Russell Westbrook led a savvy $63 million investment in digital banking platform ‘Varo’ by putting in millions of his own net worth

Russell Westbrook was part of an investment round for the digital banking platform ‘Varo’ last year that gathered $63 million. 

Russell Westbrook has spared no change when it comes to negotiating his contracts in the NBA. The 2017 regular season MVP currently has a player option that he can take up to sign back with the Los Angeles Lakers for the final year of his contract. Doing so would allot him a hefty $47 million in the 2022-23 season. 

Of course, with the way the Lakers have been portraying their offseason intentions so far, it doesn’t seem as though they will be putting Russ on the trade block. However, news has emerged that Lakers may be interested in pursuing Kyrie Irving if he were to become available.

Also read: “Russell Westbrook will not be moved if the Lakers need to add assets!” : Reports reveal why the Brodie will likely stay alongside LeBron James next season

Either way, Russell Westbrook would not have to worry about that from a financial aspect as he’s quite set on that front. While his NBA earnings are massive on their own with them coming to $335 million since 2008, his endorsements and investments are what are going to help out in the long run. 

Russell Westbrook led an investment round in the platform ‘Varo’. 

Digital banking platforms are something NBA players are becoming quite accustomed to when it comes to investing in them. Steph Curry invested in ‘Step’ last year and Kevin Durant invested in a financial literacy app called ‘Brigit’ a month prior to Russell Westbrook making his investment. 

While the details of his investment aren’t available for public knowledge, he did lead the investment round via his ‘Russell Westbrook Enterprises’ in the platform known as ‘Varo’ back in February of 2021. The total investment came out to $63 million by the time the corporate round had ended.

https://youtu.be/WPjtCfkCxrM

Westbrook is also a financial advisor to ‘Varo’ as he aids them in building stronger and healthier relations with minority groups. “I’m passionate about making lasting social change and creating a stronger and more inclusive system,” said Russ. 

It’s unclear if Westbrook has capitalized on this investment of his yet but it’s safe to say that he most certainly will in the future.

Also read: “I’d give up everybody on the Knicks for Russell Westbrook”: Stephen A. Smith believes LeBron James and Lakers are not the right fit for former MVP