- Giannis Antetokounmpo once kept his money in half a dozen bank accounts due to the FDIC limit.
- The NBA star’s ventures now include a sports drinks maker, two sports teams, and a sustainable ETF.
- Here are four of Antetokounmpo’s business bets in recent years.
When Giannis Antetokounmpo moved to the US at age 18, he opened accounts at half a dozen banks after learning that federal deposit insurance would only cover $250,000 of his money at a single bank.
The Milwaukee Bucks star and two-time NBA MVP has found better uses for his money over the past decade, partly by seeking advice from billionaire team owner Marc Lasry and other veteran investors. Here’s a look at four of his business ventures.
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1. Ready Nutrition
Antetokounmpo made his first brand investment in Ready Nutrition, a sports-drink company that competes against Coca-Cola’s Powerade and PepsiCo’s Gatorade, in May 2020.
The basketball player made a six-figure investment in the drinks maker, according to CNBC, and also agreed to personally promote its products.
“This is not just an endorsement deal; it’s something I believe in,” Antetokounmpo told Forbes.
2. Milwaukee Brewers
The “Greek Freak” bought into the Milwaukee Brewers, a Major League Baseball team, in May 2021.
“This is a dream come true for a kid from Sepolia, Athens, Greece, born from immigrant parents,” Antetokounmpo said during a press conference. “I could have never imagined I would be in this position.”
The power forward wanted to own a professional sports team, and was drawn to the Brewers partly because of his gratitude to Milwaukee for embracing him as a teenager and transforming his life, he said.
Moreover, he wanted to plan for life after the NBA. He was “in a position where I can think about things, think about the future and where I want to be in the future, and what I want to do,” he said.
3. Nashville SC
Along with his three brothers, Antetokounmpo invested in Nashville SC, a Major League Soccer club, earlier this year.
“My father was a professional soccer player, and it was the first sport I fell in love with in Greece,” Antetokounmpo said in a press release.
“I’ve always had the dream of owning a soccer team,” he continued. “When my brothers and I explored Nashville SC, we knew it was a team and a city that we wanted to get involved with.”
4. Calamos Antetokounmpo Global Sustainable Equities ETF
Antetokounmpo recently formed a 50-50 joint venture with Calamos Investments to launch an exchange-traded fund (ETF) that invests based on environmental, social, and governance (ESG) criteria.
The basketball star helped shape the strategy of the Calamos Antetokounmpo Global Sustainable Equities ETF, and will donate a portion of his profits to charity. He won’t be managing its portfolio or overseeing its day-to-day investments, the fund’s launch sheet says.
Antetokounmpo’s goal is to help people invest their money and improve their financial literacy, he told CBS this week.
“Unfortunately, growing up, I didn’t have anybody sit me down and teach me how to invest my money and guide me through my own journey,” he said.
“Now it’s the number one thing I’m going to teach my kids,” he continued. “I want my kids before they even get their first dollar to know how to make a dollar into two. Why just do it to my kids? How can I give people access to be able to invest?”