NBA star Giannis Antetokounmpo spread his money across half a dozen bank accounts as a rookie because of the FDIC's $250,000 limit. Billionaire team owner Marc Lasry told him to invest instead.

When Giannis Antetokounmpo first arrived in the US at age 18, he opened accounts at 'five, six, seven' different banks to keep his money safe.

Silicon Valley Bank's implosion has spotlighted the federal deposit insurance limit of $250,000.Billionaire investor Marc Lasry told the player to invest in US Treasuries and other assets instead.of Silicon Valley Bank has shone a spotlight on federal deposit insurance, which only extends to $250,000 of a customer's money at a single bank. When Giannis Antetokounmpo first learned of the limit, he opened half a dozen bank accounts to protect his fortune.

on Friday. "I had no money growing up, so I asked them, 'Is my money safe?'" he recalled. After finding out about the $250,000 cap, Antetokounmpo promptly opened accounts at "five, six, seven" banks.his reaction to learning of Antetokounmpo's numerous bank accounts at the Bloomberg Wealth Summit last year.

Lasry, a distressed-debt investor, noted that Antetokounmpo's concerns about safeguarding his cash likely stemmed from his childhood in Greece. The Mediterranean country suffered a sovereign-debt crisis in the mid-2010s that stoked fears among citizens that their bank deposits could be seized or lost.

The "Greek Freak" has most recently partnered with Calamos CEO John Koudounis on an exchange-traded fund that invests based on environmental, social, and governance criteria.

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