If you thought Dwayne ‘The Rock’ Johnson and Dany Garcia were done investing after the blockbuster announcement of their XFL purchase, well you’d be wrong.
The new XFL co-owners have now become strategic investors in the investing app, Acorns. Their partnership involves several new Acorns programs that encourage families to begin investing early for their children’s future with an added incentive of $7 invested in families Acorns Early account when they sign up.
Acorns is a smartphone app that “rounds up” your spending to the nearest dollar and invests that difference. You link a credit card and checking account, and Acorns does the rest. This microsavings app makes investing almost painless because you’re spending only pennies at a time.
Johnson told People Magazine that he was inspired to partner with Acorns after seeing what the Covid-19 pandemic has done to struggling families.
“Especially this year, there are so many people feeling as I did when I was struggling with just $7 bucks in my pocket; anxious and uncertain about my life and future,” says Johnson. “In particular, our children have experienced life changes and through it they have shown a resilience and heart that we adults and parents are so exceptionally proud of.”
He also told People:
“During this pivotal moment, there is a chance for us to empower our children to be financially educated and supported by us to grow and become the leaders we know they will be. We have an opportunity to give every child an equal chance right from birth. To me, $7 bucks represents a defining moment in my life, it represents possibility, hope and a new beginning.”
The $7 amount actually has some backstory as well. Johnson tells People had just $7 to his name when he was cut from the Canadian Football League in 1995. Compare that to know where he owns one of their main competitors.
It’s great to see the new owners of the XFL taking a lead to make the world a better place. We hope to see more great partnerships out of them and look forward to seeing how some of them may intertwine with the XFL.