Daniel Negreanu is a member of Team PokerStars and considered by his peers as being one of the best poker players in the world. According to the HendonMob he has earned over $32 million in career prize money and holds the record for being the number one ranked player in total prize money.
Negreanu recently shared a lot of his insights regarding money management and charitable giving with fellow poker pro Lee Davy. Poker players from previous generations were known to make huge sums of money and then splurge them quickly on luxury apartments, fast cars, costly vacations and VIP parties.
Daniel Negreanu has steered away from this lifestyle and has set the trend as a role model for many youngsters who are looking to turn pro. Negreanu stated that during the early years of his career he did not know a lot about money and used to have around 2 million in Bellagio chips stored safely in a box. He would also prone to taking advice from anyone who came up with a good idea of where to invest and did not always do the research to see if it was a good investment in the end.
All that has changed over the last four years as Negreanu has made it a point to study money and business to determine how to make financially sound investments. The biggest lesson that he learned during this period of time was that it was okay for him to make a living gambling but it wasn’t okay for him to gamble with his investments. Now Negreanu has made a number of safe investments such as municipal bonds and also has a chunk of money in a Morgan Stanley savings account. He has a fixed number that he wants in savings which will generate sufficient savings for him to live comfortably.
Negreanu also opened up about his views on charity and stated that there are many people in the poker community who were very judgemental when it came down to charity donations, something that he disagreed with completely.
In a statement, Negreanu said “If you are passionate about something, if for example your wife feels emotionally touched by a man sitting on a bench freezing, and you can make a difference to him on a very small level, by buying him a hot drink and it warms your heart. I think emotions and feelings of the heart should matter at that moment. We are emotional beings, not robots. I find an elitist view of how to live rightly is a dangerous path to walk down regarding judging people on how they are and how they choose to give.”