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I am 100% sure he must have siphoned off some sizable part of his net worth in cash or other non-crypto assets.
by mayankkaizen 4y ago
I am 100% sure he must have siphoned off some sizable part of his net worth in cash or other non-crypto assets.
- onlyrealcuzzo 4y agoSeveral million dollars is a lot of money - but not sizable compared to $16B. If he siphoned off even 1% ($160M+)- you can bet he's going to lose it in bankruptcy proceedings.
- systemicdanna 4y ago10-20% is not $160M+, it's $1.6B+.
- meetingthrower 4y ago10% is $1.6B. Only needs 1% for $160M. .1% for $16M. Which is still generationally rich. Yeah, I think he would have taken that out right?
- sgt101 4y agoHe will have worked with some accountants and lawyers to move money into untouchable places. There will be someone employed to hold it for him, and dole it out in the future. Sure he will have to keep a low profile, but there will be resources. He will probably have dispersed quite some sums to friends and family, some of that will come back to him in one way or another. Finally, he will be able to go on the celebrity speaking circuit for quite a while...
- AndreLock 4y agoSBF personally owns a 7.6% stake in Robinhood worth ~$700m at the current price.
- AndreLock 4y agoI stand corrected on this point. Bloomberg is reporting that SBF's Robinhood stake was apparently held through Alameda and may have been used as collateral for loans.