When Shaquille O'Neal's net worth shot up after advice from Magic Johnson

Shaquille O'Neal's net worth has drastically increased thanks to Magic Johnson. The big man won his first NBA championship and MVP award in his eighth season in the league, which is when the Los Angeles Lakers legend approached him.

If it wasn't for Magic, Shaq probably wouldn't have been as successful as he is today. He offered a valuable piece of advice to the then-young superstar, which ended up changing his entire life.

This article will reveal Magic Johnson's advice which enhanced Shaquille O'Neal's net worth. We will also take a deeper look at the most successful former NBA players who have built business empires since their retirement.

---

Shaquille O'Neal's high net worth is all thanks to Magic Johnson

In the 1999-2000 season, Shaquille O'Neal was at the peak of his basketball career. After leading the league in scoring with 30.7 points per game and finishing second in rebounds and blocks, Shaq won his first MVP award.

Shortly after, the 7-foot-1 center led the Lakers to their first NBA title in the last 12 years. Before him, it was Magic Johnson who won it all with the Lakers in the 1987-88 season.

Before Shaquille O'Neal, Magic Johnson led the Lakers to an NBA title (Image via Getty Images)

At this point, Shaq had already made more than $50 million from his NBA contracts alone. However, Magic Johnson offered him a piece of advice that would make him a much richer man.

You may be interested in reading: How does Shaquille O'Neal's net worth compare with his 'Inside the NBA' colleagues

Here's what O'Neal wrote in "Shaq Uncut: My Story," his autobiographical book:

“I had just won MVP, and he said to me, 'Big fella, you don’t want to be just a name. You want to own things,'" O'Neal revealed.

At first, Shaq wasn't exactly sure what Magic was talking about. However, he quickly realized what he meant, and this advice ended up changing his entire life.

"We got to work on my own shoe. Then my own clothing line. Then my own reality show. Thanks, Magic," Shaq added.

Thanks to the 6-foot-9 point guard, Shaquille O'Neal's net worth is estimated at $400 million in 2022. Magic has also done a great job with his business empire and is valued at $620 million.

---

Former NBA players who are millionaires

Shaquille O'Neal and Magic Johnson are among the most successful businessmen who have played in the NBA. Only a couple of other players are more successful.

You may be interested in reading: Shaquille O’Neal, Magic Johnson and more: 10 stars who remained millionaires after retiring from the NBA

Michael Jordan is valued at more than $2 billion (Image via Getty Images)

Michael Jordan's net worth is estimated at more than $2 billion in 2022, while LeBron James recently joined the billionaires' club as well.

Junior Bridgeman, who is not as popular as the other players on the list, is worth $600 million owing to his investments in popular restaurant chains. Vinnie Johnson is another player who has expanded his business. His net worth is estimated at $400 million at the moment.