Sam Bankman-Fried
Samuel Bankman-Fried, also known by his initials SBF, is an American entrepreneur, investor and former billionaire. He is the founder and former CEO of FTX, a cryptocurrency exchange; FTX.US, its U.S. 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, Bankman-Fried announced he would wind down operations at Alameda Research and resigned as CEO of FTX, which filed for Chapter 11 bankruptcy. Bankman-Fried's net worth peaked at $26 billion. In October 2022, he had an estimated net worth of $10.5 billion. However, on November 8, 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. By November 11, 2022, the Bloomberg Billionaires Index considered Bankman-Fried to have no material wealth.
