FTX collapsed into bankruptcy in November, and its effects are far-reaching. Numerous people have invested in the cryptocurrency firm, including some celebrities. Tom Brady and Giselle Bundchen are among the unfortunates to lose all their invested money in this.
Tom Brady and his ex-wife Giselle Bundchen are among the prominent stakeholders of FTX. They along with Patriots owner Robert Kraft are set to lose their entire investment in FTX’s $32 billion collapse. Bankruptcy documents filed Monday show their involvement of them as shareholders.
The Tampa Bay Buccaneers quarterback owns more than 1.1 million common shares of FTX trading. Bundchen has another 680,000 shares of the company. Kraft has 479,000 common shares and 43,545 preferred shares through one of his companies, KPC Venture Capital LLC.
The previous value of their respective investments remains unclear, however, it’s anything but a meager amount. The company itself was once valued at $32 billion and it only could’ve raised more before filing for bankruptcy. The company’s founder Sam Bankman-Fried raised $400 million in investments which has all gone in vain.
Brady and Bundchen’s celebrity status initially spearheaded these investments. Bundchen went so far as to appear with Bankman-Fried at the Salt Crypto Bahamas Conference. They discussed the sustainability of the cryptocurrency industry.
Brady and Bundchen are named as defendants in a class-action lawsuit brought by FTX shareholders. Don Yee, Brady’s agent, and a Robert Kraft spokeswoman did not immediately reply to questions about the circumstance. Thirsty will monitor any subsequent developments.
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