“Giannis, you can’t be having accounts open at 50 different banks”: Bucks co-owner broke down just how he explained the ABCs of investing to ‘Greek Freak’

Marc Lasry, a co-owner of the Milwaukee Bucks, once gave Giannis advice on how to handle his money and to not have it in several banks. 

The rise of Giannis Antetokounmpo from selling trinkets on the streets of Athens alongside his brothers to now being the reigning NBA Finals MVP has been well documented. Mirin Fader’s book from last summer really opened up a whole new perspective of what it was like for him to move from where he grew up to the United States. 

Getting used to living in the States after having lived the way he did in Greece was most definitely something that took time for Giannis. Everything from running to the arena in Milwaukee to be in time for a game to being fascinated by Oreos, getting acclimatized to being in the NBA was something he took time to do.

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The biggest difference between living in Greece and living in USA was undoubtedly the money. Antetokounmpo’s rookie contract had him making an average of $2.15 million a year from 2013 to 2016, a far cry from what he was accustomed to. 

Handling this type of cash was a tall order for an 18-year-old and so Bucks co-owner, Marc Lasry, stepped in. 

Giannis had to limit the number of banks he put money in. 

Having been a teenager at the time, Giannis Antetokounmpo didn’t have a solid enough grasp on how to handle his finances. Where should he invest? What banks should he keep his money in? How much should he save? Marc Lasry saw that their 15th overall pick needed help and proceeded to provide him with his aid. 

One thing Lasry noticed was that the ‘Greek Freak’ was dividing up his money into too many banks. He put an end to this with some sound financial advice he gave him.

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“I spend a lot of time with them explaining where they should invest. I’m like, ‘Giannis, you can’t be having accounts at 50 different backs. Let me tell you something. If JP Morgan goes under, your little dinky banks are going to go under too. Let me explain what you should buy. You should buy US Treasuries, you should buy this.’” 

With him making $228 million over the course of 5 years starting from the 2020 offseason, the reigning Finals MVP certainly needs to have the best financial advisers around him at all times.