Sam Bankman-Fried unsure about his $100 million Twitter stake, after Elon’s takeover Bankman-Fried summed up that some of his Twitter stakes may have been traded in late October before Twitter went private but couldn't confirm this.
The co-founder and former CEO of FTX Sam Bankman-Fried which collapsed earlier this month said that he is not sure what will further happen to his $100 million Twitter stake.
“I believe that that it was intended for Alameda to roll over at least $20 million or more,” Bankman-Fried told Axios on Monday, referring to Alameda Research, the trading firm he also co-founded. “I don’t know for sure whether that ultimately happened.”
Bankman-Fried summed up that some of his Twitter stakes may have been traded in late October before Twitter went private but couldn’t confirm this.
In a text viewed by Axios, Bankman-Fried told Twitter CEO that the stake was worth around $100 million owned by Alameda. But the report doesn’t say anything about the message when it was sent.
Musk claimed that the FTX former CEO had not invested in the micro-blogging platform after the company went private. Axios’ interview with the crypto mogul came just days after this event. Musk in response to a comment to an article by Semaphore which mentioned that Musk had invited him to roll over his public shares of Twitter into a stake in Musk’s privately held company, shortly after he offered to buy Twitter.
As per a report from The Financial Times, the balance sheet of FTX which was dated November 10 listed that it had Twitter shares, which is described as an “illiquid” asset.
“As I said, neither I nor Twitter have taken any investment from SBF/FTX,” Musk tweeted last Wednesday in response to the Semaphore article.
In another tweet, he said: “He may have owned shares in Twitter as a public company, but he certainly does not own shares in Twitter as a private company.”
Before the collapse of the company, Sam thought of purchasing the social media Twitter and was even working with Elon. This was proved in text messages are were sent as evidence in a lawsuit between Twitter and Elon Musk.
But later when FTX fell, Musk informed his followers on Twitter that he held a meeting to discuss the true and potential investment in Twitter, where he had a bad impression of Sam.
On Monday, Bankman-Fried said about the status of his finances he had “no idea” and also said that the last time he checked his bank account he had $100,000, during his interview with Axios.
According to estimates by Bloomberg, Bankman-Fried dropped his net worth from $156 billion to $1 billion earlier this month on a single day after the FTX failed to secure a bailout and filed for bankruptcy.
The former CEO of FTX once had a fortune that peaked at an estimated $26 billion. He was building his fortune planning to give it all away, Bankman-Fried said.