Tom Brady and Gisele Bundchen lost a combined 1.7 million shares in FTX collapse – with billionaire Robert Kraft and Peter Thiel also affected
- Cryptocurrency exchange FTX filed for Chapter 11 bankruptcy on November 11, rocking the cyber finance world
- Former founder and CEO Sam Bankman-Fried was arrested on December 12 in the Bahamas and was extradited to the U.S. to face eight criminal charges
- Bankman-Fried has plead not guilty, but the collapse of his company has caused many investors to lose vast sums of money
- On Monday court documents were filed providing for the first time the list of investors and their exposure
- The 68-page document listed hundreds of investors – among them institutional investors and individuals, including Brady and Bundchen
On Monday, as part of the bankruptcy proceedings, the list of major shareholders was filed in court.
The 68-page document lists hundreds of individuals and investment firms who had large numbers of shares in the company, which at its peak in September 2021 was valued at $32 billion.
Shares were trading at $80 – now they are essentially worthless. As of Tuesday, they are valued at $0.92, but in reality even that may not be given to the shareholders.
Tom Brady and Gisele Bundchen, pictured in May 2018 at the Met Gala in New York City, have a combined 1.7 million shares in FTX, worth over $150 million at their peak. The former couple – who divorced in October – are unlikely to see any of the money
Bundchen is pictured on stage with FTX founder Sam Bankman-Fried in 2022 at a cryptocurrency conference in the Bahamas. She was an ambassador for the company
Under U.S. law, creditors are repaid in order of priority, and stockholders are last in line – below those with direct claims on a company’s assets, and below customers and suppliers.
Among those who own shares are Brady and his former wife, who starred in adverts for the company.
Brady has more than 1.1 million common shares of FTX Trading, which at their peak were worth $93 million.
Bundchen, who divorced the NFL player in October, has more than 680,000 shares in the same entity, which were once valued at $57 million.
It is unclear how much the former couple lost, as it is not disclosed when they bought the shares – or, indeed, whether they purchased them or if they were gifted to them in return for their promotional work.
Robert Kraft, the billionaire NFL owner, holds more than 110,000 Series B preferred shares in FTX Trading, the entity that owns its main crypto exchange.
Robert Kraft, owner of the New England Patriots, owned shares in FTX that were once worth $53 million
Brady and Kraft are pictured together in February 2017, when Brady won the Super Bowl for Kraft’s team
Brady and Bankman-Fried are pictured together in a clip they shared on social media
His firm also owns 479,000 Class A common shares and 43,545 Series A preferred shares in West Realm Shires, the unit that owns the company’s US-based exchange.
Altogether, the roughly 630,000 shares would have been worth $53 million.
Peter Thiel, a Paypal founder and billionaire venture capitalist, has around 300,000 shares, the documents show, which were once valued at $25 million.
Brady and Bundchen, Kraft and Thiel are yet to comment on the losses or confirm their exposure.
‘At the end of the day, we’re not going to be able to recover all of the losses here,’ said John J. Ray III, who’s handling FTX’s restructuring, last month.
Other large institutional investors include Tiger Global Management, the Ontario Teachers’ Pension Plan and Sequoia Capital.
The Ontario teachers owned 11.9 million shares, making them among the biggest losers.
The fund – one of Canada’s largest pension funds – will write down the entirety of its $95 million investment in FTX, they confirmed in November.
‘The financial loss from this investment will have limited impact on the Plan, given its size relative to our total net assets and our strong financial position,’ said Ontario Teachers’.
‘However, we are disappointed with the outcome of this investment, take all losses seriously and will use this experience to further strengthen our approach.’
Peter Thiel, venture capitalist and billionaire founder of Paypal, had shares once worth $25 million
The fund said it invested $75 million in FTX International and its U.S. entity FTX.US in October 2021, and then another $20 million in FTX.US in January of this year, according to a statement.
The investments were made through Teachers’ Venture Growth (TVG) platform and represented less than 0.05% of the fund’s total net assets, the statement added.
Bankman-Fried, who gave extensive interviews before his arrest, said in November he regretted filing for bankruptcy, and criticized regulators.
‘It sucks,’ he said in a Twitter thread.
‘I’m really sorry that things ended up as they did.’