Sam Bankman-Fried is one of the well-known entrepreneurs in the US cryptocurrency sector who founded companies like FTX and Alameda Research.
Sam Bankman’s company FTX and Alameda Research were one of the largest and most trusted cryptocurrency exchanges in the world, serving millions of customers. But in November 2022, the company was closed due to bankruptcy of both the companies.
Sam Bankman was arrested in connection with the fraud on December 12, 2022, and after a thorough investigation, he was convicted of seven criminal charges, including wire fraud, commodity fraud, securities fraud, money laundering and finance law violations. . Presently he is in jail and waiting for 23rd January because on this day he is to be sentenced.
Before the collapse of FTX, Sam Bankman was the 41st richest person in America according to Forbes and the 60th richest person in the world according to The World’s Billionaires, with a net worth of $26 billion. But currently according to Bloomberg Billionaires Index his net worth is stated to be zero.
Sam Bankman was also named the “World’s Youngest Billionaire” by Forbes in 2021 and in 2022, he was named one of the 100 most influential people in the world by “Time Magazine”.
Physical Stats
| Full name: | Samuel Benjamin Bankman-Fried |
| Born: | 6 March 1992, Stanford, California, USA |
| Profession: | American Entrepreneur |
| Best Known For: | Former CEO of FTX |
| Education: | Massachusetts Institute of Technology (MIT( |
| Age: | 31 Years |
| Height: | 5 feet 8 Inches |
| Weight: | 77 Kg |
| Religion: | Jewish |
| Parents: | Joseph Bankman and Barbara Fried |
| Marital Status: | Un-Married |
| Nationality: | American |
Early Life
Sam Bankman-Fried was born on 6 March 1992 in Stanford, California in an educated family. Sam is the son of Professor Joseph Bankman and Professor Barbara Fried, both professors of economics at Stanford University.
His aunt, Linda P. Fried, is the dean of the Columbia University Mailman School of Public Health andHis brother, Gabriel Bankman-Fried, is a former Wall Street trader who is the former director of the nonprofit Guarding Against Pandemics and its associated political action committee.
Sam was raised in Stanford and received his primary education from Crystal Springs Uplands School in Hillsborough.
Sam, who was a brilliant student since childhood, received a bachelor’s degree in Physics from Massachusetts Institute of Technology (MIT) in 2014 after his high school studies. As an MIT student, he was a member of Epsilon Theta, a fraternity for students interested in science and technology.
Career
Sam Bankman-Fried started his career in 2014. After graduating from MIT, he worked as an intern at the trading firm Jane Street Capital.
After this he worked for some time as the Development Director at the Center for Effective Altruism (CEA) located in Berkeley, California.
Alameda Research (2017)
Sam Bankman-Fried co-founded cryptocurrency trading firm “Alameda Research” with CEA’s Tara McAuley in November 2017 following a fund investment from billionaire computer programmer Jan Talin and investor Luke Ding. It is a cryptocurrency hedge fund that trades in digital assets.
As of 2021, Bankman-Fried owned approximately 90% of Alameda Research. Alameda Research has offices in various countries around the world including Hong Kong, the United States and Singapore.
FTX (2019)
Sam Bankman-Fried founded FTX in 2019. It is a cryptocurrency derivatives exchange firm that allows users to buy and sell contracts on cryptocurrency prices.
FTX quickly expanded its footprint across the world including the US and soon became one of the largest cryptocurrency exchanges in the world.
The earnings of FTX Company added to the wealth of Bankman-Fried. He had earned $26 billion from this company by 2022, making him one of the richest people in the world.
But in 2023, FTX was investigated by multiple financial regulation authorities and accused of fraud and money laundering, which led him to step down as CEO of FTX and become the executive chairman of the company.
FTX filed for bankruptcy in November 2022. Bankman-Fried has also been arrested on fraud charges.
Sam Bankman-Fried’s Net worth
According to the Bloomberg Billionaires Index, Sam Bankman-Fried’s net worth is $0 in 2023. This is because Sam Bankman-Fried’s wealth declined by 94% due to the massive fall in cryptocurrency prices in November 2022, which led to the company FTX declared bankruptcy.
At one time, before the collapse of FTX, Sam Bankman was the 41st richest person in the US and the 60th richest person in the world with a net worth of $26 billion.
FTX was accused of fraud and money laundering following an investigation by multiple financial regulation authorities in 2023, following which he stepped down as CEO of FTX and became the executive chairman of the company.
Personal Life
31 year old Sam Bankman-Fried is not married yet. According to an interview, he said that right now he is focusing on his career and is not thinking about marriage.
He is a very private person and has not revealed much about his personal life.
