THE John Antetokounmpo he had more accounts than the letters of his name!
The revelation was made by Mark Lasry, billionaire hedge fund manager and co-owner of the Milwaukee Bucks, speaking to David Rubinstein, co-founder and chairman of the Carlyle Group, at the Bloomberg Wealth Summit in New York.
Apparently in an attempt to protect his money, the two-time NBA MVP had opened accounts in 50 different banks and placed as much money in each account as the limit on deposits deposited by Federal Deposit Insurance Corp. in the US, in the event that a bank goes bankrupt.
As Lasri said, when he found out, he was shocked.
“I spend a lot of time with them, explaining to them where to invest,” explained the founder of the alternative investment company Avenue Capital Group, talking about his players. “I told him, Giannis, you can not have accounts in 50 different banks,” he continued. “Let me tell you something, if JP Morgan goes bankrupt, these little and cute banks of yours will go bankrupt too. “Let me explain to you what you have to buy, you have to buy American government bonds, you have to buy this.”
Bloomberg explains that apparently, the insecurity of 27-year-old Antikounbo, who is known in the US and around the world as “Greek Freak”, is a result of the Greek crisis that he lived through. This crisis of the last decade, which shook the Greek banking system, raised the concern of the citizens that their cash is not safe, notes the American network, to justify the reasoning of Antetokunbo.
When he does not give investment advice to his players, 62-year-old Lasri plays with them on the field. As he says, he can beat them when they play “HORSE” (this is a basketball game where when someone makes a shot and succeeds, the other players have to copy it), as long as they play by their own rules.
As for his views on the economy? Lasri worries about US ability to repay $ 30 trillion debt dollars without dropping the value of the dollar. “As interest rates rise because we have this debt, the cost of servicing it is so expensive that it will become an issue,” he says.
Money Review
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