It's been done everyone, Shaq Fu A Legend Reborn has been fully funded on Kickstarter. I already know your first question: can't Shaq just fund this himself? Bid Deez Productions, the developers behind this game, answered this question on their Kickstarter page:
He is the best center ever to play the game. Of course he's got money, and yes he will be investing a lot of his own time and money in this project. We will be investing considerably more of our own money in the game than we are asking for.
The purpose of bringing the game to the public is to see how much interest there is in becoming Shaq’s partner and in seeing the game happen. In exchange for your help, Shaq, is offering unprecedented access to his life with incredible perks.
Just so everyone knows, this is not a fighting game like its predecessor. It's going to be a multiplayer 3D beat-em up game. The team describes it as "Streets of Rage meets Street Fighter meets Devil May Cry." According to some of the perks, there has been several Shaq fanatics who have invested much money into the game. One person donated $35,000 to this cause and his prize is having Shaq personally come over to DJ the donator's party. The PC copy will sell for $29.99 when it comes out. Shaq and Big Deez have promised to "not FU it up." Let's hope it'll be a success then.
Source: Shaq Fu Kickstarter