NBA Superstar Giannis Antetokounmpo Put His Money In 50 Banks Until His Team Owner Taught Him Investing.
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Milwaukee Bucks champion Giannis Antetokounmpo, 27, is extremely careful about preserving his hard-earned coins and has accounts at 50 different banks containing $250,000, revealed his team’s co-owner Marc Lasry to Bloomberg News.
The two-time NBA MVP is utilizing the total standard deposit insurance coverage limit of $250,000 at each Federal Deposit Insurance Corp, or the FDIC-insured bank, according to the New York Post.
Hedge fund manager and billionaire Lasry, who is the founder of Avenue Capital Group, a private equity firm, advised Antetokounmpo and his teammates on better investment practices, the New York Post reports.
“I spend a lot of time with them explaining where they should invest,” Lasry said at the Bloomberg Wealth Summit in New York, according to Bloomberg News.
“I’m like, ‘Giannis, you can’t be having accounts at 50 different banks. Let me tell you something, if JPMorgan goes under, your little dinky banks are going to go under too. Let me explain what you should buy, you should buy U.S. Treasuries, you should buy this’.”
Antetokounmpo has accrued a sizeable fortune of $146,344,879 from playing basketball and cleared $47 million from endorsements in 2021
