Wednesday, September 20, 2006

The Rich Gets Richer...

Shaquille O'Neal is set to take on the Miami real estate market. The Miami Heat center and four-time NBA champion announced Tuesday the formation of The O'Neal Group, a real estate firm that's aligning with MDM Development in a $1 billion project to build 1,100 residential units in a sprawling downtown Miami complex. The project -- Met Miami -- will include an 866-foot building, touted as the tallest residential tower south of New York City. Plans also call for office buildings, a five-star Marriott hotel and a 24-Hour Fitness, which O'Neal is also partnered with.
"I'm trying to give people a better way of living," O'Neal said.
O'Neal began building a real estate portfolio 14 years ago, as a rookie with the Orlando Magic. That part of his portfolio alone is worth an estimated $50 million. Neither the development group nor O'Neal would divulge if the All-Star is an actual investor in the Met Miami project, which is being developed only a few blocks south of the Heat's waterfront arena. Both sides, though, said that O'Neal has "significant" financial interest in the project's success.
(From ESPN)
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That's what's up. Shaq is extremely smart in realizing that he shouldn't just rely on his basketball money. I know he's been in the league forever and he's rich enough (from the NBA) to never be broke...but hey, getting involved in other ventures won't hurt. That's how the dough keeps rolling in. I've never met Shaq, but he seems to have one of the best attitudes and personalities that I've seen of any athlete of our time. You can only wish the best for people like him. **Message to Shaq: if for any reason you stumble across this site, Will you please pay my student loans off for me? Thanks!** LOL.

3 comments:

SmilesD said...

I never liked Shaq as a Laker, but as a normal guy he's pretty cool. Very relaxed, and it's good to see at least one athlete has a clue on how to manage money. At least he knows an Escalade isn't an investment.

Loren said...

Big muthafuckin up to Shaq Deisel! A black person investing their money is so RARE these days! Go head Shaq AND Shaunie!

Anonymous said...

Shaq is hella smart. The point of being rich is to make sure that generations after you are never poor. He's making that happen. Great-Grandchildren far after him will be rich b/c of "Grandaddy Shaq."