How much is Sam Bankman Fried’s wealth .. and why is he losing it?

According to the report, Sam Bankman Fried (SBF), former CEO of cryptocurrency exchange FTX, He had About $24 billion in March and $16 billion on November 7, but now it’s not eligible. to include In the Bloomberg Billionaires Index. With its stake in crypto and stock trading platform Robinhood, FTX and Almeida Research, some reports suggest that SBF may face serious financial difficulties in the coming days.

Also Read: FTX Platform’s CEO Declares Americas Division Will Never Be Affected… Any Hope for Platform’s Return?

A number of news stories about the FTX platform’s liquidity issues spread across the crypto space within a week. Sam Bankman Fried said On November 7th FTX said in a since-deleted tweet that “assets are good” after dismissing several reports of the company’s liquidity as “false rumours”.

It was later announced that FTX was working on a potential arrangement with Binance to address the “liquidity crunch”, but the deal collapsed within 48 hours. SBF Sam Bankman Fried resigned and two days later announced that FTX was filing for US bankruptcy.

Also Read: FTT Currency Like LUNA Fears Crash .. Binance Sells Its Currency Holdings

FTX now joins the list of unreliable centralized cryptocurrency exchanges that have broken this cycle; Because it is empowered not only with the money of its customers but also with the ethics, integrity and ideals of cryptocurrencies. “We hope that the industry as a whole and individual crypto users can learn and grow from this experience.”

Elon Musk, Tesla CEO and still the world’s richest man, has been teasing a Twitter takeover for months, leading many to believe the billionaire has no intention of following through. When the deal was reached in October, Musk bought Twitter for $44 billion, estimated to cost him about $1 billion in annual interest costs.

Also Read: Elon Musk Sells His 4 Billion Shares.. Will He Empty His Crypto Holdings?

Musk’s net worth was $300 billion before Twitter’s acquisition in October 2021 and at the same time, Tesla’s share price reached an all-time high of $407.36 in November 2021. Bloomberg Billionaires Index The Tesla CEO has lost more than $86 billion, reducing his net worth to $184 billion at press time.

Elon Musk has already implemented a series of controversial policies that have many in the business world questioning Musk’s role. He fired several senior executives in his first week at the company, including several members of Twitter’s content moderation team, causing Twitter’s platform to be flooded with tweets. Contains hate speech.

Also Read: 10 Things You Didn’t Know About Billionaire Elon Musk