Effective Altruism: Former FTX CEO’s Alleged $40M Penthouse Listed for Sale, Report Says Firm Spent $74M on Real Estate
In light of a recently published real estate listing, former FTX CEO Sam Bankman-Fried (SBF) is reportedly selling a 12,000-square-foot penthouse in the Bahamas for $39.9 million. Moreover, reports further detail that FTX Property Holdings spent roughly $74 million on real estate purchases in the surrounding Albany Bahamas oceanside district.
Bahama Mansion Called the ‘Orchid Building’ Listed for Close to $40 Million
This past weekend, the web portal seasidebahamas.com published a real estate listing that’s reportedly tied to the former FTX CEO Sam Bankman-Fried (SBF). The property dubbed the âOrchid Building,â is located on a 600-acre oceanside resort community called Albany Bahamas or Albany Resort.
The asking price for the 12,000-square-foot penthouse is roughly $39.9 million, according to the listing, and the so-called effective altruist SBFâs maintenance fees for the home are around $21,000. SBFâs penthouse listing made waves on Twitter when it was shared by the Twitter account dubbed âAutism Capital.â
A large portion of the commenters on Autism Capitalâs thread mentioned SBFâs so-called altruistic nature he boasted about on a regular basis. âEffective altruism housing,â one person mocked in the Twitter thread. âThat mansion screams effective altruism,â another person wrote.
Report Says FTX Property Holdings Spent $74 Million on Real Estate in the Bahamas, FTX Purchased Real Estate in Tokyo, Miamiâs Brickell Financial District
In addition to the Albany district mansion, a report published by The Block indicates that FTX allegedly spent $74 million on real estate purchases in the Bahamas. Reporters Kollen Post and Frank Chaparro witnessed documents that show âFTX Property Holdings spent $74,230,193 on property in the Bahamas over 2022.â
if people like new office videos..
about a month out from moving into our new Tokyo office pic.twitter.com/o3bGbqxKtr
— FTX (@FTX_Official) November 7, 2022
The report further details that $67.4 million went to properties in the Albany Bahamas district. In addition to Albany properties, the report says SBF purchased a condo at One Cable Beach for $2 million. FTXâs subsidiary FTX Property Holdings is mentioned in the companyâs bankruptcy protection filing registered in Delaware.
FTX also purchased real-estate in Miami Florida as reports detail that FTX was building a âpermanent space with capacity for 16 to 18 employees.â The FTX office was located in Miamiâs Brickell financial district and the company also shared a video of a new Tokyo office on Nov. 7, 2022, days before its bankruptcy filing.
What do you think about the real-estate purchases FTX Property Holdings reportedly made during the last few years? Let us know what you think about this subject in the comments section below.