Shaq makes his kids write a business plan before he gives them any money. He believes 'respectable nepotism' will help them thrive.

• NBA legend Shaquille O'Neal has earned hundreds of millions of dollars throughout his career.
• He told Insider he uses "respectable nepotism" to help his 6 kids thrive in their careers.

Shaquille O'Neal — one of the greatest and most handsomely compensated basketball players of all time — earned a whopping $300 million during his illustrious NBA career.

Inspired by a technique he learned from Jeff Bezos, the four-time champion, 15-time All-Star, and eight-time All-NBA First Team selection made some shrewd investments that he says "probably quadrupled" his net worth. He's known to be incredibly generous with his money, but he's also careful.

And just because he's amassed generational wealth doesn't mean his money will automatically wind up in the hands of his six children.

"I'm not just gonna give you money for a party," Shaq told Insider, referring to his kids.

Instead, he adheres to a philosophy "called respectable nepotism," the 7-foot-1 Hall of Famer told Insider. If his children — who range from 17 to 27 years old — request money from their dad, he says they need to present a "business plan" and do their "due diligence" before he'll even consider giving them the funds.

"Since you want me to be the bank, I'm gonna do exactly what the bank is going to do to you," Shaq said.

Much like his Bezos investment ideology, his "respectable nepotism" theory has paid off in several instances. When his oldest son, Myles, expressed interest in starting a career as a DJ, Shaq saw considerable potential.

"I said, 'Alright, I'll help you get the equipment,'" the Los Angeles Lakers legend recalled. "And he's killing it."

In the years since, Myles has headlined shows across the United States, toured with some of the biggest stars of electronic music, and even held a residency at Wynn Las Vegas, according to his agency. His dad, who moonlights as a DJ himself, calls Myles "one of the top DJs in the world." And while that may not be the universal sentiment just yet, the budding star is well on his way to stardom.

"And he's done it by himself," Shaq said. "I'm proud of him."

Shaq's eldest daughter, Taahirah, has already graduated college and embarked on a career in corporate communications, according to People. His son, Shareef, spent several years playing college basketball at UCLA and his father's alma mater, LSU, before taking his talents to the NBA G League.

But Shaq's other three kids — Amirah, Shaqir, and Me'arah — are still in school and "haven't really pitched anything" just yet. He's hopeful that he can "bribe" his daughters to continue their schooling beyond bachelor's degrees.

"I'm like, 'If you go to law school and graduate, you get a big bag,'" Shaq told Insider with a chuckle. "Because out of my six, they're the smartest; they're the ones that are probably gonna run the company."

"So I'm trying to bribe all of them like, 'Hey, just go to law school for me and I'll give you whatever you want,'" he added.