Sam Bankman-Fried
 Sam Bankman-Fried    (entrepreneur, billionaire) | |
|---|---|
 | |
| Born | 6 March 1992 |
| Alma mater | Massachusetts Institute of Technology |
| Founder of | FTX |
Samuel Bankman-Fried (also known by his initials SBF) is an American entrepreneur, investor and reportedly a former billionaire. He is the founder and former CEO of FTX, a cryptocurrency exchange, FTX.US, its US affiliate, and Alameda Research, a quantitative cryptocurrency trading firm. FTX experienced a solvency crisis in late 2022, which led to a collapse in FTX's native cryptocurrency, FTT. Amid the crisis, SBF announced he would wind down operations at Alameda Research and resigned as CEO of FTX, which filed for Chapter 11 bankruptcy.[1]
Sam Bankman-Fried's net worth peaked at $26 billion. In October 2022, he had an estimated net worth of $10.5 billion. However, on 8 November 2022, amid FTX's solvency crisis, his net worth was estimated to have dropped 94% in a day to $991.5 million, according to the Bloomberg Billionaires Index, the largest one-day drop in the index's history.[2] By 11 November 2022, the Bloomberg Billionaires Index considered SBF to have no material wealth. Before SBF's wealth eroded in November 2022, Bankman-Fried was a major donor to the Democratic Party and many left-wing political causes. After George Soros, SBF was the second-largest individual donor to Joe Biden in the 2020 election cycle, personally donating $5.2 million, and donated $40 million to the Democratic Party during the 2022 US midterms elections.[3]
Events Participated in
| Event | Start | End | Location(s) | Description |
|---|---|---|---|---|
| Munich Security Conference/2022 | 18 February 2022 | 20 February 2022 | Germany Munich Bavaria | |
| WEF/Annual Meeting/2022 | 22 May 2022 | 26 May 2022 | World Economic Forum Switzerland | 1912 guests in Davos |
References
- ↑ "Sam Bankman-Fried went from relative obscurity to crypto billionaire in just 4 years. Insiders explain how he did it, and what's next."
- ↑ "Sam Bankman-Fried secretly transferred FTX customer funds to Alameda Research after his trading firm suffered losses in the spring, report says"
- ↑ "FTX's crypto empire was reportedly run by a bunch of roommates in the Bahamas who dated each other, according to the news site that helped trigger the company's sudden collapse"
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