Shaquille O’Neal says his children need two degrees to access his $400 million fortune

Shaquille O'Neal has told his children they need to earn two university degrees if they want access to his mammoth inheritance.

The NBA legend has six children and enforced strict rules on how they can get a slice of his wealth.

Per Celebrity Net Worth, Shaq's net worth sits at a staggering $400 million and he earns $60 million-per-year thanks to a number of lucrative endorsements.

"In order to get my cheese, you have to present me with two degrees," the 50-year-old explained to Channel 7’s Sunrise in a recent interview.

The former LA Lakers centre made $292 million in a 19-year career, which saw him win four NBA championships and finals MVP in 2000, 2001 and 2002.

He continued: "I just keep them motivated, I'm teaching about generational wealth right now. I tell them all the time we don't need another NBA player in the house.

"If you want to play, I can help you get there; but I would rather see a doctor, dentist, hedge fund guy, a veterinarian, or a world traveller."

O'Neal's oldest son, Shareef, has an NBA career in his sights and played with the Lakers for the 2022 NBA Summer League.

He's currently undrafted but expected to make a big splash in the next few years.

Shaq's appearance on the Earn Your Leisure podcast last year started all this money chatter and he broke down why he's rich, but his children aren't.

He said: "My kids are older now. They kinda upset with me - not really upset - but they don't understand.

"Because I tell them all the time. We ain't rich. I'm rich.

"You've got to have Bachelor's or Master's [degrees] and then if you want me to invest in one of your companies, you're going to have to present it... bring it to me, I'll let you know. I'm not giving you nothing."

He went on to add: "There's one rule: education. I don't care if you play basketball. I don't care about none of that.

"Listen, 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."

A mature and honest way of looking at things.

O'Neal dabbles in the odd public appearance and is an analysis on TNT, but denounced his celebrity status last September.