'We ain’t rich. I’m rich’: Shaq’s kids need 2 degrees to touch his $500 million. His stepson had to pitch a plan for DJ gear

The rules are specific: two degrees to access the inheritance, plus a formal business pitch for any investment request. “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 Insider.

What ‘respectable nepotism’ looks like in practice

O’Neal calls his philosophy “respectable nepotism.” He will use his connections and resources to help his children succeed, but only when they’ve demonstrated a legitimate plan.

For example, when his son Myles told him he wanted to be a DJ, O’Neal made Myles pitch it first. Only after that did he say, “’Alright, I’ll help you get the equipment.’ And he’s killing it,” O’Neal observed.

The Independent reports he’s since performed at major events including a 2022 residency at the Wynn Las Vegas and a European tour with his father, who performs as DJ Diesel. “He’s done it by himself,” O’Neal said. “I’m proud of him.”

For his younger children still in school, O’Neal is deploying a different form of incentive: bribery. “I’m trying to bribe all of them like: ‘Hey, just go to law school for me, and I’ll give you whatever you want,” he told Insider.

His reasoning is clear, with one rule of getting an education: “I don’t care if you play basketball. I got six kids. I would like a doctor, somebody to own a hedge fund, a pharmacist, a lawyer, someone that owns multiple businesses, someone to take over my business. But I tell them I’m not going to hand it to you. You gotta earn it,” he explained to SportBible.

How Shaq’s approach is backed by data

O’Neal’s instincts align with what research consistently shows about inherited wealth: Without structure and preparation, it tends to disappear.