Learning about the annuities put more money in Shaq’s account

is one other podcast featuring NBA Hall of Famer Shaquille O’Neal that discusses financial education. In a recent episode, he sat down at a table with 4 other people and said the one word that blessed him financially: “Annuities.”

In the five-minute recording, he explained to the group that he had never heard the word before until he talked to a wiser, wealthier friend. He said he had a variety of money and didn’t know what to do with it until he talked to an older, wealthy friend.

“I saw this rich guy, really rich, older, 80-year-old, old Rolls-Royce and all that. And I asked him, I said how? And he taught me a word I had never heard. “Shaq, you need to invest in annuities.” And I never knew what it was, so I looked it up because I used to be making a lot money from ads and stuff. I didn’t know what to do with it, and he said, “Yes, all this money that you make, if you save it, you can invest it and you can start collecting at 50, 60, and 70.” ‘It was my biggest investment,’ Shaq told the group at the table.

Shaq has proven time and time again that he has business acumen.

It has just been reported that the Champion clothing brand has a presence acquired by Authentic Brands Group for a reported $1.2 billion. Shaq is apparently the second-largest shareholder in Authentic Brands Group and stands to realize huge profits from it. The acquisition of the Champion brand, which generates nearly $3 billion in global retail sales annually, will definitely put more capital into Shaquille O’Neal’s bank account. Thanks to this and cooperation with other brands, Shaq made one other vital business move.

“I’m currently the second-largest shareholder in Authentic Brands Group, and last year we bought Reebok and Ted Baker and several other brands. So we are doing quite well.”