Jayson Tatum joined CBS Mornings on Tuesday to discuss a new partnership called the SoFi Generational Wealth Fund.
Together, The Jayson Tatum Foundation and SoFi are making a multi-year commitment of more than $1 million to help low-income, single-parent families create generational wealth. The money will go toward single parents in St. Louis to help them put a downpayment on a house. The goal is to promote financial literacy and expand homeownership opportunities.
Tatum, who said he’s “still the biggest momma’s boy,” noted that this initiative is organic to himself. He grew up in St. Louis in a single-parent household. His mother, Brandy Cole, was 19 when she had him, and together they lived check-to-check.
He said they never had conversations about financial literacy, because they were simply trying to make ends meet.
“She sacrificed everything that she had to put me in a position to achieve my dreams and create generational wealth for myself, for her, and for my son later down the road,” Tatum said. “Now, just wanting to extend that branch to the community and change lives where I grew up.”
Tatum said that as a parent, you want your son to grow up in a better situation than you did. You want to provide a better life. He said he and Deuce will have conversations about money down the road so Deuce can map out his future as well.
He said that when the Tatums go on vacation, he reminds Deuce to appreciate each opportunity and that money doesn’t grow on trees.
The hosts then asked how it feels to be an All-Star, and Tatum said it’s not something he takes for granted. He knows a lot of eyeballs will be on him, and the NBA, so he was deliberate with the timing of the initiative.
“I thought it was the perfect time to announce the generational wealth fund,” Tatum said.
Host Nate Burleson then brought up Charles Barkley’s comments that the Celtics aren’t mentally tough enough to win it all and asked how such remarks like that make Tatum feel.
“You have to give the respect, right?” Tatum said. “Those are the guys that paved the way for the younger players like myself. You don’t always have to agree.”
He said he understands that no one will give the Celtics the full credit until they actually win it all.
“That’s fine,” Tatum said. “We don’t necessarily pay attention to the outside noise. There’s a group of us in that locker room that go to war with each other every day, and we’re up for the challenge.”
