Shaquille O’Neal Shares His “Respectable Nepotism” Approach to Giving His Kids Money

NBA legend Shaquille O’Neal has a net worth of more than $400 million but this doesn’t mean he simply gives away money to his kids whenever they ask him for it. Instead, O’Neal uses what he calls a “respectable nepotism” approach.

In a recent chat with Insider, O’Neal revealed that his kids need to present him with a “business plan” before receiving money from him.

“Since you want me to be the bank, I’m gonna do exactly what the bank is going to do to you,” O’Neal told the media outlet.

For example, O’Neal’s 26-year-old son Myles once asked his dad to buy him DJ equipment as he was interested in becoming a career as a musician. Myles obviously presented a great business plan as he got the equipment and is now one of the rising stars of the EDM scene.

Besides Myles, O’Neal has five more kids: sons Shareef and Shaqir and daughters Amirah, Me’arah, and Taahirah.  Shareef is currently pursuing a career in NBA, while Taahirah is a successful communication specialist.

On the other hand, Shaqir, Amirah, and Me’arah are still in school, and O’Neal hopes he can encourage them to be successful in school.

“I’m like, ‘If you go to law school and graduate, you get a big bag,’” Shaq shared. “Because out of my six, they’re the smartest; they’re the ones that are probably gonna run the company.”

But while he has a tough approach with his kids, O’Neal is big on philanthropy. His Shaquille O’Neal Foundation aims to make life better for underserved communities, while he is also known for various acts of kindness and making donations to charities.