Billionaires lose billions: What’s happening with Elon Musk and Sam Bankman-Fried?
In a matter of weeks, two major players in the tech industry have seen their net worth drop by billions of dollars — partly the result of their own business decisions.
Sam “SBF” Bankman-Fried, the now former CEO of crypto exchange FTX, reportedly had a net worth of roughly $24 billion in March and $16 billion as recently as Nov. 7, but now he no longer even qualifies for a listing on the Bloomberg Billionaires Index. Some reports suggest that with his stakes in crypto and stock trading platform Robinhood (NASDAQ:), FTX companies and Alameda Research, SBF could be facing serious financial difficulties in the days to come.