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The Truth Unveiled! Shaquille O'Neal Shares His Story to Warn Anthony Davis about the Dangers of $186 Million Deal!
2024/04/02

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Shaquille O'Neal, the former NBA player and successful entrepreneur, knows a thing or two about the importance of financial literacy. Having built a net worth of $400 million, Shaq is no stranger to the ups and downs of managing wealth. Now, he's using his experience to educate other NBA players, particularly Anthony Davis, who recently signed a lucrative contract extension with the Los Angeles Lakers.

In a recent appearance on Rex Chapman's "Owned" podcast, Shaq offered some valuable advice to Davis.

Despite the excitement surrounding Davis' new contract, Shaq was quick to remind him about the financial realities that come with such a big payday. As Shaq himself learned the hard way, taxes can take a big chunk out of a paycheck.

Shaq shared his own experience of splurging his first paycheck and then receiving the residual amount after taxes. Coming from the Orlando Magic to the Lakers, Shaq was unaware of the differences in tax laws between states.

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Florida, where he was previously based, doesn't have a state income tax, unlike California. Consequently, when Shaq received his massive paycheck from the Lakers, it was significantly reduced due to taxes.

This cautionary tale serves as a valuable lesson for other athletes, including Davis. Shaq emphasized the importance of financial literacy and understanding concepts like athlete taxes, commonly known as the "jock tax.

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