THE LUXE LIFE

FTX’s Incredible Bahamas Real-Estate Buying Spree

Sam Bankman-Fried’s company, his professor parents, and his executives splashed out on $121 million worth of property over two years.

Sam Bankman-Fried’s bankrupt cryptocurrency exchange FTX bought $72 million worth of luxury property in the Bahamas, mostly for use by “key personnel,” over the last two years, Reuters reports. In addition, the disgraced finance whiz kid’s parents, who are Stanford Law professors, bought what was a described in documents as a vacation home in an exclusive gated community in the island nation where FTX had its headquarters. A spokesperson for Joseph Bankman and Barbara Fried told Reuters that “since before the bankruptcy proceedings, Mr. Bankman and Ms. Fried have been seeking to return the deed to the company and are awaiting further instructions”—suggesting that perhaps the property was purchased with FTX resources. In addition, FTX executives also bought millions in property in the Bahamas before the company imploded, sparking a criminal investigation.