SoFi And Jayson Tatum Partner To Establish $1M Fund That Will Help Individuals Become Homeowners

Jayson Tatum is looking to support individuals in becoming homeowners.

According to a press release, SoFi will partner with the Jayson Tatum Foundation to create the SoFi Generational Wealth Fund, an ambitious $1 million commitment to improve financial wellness in families.

Per KSN-News in Wichita, KS, the investment will go toward grants that will provide a down payment for homebuyers in Tatum’s hometown of St. Louis, MO.

For Tatum, who was raised by his mother, Brandy Cole-Barnes, and entered the world when she was only 19, the partnership is a reminder of the resources that would have been impactful during his upbringing.

“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,” the Boston Celtics player said, according to KSN-News.

As AFROTECH previously mentioned, Tatum made a deal with Cole-Barnes that he would not be living off his millions in earnings as a Celtics player. Instead, he is funding his lifestyle through his endorsements with companies including the Jordan Brand, Subway, and Gatorade. He is also proactively saving his earnings to better position himself and those around him.

“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 in the previously mentioned news release. “Now, I want to help others outside the league up their financial game. I’m excited to be working with an innovative partner like SoFi, who is ushering in a new generation of ways to get your money right, to help spread the word on financial literacy and planning for a bright future.”

Anthony Noto, CEO of SoFi, shared in a statement:

“SoFi is proud to partner with the NBA to cement our brand as a trusted household name through the league’s vast reach,” he said. “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. We’re excited to work with Jayson Tatum on the new SoFi Generational Wealth Fund, through which we’re donating $1 million, taking action together on the need for more widespread access to financial education resources, and closing the generational wealth gap in America, where nearly 60% don’t feel like they can become financially secure.”