Samuel Bankman-Fried is an American entrepreneur, investor, and the founder and former CEO of the cryptocurrency exchanges FTX, FTX.US, and Alameda Research. He was born on March 6, 1992, and is also known by his initials, SBF. Samuel Bankman-Fried is also known by his initials.
Before Sam’s fortune evaporated in November 2022, Bankman-Fried was a significant contributor to candidates running for the Democratic Party. He personally donated $5.2 million to Joe Biden’s campaign for president in the 2020 election, making him the second-largest individual donor to Biden’s campaign. Additionally, he gave $40 million during the 2022 U.S. midterm elections, most of which went to Democratic candidates.
How did Sam Bankman-Fried make his money?
Before his empire fell apart in November 2022, Sam Bankman-Fried was one of the wealthiest people in the cryptocurrency industry because of the FTX exchange that he founded and the Alameda Research trading firm that he co-founded.
Sam established the trading company in 2017 and rented offices in Berkeley, California, which was not too far from where he had grown up as the son of two professors at Stanford Law School. Using their expertise to take advantage of inefficiencies in the Bitcoin market, the company soon gained millions of dollars.
Is Sam Bankman-Fried a billionaire?
Yes, Sam Bankman-Fried’s net worth peaked at about $26 Billion
