GI Jane Finances

January 25, 2008

Oh my!

Filed under: Bling Bling — gijanefinances @ 12:09 pm

I usually do not do a double-take when looking at celebrity finances. CNN had a story on Britney Spears before her breakdown that she made about $700,000 monthly and spent $40,000 every month. The writer then lamented about her retirement and I was like, “give me a break.” Looking at the proportion between her income and expenses, it seemed pretty reasonable. Until I found this on http://www.ahotmessblog.com:

It has now surfaced that Shaq is spending up to $850,000 a month on his expenses. That is ridiculous and all but are we really all that surprised? I’m just mad at him being emotional over his wife being secretive of finances when he is spending $6,730 a month on dry cleaning! Outrageous!

The tall-head just sent a Miami-Dade court a never-seen-before affidavit for his and wife Shaunie’s divorce file. Records show O’Neal dragged his size 23 sneakers over the mandatory financial snapshot for months.

While the document says O’Neal makes an enormous amount of money, $1.8 million in monthly salary, publicity contracts and returns on investments, his routine expenses total $875,000 – A MONTH.

Among them: $156,116 in mortgages on three homes (including his $20 million mansion on Star Island, Miami Beach), plus $31,299 in homeowners insurance; $3,345 in phone bills; $1,610 in lawn and pool maintenance; $12,775 in food; $1,495 in cable TV; $24,300 in gas; $6,730 in dry cleaning; $17,220 in clothing; $2,305 for pets, and $110,505 in vacations.

Child care sets Shaq back $26,500 a month. He and Shaunie have four children, and Shaq had an extra one from a previous relationship. By the way, Shaq is paying $10,000-a-month in temporary child support and another 10 grand in alimony.

To his credit, the big-man-in-the-middle is doing his share in helping close the giant federal budget deficit. The 13-page document shows he pays nearly $6 million a year in federal income tax and nearly $2.5 million in taxes in states where the Heat play away games. Property taxes sets him back about $850,000.Source

A great discussion ensued, but the notable quotes came from:

Joe (12:44:18) :

*goes outside and practices jump shot*

Rebecca (17:08:12) :
grownANDsexy, I cosign what you say. That’s a very thin line between income and expenses. I’m gone put Shaq on that TVone show “Singletary Says”. He needs a budget ASAP. The cable bill is killing me especially. I used rabbit ears for about three years before I finally broke down and got some cable. I pay 160 a month and that’s with my telephone and high speed internet. Plus I get HBO, CINEMAX, SHOWTIME, STARZ and ENCORE. Shaq must be gettin satellite feeds from Jupiter.

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