Shark Tank star Kevin O’Leary, aka Mr. Great, has revealed that the collapsed crypto alternate FTX paid him about $15 million to turn into its spokesperson. “I put about $9.7 million into crypto. I feel that’s what I misplaced. I don’t know. It’s all at zero,” O’Leary mentioned.
Kevin O’Leary Was Paid $15M by FTX
Shark Tank star Kevin O’Leary revealed in an interview with CNBC Thursday that the collapsed crypto alternate FTX paid him about $15 million final yr to turn into its spokesperson.
Noting that he fell prey to “groupthink,” O’Leary detailed:
Complete deal was slightly below $15 million, all in … I put about $9.7 million into crypto. I feel that’s what I misplaced. I don’t know. It’s all at zero.
The Shark Tank star additional revealed that he additionally had over $1 million of FTX fairness, which is now rendered nugatory because of the chapter safety course of. As well as, Mr. Great defined that the steadiness of a bit of over $4 million was purportedly eaten up by taxation and agent charges. He admitted:
It was not a great funding.
FTX filed for chapter on Nov. 11 and Sam Bankman-Fried (SBF) stepped down because the CEO. The corporate is now being investigated for mishandling buyer funds. FTX’s new CEO, John Ray, advised the chapter courtroom: “By no means in my profession have I seen such a whole failure of company controls and such a whole absence of reliable monetary info as occurred right here.”
Regardless of stating that he misplaced thousands and thousands of {dollars} within the FTX collapse, O’Leary has insisted that Bankman-Fried is among the greatest merchants within the crypto area and that he would again him once more if he has one other enterprise. This has shocked the crypto trade since most individuals imagine that Bankman-Fried is a fraud and a conman. Some have in contrast the FTX meltdown to Bernie Madoff’s Ponzi scheme.
Bankman-Fried has insisted that he didn’t knowingly commit fraud. Like O’Leary, billionaire hedge fund supervisor Invoice Ackman equally mentioned he believes SBF was telling the reality. Mr. Great additionally not too long ago revealed that he nearly secured $8 billion to save lots of FTX earlier than it collapsed and needed to file for chapter.
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