(Photo credit score: Nathan Ray Seebeck-USA TODAY Sports)
Tom Brady misplaced thousands and thousands within the collapse of cryptocurrency firm FTX, for which he served as an “ambassador,’ The New York Times reported Friday.
Under an settlement the retired NFL quarterback made with FTX in 2021, he acquired $30 million in now-worthless stock for his work pitching the corporate in tv advertisements and at its convention. In step with him on the time was his then-wife, Gisele Bundchen, who acquired $18 million in stock, per the report.
FTX filed for chapter final November. Its former CEO, Sam Bankman-Fried, is going through federal fraud-related costs.
And Brady, who received seven Super Bowl titles in his profession, additionally faces authorized peril on prime of the monetary losses. Both Brady and Bundchen, who formally divorced final October, are being sued by FTX traders who need reimbursement from superstar endorsers. Basketball Hall of Fame member Shaquille O’Neal additionally has been sued within the FTX case, as have Larry David of “Seinfeld” fame, tennis participant Naomi Osaka and Stephen Curry of the Golden State Warriors.
“None of these defendants performed any due diligence prior to marketing these FTX products to the public,” in line with the lawsuit, obtained by the Times. It was filed in federal courtroom in Florida.
Before the collapse of FTX, it was valued at $32 billion, together with $48 million in shares held by Brady and Bundchen, per the Times. Now, it has no worth.
Brady, 45, ranked No. 50 on Forbes’ 2023 listing of the World’s Highest-Paid Athletes with earnings of $45.2 million in soccer wage and endorsements.
–Field Level Media