Milwaukee Bucks power forward Giannis Antetokounmpo is one of the top ten-earning athletes in the NBA, and he needs to keep his massive fortune in banks in order to manage it.
Many sensible athletes have tried to save their fortunes through banks and other financial institutions. There was a popular rumor going around about Giannis having 50 different bank accounts in his name.
However, in a recent interview, he squashed such claims but talked about several accounts he opened at an earlier age in his career.
How many bank accounts does Giannis Antetokounmpo have?
The 28-year-old opened quite a lot of accounts in different banks when he first came to the USA from Greece. However, the number wasn’t 50 but rather more than any average person has.
Greece has seen one of the most disastrous financial downgrades in the 21st century, and the two-time MVP has experienced the aftermath growing up. That’s why he became extra cautious about his earnings and opened a handful of accounts.
“I had no money growing up, so I asked them, ‘Is my money safe?'” the Greek freak said in an interview with Bloomberg. But due to federal deposit insurance, banks can hold a maximum of $250,000 for an individual. So he went to seven or more banks to manage his wealth.
However, Bucks billionaire co-owner Marc Lasry has suggested an alternative, smarter, and more secure way to save money. “I’m like, ‘Giannis, you can’t be having accounts at 50 different banks,” Lasry said.
“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 Treasury bonds; you should buy this,'” the billionaire suggested.
Marc’s comment might incite speculation about Antetokounmpo having 50 accounts, but actually, he owns 12 accounts so far. although later he followed the way Buck’s owner recommended. “There are way smarter ways to do it; keep your money safe,” he said.
