by Rafael Pena
February 15, 2024
Boston Celtics player Jayson Tatum is teaming up with SoFi to establish the SoFi Generational Wealth Fund, dedicated to finanail wellness.
Boston Celtics player Jayson Tatum is teaming up with SoFi to establish the SoFi Generational Wealth Fund, a $1 million commitment to enhance financial wellness and promote homeownership opportunities, according to AfroTech. The partnership underscores Tatum’s personal journey and his commitment to providing resources that were not readily available during his upbringing.
The SoFi Generational Wealth Fund will channel investments into grants designed to assist homebuyers with down payments, focusing on benefiting individuals in Jayson Tatum’s hometown of St. Louis. The initiative aligns with Tatum’s vision to positively impact financial literacy and plan for a brighter future, especially for those who may not have had access to such resources earlier in life.
Reflecting on his own experiences, Tatum, raised by his mother, Brandy Cole-Barnes, emphasized the importance of financial education. “Me and my mom, we didn’t know about investments or savings accounts when we were growing up. But obviously, when I got to the NBA and started to make money, we had to ask questions and learn about things,” Tatum shared, according to KSN-News in Wichita, KS.
Tatum’s commitment to financial responsibility is evident in his decision not to rely solely on his NBA earnings. Instead, he finances his lifestyle through endorsements with companies such as the Jordan Brand, Subway, and Gatorade. Additionally, he is actively saving his earnings for his son’s future, his mother’s retirement, and his own long-term financial well-being.
“Ever since I got my first paycheck, I’ve been planning for my son’s future, my mom’s retirement, and my own long-term financial well-being,” Tatum explained. “Now, I want to help others outside the league up their financial game.”
Anthony Noto, CEO of SoFi, expressed the company’s pride in partnering with the NBA to solidify SoFi as a trusted brand. Noto stated, “As the next generation of banking, we believe we can help millions of NBA fans nationwide achieve their financial goals and get their money right.” He highlighted the importance of the SoFi Generational Wealth Fund in addressing the generational wealth gap and promoting financial education resources for wider accessibility.
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