Sports stars are infamous for making extravagant purchases, and that's especially true for young pros, who often go overboard after receiving their first major pay day.
This was especially true of basketball legend Shaquille O’Neal, who blew his first big NBA pay check in under 24 hours.
While appearing on the online talk show Hot Ones, Shaq told host Sean Evans how he made $1 million disappear so quickly. The main problem was buying a new Mercedes Benz. Actually, he bought three of them.
“I pulled up to my dad’s house, and he’s like, ‘Where’s mine at?’” Shaq recalled. “So I go buy him one. My mom wanted one, so I got her the little one.” And the shopping spree didn't end there. Shaq also hit up the mall to buy a Rolex watch, jewelry, suits and other luxurious items.
The next day, the bank called to tell him he was $50,000 dollars in debt. At first, he didn’t think it was possible; after all, he hadn’t spent the full million, he thought. He was then informed that he hadn’t factored taxes into the equation. Oops.
He said that the financial wake-up call was a “great lesson,” and encouraged him to be more conscious of both his professional behavior and how he spent his money.
Shaq also revealed the biggest regret in his career and invented “Shaq sauce” in the episode. Check it out below.