Shaq is a Big Spender

[RockaFowler]

http://www.palmbeachpost.com/localnews/content/local_news/epaper/2008/01/25/a2a_josecol_0125.html

While the affidavit shows O'Neal makes a huge amount of money, $1.8 million in monthly salary, publicity contracts and returns on investments, his routine expenses total $875,015 - a month.

Among them: $156,116 in mortgages on three homes (including his $20 million mansion on Miami Beach's Star Island), plus $31,299 in homeowners insurance; $3,345 in phone bills; $1,610 in lawn and pool maintenance; $12,775 for food; $10,065 in electricity, $1,495 for cable TV; $5,000 in car payments (for three cars - he owns at least twice as many); $24,300 in gas; $6,730 in dry cleaning; $17,220 in clothing; $2,305 for pets and $110,505 for vacations.


I have no words

[hughee99]

1. How does one spend that much on cable TV and phone bills?

I understand how it's possible to spend a lot on clothes, mortgages, cars and even insurance, but how the F' does someone spend almost $1500 a month on cable? My cable bill, if I buy EVERYTHING they offer, and include my internet AND include my telephone would still be under $200 a month. Paying that for three houses would still only come to under $600 a month. At $5 per movie for the PPV, you'd have to order 180 extra movies to get your bill up that high, but how does anyone watch roughly 360 hours of movies in a month, especially since he seems to be spending at least $3,345 worth of his time on the phone.

[erpowers]

2. The Bad Thing

I figure he already has a great deal of money saved, but the bad thing to me seems to be how do you save money when you spend that much money a month. It seems to me that he should be trying to save as much money for his retirement and children as he can.

[hughee99]

3. If he's making 1.8 million per month and "only" pissing away 800K

It sounds like he is putting away a good amount. Hell, I wish my monthly expenses were less than 50% of what I took home.

[northzax]

4. 1.8 is his salary

not his takehome. You gotta figure there's an impressive tax bill on that, no?

[hughee99]

5. Ah, I was misunderstanding it...

I'd think he's probably cutting it pretty close then.

[erpowers]

7. $5 Million

He is paying a little more than $5 million a year in taxes. If you read the whole story it mentions taxes.

[northzax]

9. right, $5.4 million in federal taxes

$200K or so to other states and just under a million in property taxes. (florida, of course, has no state income tax) that's about right. So he's grossing about $22 million, paying just under seven total in taxes, he's got an actual takehome of about fifteen million, about $1.25m/month and he's spending roughly $900,000/month.

[rocktivity]

11. No wonder he's been insisting that he'll play the last two years on his contract.

Shaq recently said on a radio show, "I am the son of an army drill sergeant, and when we enlist, we go full term." So much for honor--if that's all he's been saving, he can't afford to voluntarily walk away from his contract.

:headbang:
rocknation

[northzax]

13. most likely

The man has made at least $150,000,000 in the past decade, and his wife estimates that he is worth about $30million? What the fuck happened to the other $70 million or so (after income tax?)

[cboy4]

6. Why didn't I continue playing basketball past high school?

:banghead:

$13,000 a month on food? :wtf:

Maybe that includes salary for a personal chef(s)?

[RUMMYisFROSTED]

8. Because you're not 7' 1" and 320 lbs?

:shrug:

[cboy4]

10. D'oh! Good point.....Not to mention I wasn't good enough

to play competitive college ball. :cry:

[Mojambo]

12. Nearly 13,000 a month for food!

Wow!