispel, a renowned financial guru who has been helping famous big-spending celebrities handle their finances.

I actually didn’t touch my first check until I got married and started having children. So, Lester Knispel, thank you for that advice,” he continued.

Passing it on

Indeed, Knispel’s advice was ingrained in Shaq. In fact, the four-time NBA champion, now worth $400 million, is passing that lesson on to his children, famously telling them, “We ain’t rich, I’m rich.”

It wouldn’t be OK for me to use my personal success in such an irresponsible way,” Shaq explained. “I want to teach my kids morals, ethics, determination, passion, and all other qualities a parent wants their kid to have. I can’t give them the benefits that come from my “empire” and expect they’ll have the same intensity and ‘hunger’ I have. It doesn’t work like that.

With that kind of mentality, it wouldn’t be a shock if O’Neal doubles or even triple his net worth in no time. Kudos, big fella!

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