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Luol Deng. Photo: Stacy Revere/Getty Images

Luol Deng has made $151 million playing basketball during his 15-year NBA career. All the while, he's been investing in real estate, amassing an impressive portfolio worth $125 million.

Why it matters: "Real estate might not be as sexy or generate the headlines of athletes pouring money into tech startups, but the potential returns can be much more lucrative," writes Forbes' Kurt Badenhausen.

  • "[And] the new 2017 tax law raises that threshold even higher with the creation of Opportunity Zones ... [which] allow investors to plow recent capital gains into projects or companies in low-income areas in each state."

How it works: There are nearly 9,000 "O-zone" areas across the country, which are required to have a poverty rate of 20% or higher or a median household income that is less than 80% of the surrounding area.

  • "Gains compound tax-free, and there are no limits on how much money you put in and how much tax you can avoid," writes Badenhausen.
  • "Deng and at least a half-dozen NBA stars are part of Our Opportunity, which is a new O-zone fund seeking to raise $300 million this year."

Go deeper: Sports stars dive into tech investing

Go deeper

51 mins ago - World

Netanyahu campaigns against Biden's plan to save Iran deal

Netanyahu campaigns at a gym last month. Photo: Pool/AFP via Getty

Israeli Prime Minister Benjamin Netanyahu indirectly criticized the Biden administration for its intention to return to the Iran nuclear deal and told his supporters he was prepared to "stand against the entire world" to stop it.

Why it matters: This is a major change of tune for Netanyahu, who had been careful in his statements on the Iran deal and avoided publicly criticizing President Biden. The statement was part of Netanyahu's attempt to rally his base ahead of Israel's election on March 23.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Tech: "Fludemic" model accurately maps COVID hotspotsVirtual doctor's visits and digital health tools take off.
  2. Politics: Schumer says Senate will stay through weekend to vote on COVID relief — Republican governor of West Virginia says there's no plan to lift mask mandate.
  3. World: Canada vaccine panel recommends 4 months between doses.
  4. Business: Firms develop new ways to inoculate the public.
  5. Local: Ultra-rich Florida community got vaccinations in January.
Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

Why fears of a SPAC bubble may be overblown

Illustration: Annelise Capossela/Axios

The SPAC surge continues unabated, with 10 new ones formed since Wednesday morning. And that's OK.

Between the lines: There are growing concerns that retail investors are about to get rolled, with smart sponsors taking advantage of dumb money.