On Friday NBA hall-of-famer Shaquille O’Neal stopped by the “Halftime Report” desk on the floor of the New York Stock Exchange to discuss business and the future of the NBA.
The 15-time All-Star player was at the NYSE to promote the return of Krispy Kreme's chocolate glazed doughnut.
When asked about the current state of the NBA, O’Neal brought up LeBron James and his recent $154 million move to the Los Angeles Lakers.
“He’s a very marketable guy,” he argued. “L.A. is movies, commercials, production companies. However, you must win at some point...I think in order for him to be considered a great Laker, he definitely has to win a championship.”
Shaq also had some crucial advice for players who are just starting out.
“Money is not going to last forever. You’ve got save it, invest it and you’ve got to be smart,” he said.
“My first check I blew in like 20 minutes...I knew I was young, I knew I had more money coming in, but the second and the check after that, I was like ‘I got to start saving.’”
More than 25 years later, Shaq continues to invest and save his money in companies like Google and Ring. He cites his father, a former drill sergeant, as the inspiration for his business strategies.
“A lot of athletes, when they’re done playing, they have no income and they go broke. I never wanted to be like that,” he told the traders. “Even when I was making a lot of money playing basketball, I’d come home see my father and he’d be like, ‘what are you doing with your money?’”