Quarterback Tom Brady, his former wife Giselle Bündchen and his former boss, New England Patriots owner Robert Kraft, are listed among the losers in the FTX Group’s bankruptcy court papers.
Brady, who was a prominent FTX booster, owns more than 1.1 million common shares of the collapsed crypto currency exchange, while his supermodel ex holds more than 680,000 shares, Bloomberg reported, citing court documents.
KPC Venture Capital, meanwhile, an entity linked to the Kraft Group, holds more than 110,000 Series B preferred shares in FTX Trading, the entity that owns the disgraced company’s main crypto exchange, Bloomberg reported. The investment firm backed by the Patriots’ owner also holds 479,000 Class A common shares and 43,545 Series A preferred shares in West Realm Shires, an FTX unit that owns the company’s US-based exchange.
Falled FTX founder and CEO Sam Bankman-Fried appears to hold about 109 million Series A preferred shares, 791 million Class A common shares and 1.12 billion Class B common shares.
The court documents list dozens of other holders, from the rival crypto exchange Coinbase, with nearly 4 million Class A common shares, to Wall Street stalwarts like Sequoia Capital with upwards of 27 million across the various classes and activist investor Daniel Loeb’s Third Point, with nearly 11 million common and preferred shares combined. Third-party investors like the Ontario Teachers’ Pension Plan also got burned on about 12 million Class A shares.
It’s not clear if other A-listers were caught up in the spectacular collapse of FTX. Their investment vehicles are often obscured with names that don’t reveal the identities of the people behind them.
The value of the holdings could not be immediately determined, but Bloomberg said they are “assumed to be practically worthless” because stockholders of bankrupt companies rarely recover losses. U.S. law requires that creditors line up to get repaid in order of priority, putting stockholders on line after those with direct claims.
About a year ago, FTX Trading raised $400 million, valuing the company at $32 billion, Bloomberg noted. Bankman-Fried
The news reinforces comments by John J. Ray III, who took over the company’s restructuring last month, that “we’re not going to be able to recover all of the losses.”
Bankman-Fried was released on a $250 million bond packageon Dec. 22 while he awaits trial for fraud and mismanagement over the collapse of FTX, which a U.S. prosecutor called a “fraud of epic proportions.”
FAQs
Tom Brady owns more than 1 million shares in FTX that are practically worthless after the crypto exchange collapsed—and Gisele isn't too far behind. Billionaire New England Patriots owner Robert Kraft and star NFL quarterback Tom Brady are among those sharing in the pain of FTX Group's sudden implosion.
Did Tom Brady really lose money in FTX? ›
That means as FTX crumbled, Brady lost all of his money tied up with the company, which, according to The New York Times, included $30 million in company stock that FTX used to pay Brady for his services. FTX paid Bündchen $18 million in shares herself, so the couple lost $48 million total during the collapse.
How much did Gisele lose from FTX? ›
The New York Times is reporting that the couple ended up losing a staggering $48 million in the now-bankrupt crypto exchange FTX.
Who lost the most in FTX collapse? ›
Sequoia Capital likely suffered the greatest loss for an outside investor in the exchange with its $200 million investment, which peaked at $350 million in January 2022, according to data obtained by Forbes. RELATED: Who Is FTX Founder Sam Bankman-Fried?
Did Tom Brady have ownership in FTX? ›
Tom Brady and Gisele Bündchen's advisors "saw what they believed were legit financials" when they invested in FTX, per the Financial Times. The then-couple owned 1.8 million shares in FTX between them, bankruptcy filings show.
How did Tom lose $30 million? ›
Brady received $30 million in stock for supporting FTX, which inevitably became worthless after the company collapsed.
How much did Brady get paid by FTX? ›
“He paid Tom Brady $55 million for 20 hours [of work] a year for three years,” Lewis said on “60 Minutes.” Lewis noted that Warriors guard Stephen Curry was paid $35 million for a similar arrangement.
Was Tom Brady involved in cryptocurrency? ›
During crypto's boom, which began in late 2020, athletes were among the most prominent ambassadors of cryptocurrencies and their exchange platforms -- such as FTX, Voyager Digital and Binance. Brady and NBA star Steph Curry joined Hollywood stars such as Larry David, who appeared in ads and posted on social media.
How much is Tom Brady worth? ›
When NFL legend Tom Brady left the field at the end of the final game of the 2022 season, he was the league's career leader in passing yards (89,214) and touchdowns (649). He also left with an estimated net worth of $512 million.
How did FTX lose money? ›
FTX crashed due to mismanagement of funds, lack of liquidity and the large volume of withdrawals. Binance announced it would buy FTX to prevent a larger market crash, but quickly bailed out of the deal as more news reports of mishandled customer funds surfaced.
FTX founder Sam Bankman-Fried, left, arrives at a federal courthouse in Manhattan on Feb. 16, 2023. Nearly all customers of FTX will get their money back, plus interest, after the cryptocurrency exchange imploded 17 months ago.
Did Steph Curry lose money in cryptocurrency? ›
Curry was paid in equity from cryptocurrency exchange FTX, which filed for bankruptcy last week after it had mishandled billions in customer funds, and its own token, FTT, plummeted in value. That equity is now worth very little. It turns out FTX wasn't made up of crypto experts either.
Where did the FTX money go? ›
FTX founder Sam Bankman-Fried and senior staff spent customer funds on technology investments, luxury real estate and political contributions, among other things. The missing funds are at the heart of Bankman-Fried's criminal trial, which kicked off in Manhattan federal court this week.
How much did Tom Brady and his wife lose in FTX? ›
Tom Brady and ex-wife Gisele Bündchen, among the biggest shareholders of now-defunct crypto exchange FTX, lost nearly $50 million due to their involvement in the company, according to a report.
How much did Netflix pay Brady? ›
How much did Tom Brady get paid for the roast. He was paid nearly $25 million for the roast.
How much did FTX pay Stephen Curry? ›
In an interview with “60 Minutes” on Sunday, author Michael Lewis claimed that Golden State Warriors star Stephen Curry was paid $35 million by the failed cryptocurrency exchange firm FTX for just 60 hours of work over three years.
Did Tom Brady really lose $30 million in crypto? ›
Tom Brady is one of several celebrities and athletes named in a lawsuit against the company. Tom Brady apparently lost millions after cryptocurrency company FTX collapsed last fall. The longtime NFL quarterback served as an ambassador for FTX and frequently appeared in commercials for the company.
Did FTX users get their money back? ›
FTX founder Sam Bankman-Fried, left, arrives at a federal courthouse in Manhattan on Feb. 16, 2023. Nearly all customers of FTX will get their money back, plus interest, after the cryptocurrency exchange imploded 17 months ago.
How much money is Tom Brady worth? ›
Brady's endorsem*nt calculation was made in May 2022, and any gains or losses Brady may have had since then are not included in that figure. That endorsem*nt total would put Brady's net worth around $512 million if you combine his on- and off-field earnings.
