Skip to main content
Business

Mark Zuckerberg, Tom Brady, Gisele Lose Billions in FTX Crypto Exchange Collapse

Written by Anna TongPublished Nov. 10, 2022 • 4:33pm
Gisele Bundchen and Tom Brady attend the Heavenly Bodies: Fashion & The Catholic Imagination Costume Institute Gala at The Metropolitan Museum of Art on May 7, 2018 in New York City. | Mike Coppola/MG18/Getty Images for The Met Museum/Vogue

English

A cryptocurrency exchange crash has wiped out almost $2 billion in investor cash, affecting high profile celebrities, pension funds and lesser-known Bay Area billionaires.

The FTX exchange ensnared many prominent investors and individuals before it crashed Tuesday.

FTX counted celebrities such as NFL star Tom Brady and ex-wife Gisele Bundchen as investors, PitchBook data shows. They also had San Francisco-based Iconiq Capital, which manages money for Mark Zuckerberg and Jack Dorsey—not to mention all of the consumers whose deposits are currently unavailable for withdrawal. Other big losers include the Canadian Ontario Teachers’ Pension Plan fund, which invested $95 million.

The firm was founded by Bay Area native Sam Bankman-Fried in 2019 and based in the Bahamas.

High-profile investors are already writing off their entire investments. Sequoia Capital, who had invested over $200 million at valuations between $18 billion and $25 billion, tweeted it was assuming the investment was now worthless.

In its latest funding round completed in January 2022, FTX was valued at over $32 billion, and Bankman-Fried’s net worth was said to be $26 billion.

Below are all the FTX investors in one chart, according to PitchBook data. While PitchBook only discloses total funding rounds, it’s a good guess that B stage or later investors lost anywhere between $10 million and hundreds of millions of dollars.

The list includes many prominent venture capital funds such as Sequoia, NEA and Lightspeed Venture Partners. Some of the biggest losers in the collapse were likely investors who had invested in multiple rounds at high valuations, including SoftBank, New York-based Insight Partners, Singapore-based Temasek Holdings and Tiger Global Management.

See Also

Prior to the collapse, 30-year-old Bankman-Fried was considered a wunderkind. A graduate of MIT who majored in physics, he was known for being committed to spending his entire fortune on philanthropy. He was a prominent donor to Joe Biden and had paid $135 million for naming rights to the Miami Heat stadium. He ran ads in The New Yorker magazine that featured him and Gisele Bundchen with quotes such as, “I’m in on crypto because I want to make the biggest impact for good.”

Sequoia Capital Partner Michael Moritz is a co-founder and investor in The San Francisco Standard.

Are you an individual who is affected by the FTX collapse? Please get in touch.

English

Anna Tong can be reached at [email protected]


FTX Contagion: BlockFi Bankruptcy Wipes Out Billions for 400,000 Everyday Americans and Investors Like Peter Thiel

FTX Contagion: BlockFi Bankruptcy Wipes Out Billions for 400,000 Everyday Americans and Investors Like Peter Thiel


World Cup Breathes Much Needed Life Into Struggling San Francisco Venues

World Cup Breathes Much Needed Life Into Struggling San Francisco Venues


University of California Workers Reach Tentative Deals as Strike Enters Third Week

University of California Workers Reach Tentative Deals as Strike Enters Third Week


They Bought Steph Curry’s NFTs On FTX. Now Those NFTs Are Gone

They Bought Steph Curry’s NFTs On FTX. Now Those NFTs Are Gone


Watch: The Extraordinary Saga of Sam Bankman-Fried and the Collapse of FTX

Watch: The Extraordinary Saga of Sam Bankman-Fried and the Collapse of FTX



Stay on top of what’s happening in your city

SF’s most important stories, delivered straight to your inbox



By clicking Subscribe you confirm you have read and agree to our Terms of Use and acknowledge our Privacy Policy