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.

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