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Sam Bankman Fried Net Worth: Who Is Sam Bankman Fried?

Sam Bankman Fried, better known by his initials SBF, is an American entrepreneur famous as one of the wealthiest people in crypto, before November 2022. During the peak time of his wealth, Sam Fried was estimated to possess a net worth of $26 billion, making him the wealthiest 29-year-old at that time.

As per the reports available, Sam Bankman Fried net worth is estimated at approximately $10.5 billion in October 2022. SBF had been making the headlines for the past few days for a piece of very shocking news. It was reported that there had been a crash in his business and investments owing to a liquidity crunch of the cryptocurrency exchange FTX.

Sam Bankman Fried Net Worth

As of Monday, Sam Fried was estimated to have a net worth of $15.6 billion, which ensured him a place among the 100 wealthiest people in the world. But just within the span of a single day his net worth came crashing down to $1 billion. This is said to be the biggest one-day collapse among the billionaires tracked by Bloomberg.

All About Sam Bankman Fried

Once the owner of a multi-billion empire, Sam Bankman Fried was born on March 6, 1992, on the campus of Stanford University. Sam Fried is the son of Joseph Bankman and Barbara Fried. They are both professors at Stanford Law School. Sam Fried was born into a family of academics. Sam completed his high school education at Crystal Springs Uplands School.

During his high school days, Sam Fried attended the Canada/USA Mathcamp, which is a summer programmed which is organized for students who are talented in mathematics. Sam Fried attended the Massachusetts Institute of Technology and graduated with a degree in physics and a minor in mathematics in 2014. 

Sam Bankman Fried Net Worth And Salary

Sam Bankman Fried was regarded as one of the wealthiest people in crypto until Monday. He was also one of the billionaires in the world who was tracked by Bloomberg. Before the crash of his business, Sam Fried was one of the 100 wealthiest people in the world according to Bloomberg Billionaire Index. Sam Bankman Fried net worth is approximately $10.5 in October.

During the time of his peak success, Sam Fried was estimated to have a net worth of $26 billion. Sam Fried was known as the wealthiest 29-year-old at that time. Sam Fried gained his wealth from his establishment of FTX, which was the third-largest crypto exchange in the world.  The company was founded by Sam Fried in April 2019. 

The growth of FTX and Sam Fried was very fast and the profits generated through his firm, helped him acquire major shares of famous and valuable companies. Before founding the FTX, Sam Fried founded another firm which was known as Alameda Research. Alameda Research was a quantitative trading firm and was founded by Sam fried in 2017.

As per the reports of 2021, Sam Fried owned about 90%of Alameda Research. During the lawsuit between Elon Musk and Twitter, it was revealed that Sam Bankman Fried had offered Elon Musk about $5 billion for his purchase of Twitter.  

The Cause of his downfall 

The starting of downfall of Sam Bankman Fried came after the reveal of Changpeng Zhao that he plans on selling his holdings of FTT, which was FTX’s token. Zhao is the CEO of Binance, which is the largest cryptocurrency exchange in the world and is also one of the biggest competitors of FTX. The announcement by Zho about the sale and also the feud between Zhao and Sam Fried led to the decline in the value of  FTT and other cryptocurrencies. 

On November 8 Zhao announced that he had entered a deal with FTX and that he will purchase FTX due to a liquidity crisis that happened at FTX. Still, it was also mentioned in the deal that the company had the discretion to pull out from the deal at any time.Through his Twitter account, in one of his posts, Zhao announced that FTT will be “highly volatile in the coming days as things develop.” The announcement had a huge effect on the value of FTT, which led to the loss of its 80 percent value. 

Sam Bankman Fried

On November 9, 2022, Bloomberg reported that the acquisition of FTX by Binance would be unlikely as the financial status of FTX was very poor and later that day, the news was confirmed through the Wall Street Journal that Binance walked out on the deal to acquire FTX. Binance pointed out FTX’s mishandling of customer funds and its pending investigations as the reason for its exit from the deal. Within a single day, Sam Bankman Fried lost around 94% of his wealth and he was no longer a member of the Bloomberg Billionaire Index. 

Sam Bankman Fried Personal Life and Relationships

Sam Bankman Fried is a strong advocate of altruism and he describes himself as a selfless altruist. According to the beliefs of an altruist, he values the welfare of other people than himself and does the best in other people’s interest. Sam Bankman Fried has also made a promise to donate most of his fortune to charity, thereby helping others who are in need.

He also made an offer of $1 billion for political candidates in the US who promised to make suitable preparations for a possible pandemic. It should also be noted that his belief in altruism has not been reflected in his real life. As per the reports of Cointelegraph, Sam Fried has only donated a very low percentage of his wealth, which is around 0.1 percent. 

Nothing much is known about the relationship status of Sam Bankman Fried. As per available reports, Sam Fried lives in Hong Kong and he is reported to stay with roommates. Any mention of a potential dating life or past relationships with Sam Bankman Fried is unavailable as of now, but we will update you about the details if we get our hands on any solid information. 

Social Media Talks About Sam Bankman Fried

Sam Bankman Fried had been making headlines for the past few days, regarding his loss. As per records, Sam Fried lost almost 94 percent of his worth which brought his net worth from $ 14 billion down to approximately $ 1 billion. The feud between Zhao of Binance and Sam Fried which led to the eventual crash of his business took place on Twitter. He also apologized to his staff and investors via Twitter for the sudden collapse of his business. 

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