SBF And Relatives Own Property Worth $121M In The Bahamas

  • Sam Bankman-Fried And Relatives Own A Huge Property Worth $121M In The Bahamas
  • The assets include opulent beachfront mansions.
  • FTX has made measures to separate itself from Bankman-Fried

Sam Bankman-Fried’s insolvent business FTX, his parents, and key colleagues purchased at least 19 homes in the Bahamas. This is approximately over the previous two years for close to US$121 million, according to an exclusive REUTERS report

The assets include opulent beachfront mansions, including seven condos in the pricey resort neighborhood of Albany, which cost close to US$72 million.

Previously, Bankman-Fried told Reuters that he shared a residence with nine other coworkers. He said that FTX offered free meals and an “in-house Uber-like” transportation service for its staff members throughout the island.

Reuters looked through the Bahamas Registrar General’s Department’s property records to find information on FTX, Bankman-Fried, his parents, and some of the company’s top executives. 

In 2021 and 2022, FTX Property Holdings Ltd., a division of FTX, acquired 15 properties for around $100 million USD. The $30 million penthouse at the Albany, a resort where Tiger Woods annually organizes a golf event, was the company’s most costly acquisition. 

At the moment, the FTX headquarters are vacant, with furniture shoved up against several windows. Its signs have been taken down. The 4.5 million dollar tract of property is also vacant.

Bankman-Fried, the three recently sacked members of his inner circle, and their families will not get any compensation from the now-bankrupt firm, FTX stated in a court statement over the weekend. 

The way Bankman-Fried put it on November 10, the day before FTX filed for bankruptcy and he resigned as CEO, making users whole comes first. “After that, investors, old and new, and employees who have fought for what’s right in their career, and who weren’t responsible for any of the fuck ups,” he wrote on Twitter

He was still the company’s CEO at the time, and the bankruptcy filing had not yet been made public.

Since then, FTX has made measures to separate itself from Bankman-Fried. Regulators in the Bahamas initially denied, then admitted, that they had instructed staff to move hundreds of millions of dollars in illicit transactions on November 11, the same day the business filed for Chapter 11 protection.

disclaimer read more

Crypto News Land ( , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

programmer & freelance writer