Whoa! Their money may have been protected from one another thanks to an ironclad prenup — but not from the market! From what we’re hearing, Tom Brady and Gisele Bündchen both stand to lose a hefty sum following the crash of FTX.
According to Bloomberg, the cryptocurrency exchange went into a tailspin over the past couple days as users withdrew around $6 BILLION! Apparently confidence in the market was shook after a fraud-centric research entity called Dirty Bubble Media said Bankman-Fried’s company Alameda Research was secretly insolvent.
The resulting liquidity crunch led the company to seek an emergency bailout. Even that seems to have fallen through as rival Binance was going to buy them out, but found what’s being called a “black hole” in FTX’s books, according to the Wall Street Journal.
What does that mean? Apparently they were saying they had more money than they actually did — billions more. And when you compound that with Semafor‘s report that almost all of FTX’s legal and compliance staff walked out on the company late Tuesday… it sounds like there was something really shady going on…
OK, so what does this all have to do with Tom and Gisele? The couple — when they were still a couple — took an equity stake in FTX in 2021 as Tom was announced as brand ambassador for the company, with Gisele set to serve as environmental and social initiatives adviser. In a press release, Tom said it was “an incredibly exciting time in the crypto-world.” Well, he wasn’t wrong…
The fallout from this will be massive. At the very least, CEO Sam Bankman-Fried is expected to lose the vast majority of his $15.6 billion fortune. And crypto generally is plummeting, with Bitcoin dropping 17% in just one day. We have no idea how much loss this will be for Tom and Gisele, but we’re guessing a LOT. Millions, even.
Of course, they can afford to lose quite a bit. They had a combined estimated net worth of $650 million, with the NFL star being responsible for $250 mil and the supermodel a whopping $400 mil. The real question now is who got the FTX stock in the divorce. A source told Page Six earlier this month that their splitting of assets was easy because they “both have their own separate business entities.” But they were both in on this crypto thing. Maybe they both have to shoulder some of the loss? That’d be nice, at least. Misery loves company. (And it loves some companies more than others.)
Are YOU surprised to see a crypto crash of this size, Perezcious finance geniuses??
[Image via WENN/Avalon/Bitcoin.]