Why did the “Greek Freak” have money in 50 banks? — Timetables of Greek cities

0

Basketball superstar Giannis Antetokounmpo has more bank accounts than the letters of his name.

Marc Lasry, co-owner of the Milwaukee Bucks, said he was shocked to learn that Antetokounmpo would have his money in 50 different banks.

“I spend a lot of time with them explaining to them where they should invest,” he said of his players Thursday at the Bloomberg Wealth Summit in New York. “I’m thinking, Giannis, you can’t have accounts at 50 different banks.”

“Let me tell you something, if JPMorgan goes bankrupt, your crummy little banks are going to go bankrupt too. Let me explain what you should buy, you should buy US Treasuries, you should buy this.

What was the “Greek Freak” afraid of?

Bloomberg explains that obviously, the insecurity of Antetokounmpo, 27, is the consequence of the Greek crisis he experienced.

This crisis of the past decade, which has rocked the Greek banking system, has created concern among citizens that their money is not safe, Bloomberg noted, justifying Antetokounmpo’s reasoning.

In a wide-ranging discussion with Carlyle Group co-founder and co-chairman David Rubenstein, Lasry said that when he found out his $550 million offer for the Bucks was $100 million more than the next highest bid, he unsuccessfully attempted to bring his low.

He doesn’t buy basketball franchises anymore because they’re too expensive, but he did buy a pickleball team for less than a million dollars.

His New York-based firm, which has about $12 billion in assets, has increasingly moved into the private lending sector due to the lack of distressed debt in the market.

He expects to see more businesses run into problems in the next two to three years than in the previous few years.

“When people come to see me, they have problems,” he said. “They can’t borrow. Or they have assets but no cash.

Lasry, 62, said he was also worried about the US government’s ability to service its $30 trillion debt without deflating the value of the dollar.

“As rates go up, because of the debt we have, the cost of servicing that debt is so high that it’s going to become a problem,” he said.

Lasry, who doesn’t normally wear socks but chose to do so on a rainy day in New York, not only gives Bucks players financial advice, but also meets them on the basketball court.

He said he could win when they played “Horse”, but only if they played by “his rules”.

READ MORE: Kambosos Vs. Haney tickets are selling out fast for the June 5 fight in Melbourne.

Share.

Comments are closed.