When Jayson Tatum was drafted by the Boston Celtics with the third overall pick in the 2017 NBA Draft, he knew his life would change forever. And not even from a basketball standpoint, but from a financial planning perspective. Enter SoFi.
Tatum, who had his son Deuce three months into his rookie year in the NBA, began earning life-changing amounts of money at the age of 19. As the third overall pick, Tatum signed a four-year, $30 million rookie scale contract — an average annual value of around $7.5 million per season.
In February 2024, online personal finance company and bank SoFi announced a partnership with Celtics star Jayson Tatum. Together, the two established the SoFi Generational Wealth Fund, a program in which SoFi is donating $1 million with the goal of promoting financial literacy and helping to create family-sustaining wealth for years to come.
“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,” said Tatum in the partnership announcement. “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.”
According to SoFi, the Generational Wealth Fund will deploy $1 million through grants and direct aid to positively impact individuals far beyond the basketball court. In partnership with the Jayson Tatum Foundation, the Fund furthers Tatum’s S.M.A.R.T. Project, which assists single parents as they navigate parenthood, education and financial wellness. The Fund aims to reach the community with helpful financial resources to support financial literacy and to expand opportunities for homeownership as a path to sustainable wealth for future generations.
Jayson Tatum On SoFi Partnership
Following an incredible season in which he was named to his fifth straight All-Star Team, his third straight All-NBA First Team selection, and an NBA Champion, Jayson Tatum spoke exclusively with ClutchPoints to explain why this partnership is crucial to him.
“For me, it's about things that are organic,” Tatum told ClutchPoints at his Jordan Brand camp last month. “And being with a brand that is very impactful in the sense of trying to make a difference and trying to impact communities all over the country. And it's a way for me to be able to give back and invest back into my community in St. Louis with the initiatives that we have. And then for them to come to my camp and be able to talk to the kids about managing money and all those things is really important.”
SoFi brought Brian Walsh, PhD and Certified Financial Planner, to Jayson Tatum's Jordan Elite Camp, where high school and college athletes took to the court to learn from the NBA's best while also taking a class on financial planning and how to best prepare for the influx of money that comes with being a pro at such a young age.
Walsh, also known as Dr. Money, sat down with multiple groups of athletes throughout the day as part of the financial education component to the camp. From breaking down the complications of credit cards to being brutally honest about money spending strategies, the young athletes received a starting-level breakdown on what to expect.
“I really really just [want] to spread awareness and spread information about having money, making money, saving money, investing money, how to manage it, essentially,” Jayson Tatum explained to ClutchPoints. “Especially people and kids that look like me, that come from very different backgrounds and may not have that knowledge of what to do with the money when you get it, so it's better to teach them young and early as possible.”
Since the NCAA passed the interim NIL (Name, Image, Likeness) policies in June 2021, student athletes have had the ability to earn money and hire professionals to help them navigate those deals. As of 2024, there are a number of high school and college athletes with valuations of over $1 million in their NIL deals.
That's just one more reason Tatum felt like it was important to start this partnership.
“Kids are making money even earlier than I was at 19. They're getting it in high school, so that was extremely important. To have people like myself and Chris Paul, the guys that they can relate to and look like them and came from where they came from. I think that's a very important piece too.”
Tatum's second contract in the NBA was a five-year, $163 million rookie max extension signed in November 2020. Since his partnership with SoFi started, Tatum signed the largest contract in NBA history, inking a five-year, $314 million deal with the Celtics. That's an average annual value of $62.8 million per season over the next five seasons, and includes a player option for the 2029-30 season worth $71.4 million.
That's an unbelievable amount of money, and it's something the Celtics star doesn't plan on touching anytime soon.
“I really started taking it seriously my second or third year,” Tatum told ClutchPoints. “Me and my mom had made a commitment to each other that I was going to save all my NBA money and live off my endorsements. Because you have the rest of your life to live and your family to take care of and kids and whatnot, pretty early on.
“Especially just being in the NBA, there's a misconception that you just have all this money and you're going to be rich forever and just don't live outside of your means. Don't try to keep up or live a lifestyle that is not made for you or that you can't afford. I think that's where a lot of people in professional sports may go wrong. It's alright to save money, it's okay to live within the money that you make. And then just being knowledgeable. Ask questions, don't just blindly trust somebody to manage your money. That's how people get taken advantage of.”
Jayson Tatum: NBA Champion With The Celtics
The Boston Celtics defeated the Dallas Mavericks in the 2024 NBA Finals, bringing the Larry O'Brien trophy back to Beantown for the first time since 2008. Boston made quick work of Dallas, with Jayson Tatum's teammate Jaylen Brown taking home Finals MVP honors.
Despite being a champion for nearly two months, the Celtics star says it still has not hit him.
“Nah, it's still like unreal,” Tatum grinned. “It's like, just seeing pictures and videos of that moment. You know, people come up and say congrats all the time. It's like, man, we really did it.”
At multiple points following the championship victory, Tatum seemed like a player who just had a massive weight lifted off his shoulders. At age 26, Tatum is not even in his prime yet, but was already a five-time NBA All-Star, four-time All-NBA member, and an All-Star Game MVP in 2023.
This Finals win, however, allowed him to breathe a huge sigh of relief.
Yeah, just… You know, that was the thing that people held over my head, especially in recent years,” Tatum said. “‘He's gotten so close, but can he do it?' All the times that you have gotten close and failed. And then you finally get over the hump? That feeling is unmatched.”
After winning the title and being named the cover athlete for NBA 2K25 alongside Las Vegas Aces star A'ja Wilson, Jayson Tatum says he's looking forward to teaming up with LeBron James, Kevin Durant, and Stephen Curry in the 2024 Paris Olympics.
“I want to win the Gold Medal, enjoy the Olympics, enjoy the experience. I'm playing with LeBron [James] and Kevin Durant and Steph Curry, like I'm playing with three, not just those guys, but I'm playing with some of the greatest players ever. So I'm going out there and I'm looking forward to it.”
When asked about the upgraded competition in the Eastern Conference — specifically Paul George joining the Philadelphia 76ers in free agency and Mikal Bridges being traded to the New York Knicks — Tatum wasn't even thinking about either of those teams or that far ahead.
“Man, we won a championship,” Tatum laughed. “I'll worry about that later. This time is about us. We won. Obviously, next season is coming up, but I'm still living in the moment. Like I'm enjoying what we accomplished.
“Winning a championship, that's like making history. Not many people can ever say they did it, so I'm going to enjoy it for a while.”
The Celtics' star is going to enjoy this for a while. He plans on following his NBA title with an Olympic Gold Medal. And then he'll begin preparing for the title defense.
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