Star NFL quarterback Tom Brady, his supermodel ex-wife Gisele Bundchen, tech titan Peter Thiel and hedge fund billionaire Paul Tudor Jones, are among the many high-profile FTX shareholders whose investments have been wiped out, Bloomberg reports.
Other noteworthy casualties in the FTX bankruptcy include New England Patriots owner Robert Kraft, Sequoia Capital, Tiger Global Management, Dan Loeb of Third Point and the family office of Dan Och, according to Bloomberg, which obtained FTX bankruptcy court documents.
Even the Ontario Teachers’ Pension Plan had FTX holdings, all of which are now assumed to be worthless. Even if they weren't, U.S. law puts stockholders of bankrupt companies at the end of the line for payment after those with direct claims on a company’s immediate valuables, those being its assets, customers and suppliers.
As John J. Ray III, FTX’s new chief who is overseeing its restructuring, summed it up last month, “At the end of the day, we’re not going to be able to recover all of the losses here.”
At this time last year, FTX was valued at $32 billion and its founder, Sam Bankman-Fried, was one of the wealthiest people in the world.
In November, U.S. crypto investors sued Bankman-Fried, Brady and several other celebrities who promoted FTX. Comedian Larry David was also named in the suit, which claims they engaged in deceptive practices to sell FTX yield-bearing digital currency accounts.