Tom Brady’s heavy investment in FTX is about to evaporate. New bankruptcy filings show that the Tampa Bay Buccaneers quarterback owns more than 1.1 million shares of common stock in the defunct cryptocurrency exchange, while his ex-wife and fashion model Gisele Bündchen owns about 680,000, as previously reported by Bloomberg and Insider.
The NFL star and his then-wife have been brand ambassadors for FTX since 2021, even appearing in a series of commercials for the exchange (who really haven’t aged well). According to an estimate of Forbes, Brady’s investment was estimated to be about $45 million, while Bündchen’s was worth about $25 million. In his report Insider notes, “During typical bankruptcy proceedings, only bondholders can recoup some of their losses, while stock investors are usually wiped out.”
Other high-profile figures listed as FTX stockholders include Robert Kraft, the billionaire owner of the New England Patriots, as well as entrepreneur and Shark cage star Kevin O’Leary. In December, O’Leary told CNBC that he lost the entire $15 million FTX paid him to become a spokesperson for the exchange.
The next bankruptcy hearing for FTX is currently underway in Delaware County Bankruptcy Court and will be streamed live on YouTube. Until now, FTX recovered more than $5 billion in various assets, including cash, liquid cryptocurrency and liquid investment securities. That doesn’t include the extra $425 million in crypto that the Securities Commission of the Bahamas is holding onto that still doesn’t make up for everything that FTX clients owe.
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