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“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’

Samir Mehdi
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“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.

Also read: “Giannis took 3 years to get as many 40+ point Playoffs games as Steph Curry?”: How Bucks MVP amassed an equal number of 40+ point games as Warriors no. 30

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.

Also read: “Jayson Tatum averages just 15 points against Giannis!”: StatMuse reveals Celtics star’s horrifying career stats vs Bucks as Boston falls 1-2 in series

“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.

About the author

Samir Mehdi

Samir Mehdi

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Samir Mehdi is a senior strategist for the NBA division at The Sportsrush. Ever since he was 13 years old, he’s been obsessed with the game of basketball. From watching Kobe Bryant’s highlights on YouTube to now, analyzing and breaking down every single game on League Pass, Samir’s passion for the game is unwavering. He's a complete basketball junkie who not only breaks down current games but also keenly watches ones from the 60s’ and 70s’ while also reading comprehensive books on the history of the league. Samir’s life revolves around basketball and he hopes that shows in his work. Aside from work, he loves to spend time in the gym and with his friends at social gatherings.

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