Sam Bankman-Fried No Longer a Billionaire After $14.6B Overnight Wipe-Out

https://www.coindesk.com/business/2022/11/09/sam-bankman-fried-no-longer-a-billionaire-after-146b-overnight-wipe-out/

by SirLJ • 4 years ago

33 15 4 years ago

coindesk.com

phlipski• 4 years ago

Live by the crypto, die by the crypto.

fnordpiglet• 4 years ago

Having a net worth of 900m isn’t quite death

uni_rule2• 4 years ago

Wish I could afford to lose that much and still have that much. Then again, if I was born into that kind of money there is a decent chance I would be a significantly worse person.

gregvab• 4 years ago

No longer part or the tres commas club

big_elephant• 4 years ago

if you round down he has zero billion

jbirer2• 4 years ago

I don't really understand people who have lots of money and not spend it. Whenever I get paid from my remote jobs or a business venture I either travel or buy cool gear or things I want.

motoxpro• 4 years ago

Same reason they are able to go from being a billionaire to not overnight, they never had it in the first place. It would be like me saying "Your are worth 500,000 because of your house, why don't you spend it?" You don't have 500k, the thing you own is worth 500k. Much different than you getting paid and having money in the bank.

jbirer2• 4 years ago

Indeed, if you can't spend it or use it, is it really yours? This is something up to debate.

europeanguy• 4 years ago

Not everyone is about buying cool gear. There's other reasons why money is nice.

unmole• 4 years ago

He lives in a oceanside luxury resort in the Bahamas and claims to have donated $100mn this year. I don't know how that compares to cool gear but it's safe to assume he gets plenty of utility from his money.

https://www.ft.com/content/83bc681a-a0f9-43bb-b627-c6dacae4a...

uni_rule2• 4 years ago

Most luxuries are a blip on the map at the scale these types work at, especially when hundreds of millions is considered the "low".

djanogo• 4 years ago

Hopefully this will make him stop funding politicians in states that he doesn't live in (He was top 10 democratic donor for Beto).

entropicgravity• 4 years ago

So not exactly a soft landing.

Sam Bankman-Fried No Longer a Billionaire After $14.6B Overnight Wipe-Out

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