Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

# 193 Sam Bankman-Fried $9.19B

Random fact: Follows principles of effective altruism.

Overview

Sam Bankman-Fried is co-founder and chief executive officer of FTX, a Bahamas-based cryptocurrency exchange that's been valued at $32 billion. The California-born billionaire also founded the quantitative cryptocurrency trading firm Alameda Research and owns a stake in brokerage Robinhood Markets.

As of :
Last change -$418M ( -4.4%)
YTD change -$7.04B ( -43.4%)
Biggest asset FTX Cryptocurrency Derivatives Exchange
Country / Region United States
Age 30
Industry Finance
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Sam Bankman-Fried's net worth of $9.19B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Bankman-Fried is the co-founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange. The firm raised $400 million in an January 2022 fundraising round that valued it at $32 billion, according to a Bloomberg News report.

He's calculated to own a 54% stake in the firm based on information provided by a person familiar with its ownership who asked not to be named because the information is private. FTX is valued based on the price implied by its January 2022 capital raising and adjusted according to the performance of the NYSE FactSet Global Blockchain Technologies Index. A 15% liquidity discount is applied.

He also owns FTX US, a related US arm of FTX, that was valued at $8 billion in a January 2022 fundraising round. He's calculated to own a 70% stake in the firm based on the firm's fundraising history. It's value is based on the fundraising round and adjusted according to the NYSE FactSet Global Blockchain Technologies Index. A 15% liquidity discount is applied.

Bankman-Fried also owns almost all of Alameda Research, an investment firm focused on the cryptocurrency sector with more than $13 billion in assets. Its position in cryptocurrency Solana, its most liquid investment, was verified by Bloomberg in September 2021 and is valued using prices as of Sept. 17, 2021 and adjusted using the MVIS CryptoCompare Solana VWAP Close Index.

Bankman-Fried disclosed on May 12, 2022 that he had purchased a 7.6% stake in Robinhood's class A shares for $648 million. A liability is included to reflect the purchase price.

Bankman-Fried declined to comment on his net worth.

Biography

Birthdate: 3/6/1992
Family: Single, No children
Education: Massachusetts Institute of Technology

Sam Bankman-Fried was born in Stanford, California in 1992. His parents were both law professors at Stanford University.

He studied physics at Massachusetts Institute of Technology and became interested in effective altruism, a movement that encourages maximizing the resources one can contribute to philanthropy, and giving to causes that are most effective at doing good.

He decided to pursue trading after graduating rather than a career in academics and joined proprietary trading firm Jane Street where he dealt in international exchange traded funds.

Bankman-Fried left Jane Street in 2017 after three and a half years. He founded cryptocurrency trading firm Alameda Research with Google engineer Gary Wang. The company exploited arbitrage opportunities available in international cryptocurrency markets.

The following year the two founded cryptocurrency exchange FTX, which specialized in derivatives products. In July 2021, the firm raised $900 million in a series B funding round at an $18 billion valuation. Six months later its valuation had climbed to $32 billion, based on a January 2022 funding round.

Milestones
  • 1992 Born in Stanford, California.
  • 2014 Graduates from Massachsetts Institute of Technology with a degree in physics.
  • 2017 Founds Alameda Research, a cryptocurrency trading firm.
  • 2018 Founds FTX, a cryptocurrency derivatives exchange.