Former FTX CEO Sam Bankman-Fried lost his entire $16 billion fortune – in just a few days after his company filed chapter 11 bankruptcy protection. Investors’ money could be wiped out by the bankruptcy filing.
Former FTX CEO Sam Bankman-Fried lost his entire $16 billion fortune in just a few days after his company filed chapter 11 bankruptcy protection last week, but he’s not the only high-profile investor who may lose money amid FTX’s downturn.
It’s not clear how much equity Brady and Bündchen received in 2021, but FTX raised capital at a $32 billion valuation a few months after the announcement of the deal. It’s unclear what will happen to the money investors put into in FTX, but their equity could be wiped out by the bankruptcy filing. Additionally, Major League Baseball has a marketing deal with FTX where umpires wear an FTX logo on their shirts during games, and the NBA’s Miami Heat renamed their home stadium “FTX Arena” back in 2021. Unlike announcements for the athletes listed above, the press releases for the MLB and Heat did not include mention of an equity stake in FTX.
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