Meet Sam Bankman-Fried, the 30-Year-Old Billionaire Once Richer Than Dangote, Now Wretched And Officially Poor .

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Sam Bankman-Fried has resigned as CEO of FTX as his crypto company declares bankruptcy A few months ago, Bankman-Fried was one of the world’s youngest billionaires and ranked among the top 100 richest men in the world Bankman-Fried’s wealth, in fact, was ranked richer than Aliko Dangote, Africa’s richest man.

Bankman-fried is now poor despite having a networth of over $16 billion a week ago. Credit: @backman Source: UGC .

From billionaire to zero balance

Bankman-Fried is no longer a billionaire or a millionaire after his cryptocurrency platform, FTX filed for bankruptcy.

His company’s bankruptcy announcement comes after Bankman-Fried left his post as CEO, and he is currently worth zero and his name removed from both Forbes and Bloomberg rich list. A few months ago, Bankman-Fried’s fortune grew to more than $26 billion, and his company, FTX’s worth up to $32 billion at the end of last year.

However, the last few weeks have seen the value of cryptocurrency plunge heavily by more than 20% whipping off billions from investors’ accounts. Bankman-Fried reacts Bankman-Fried posted an update on his Twitter feed, which reads: “This doesn’t necessarily have to mean the end for the companies or their ability to provide value and funds to their customers chiefly, and can be consistent with other routes.

About Chiemerie William Eziokwu 313 Articles
Eziokwu Chiemerie William 9News Nigeria's Social Media Strategist / iReporter

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