Duke Hoops Waterboy Making $25M On Wall Street

Those of you trying recoup lost money in the stock market are all too aware of the meltdown of the financial system. At the center of that implosion throughout has been Wall Street investment bank Goldman Sachs.

Coach K.: Picking up jock straps can make you nine figures

(Coach K.: Picking this up can mean 9 figures in your bank acct.!)

Goldman, along with J.P. Morgan Chase, is largely regarded as the best-run financial institution in the land, and the WALL STREET JOURNAL reports today that the company has regained its financial footing in past months. (Phew!)

One of guys apparently behind the turnaround is 36-year-old Ashok Varadhan. Varadhan pulls down eight figures annually as a Goldman’s top currency trader and recently purchased a Manhattan condo for $16M. Varadhan’s neighbors now include Denzel Washington and Bob Costas.

The WSJ reports Varadhan made $10M per year during a previous bull stock market, with another report targeting his annual income at $25M when he was just 33.

During these economic hard times, I know you must be very, very happy for banker Varadhan’s outrageous fortune. Right.

But if you’re a college hoops fan, you haven’t heard the worst of it yet.

From the WSJ:

In college, Mr. Varadhan was head manager of Duke University’s men’s basketball team; he arranged for team meals during road trips and made sure practice equipment was shuttled from place to place. “He’s used those skills well in what he’s doing right now,” says Duke basketball coach Mike Krzyzewski. Mr. Varadhan didn’t return a call for comment.

If I’d only known picking up used jock straps and filling water bottles could’ve help meant nine figures in my checking account. Thanks Coach K.!

You might think that sounds a little ridiculous, but based on the players Krzyzewski has sent to the NBA, not to mention the performance of head coaches who once worked under him at Duke, if anyone knows about making millions while doing nothing productive, it’s Coach K.