‘Shark Tank’ star says M payout from FTX was wiped out: ‘It’s all at zero’

‘Shark Tank’ star says $15M payout from FTX was wiped out: ‘It’s all at zero’

“Shark Tank” star Kevin O’Leary mentioned that FTX paid him $15 million to be the corporate’s spokesman however he misplaced practically all of it when the crypto trade went bust.

In an interview with CNBC on Thursday, O’Leary mentioned he put about $9.7 million of his spokesman test into crypto tokens together with his FTX account, which has dropped to zero after the trade collapsed final month. 

He had $1 million tied up in FTX fairness, which is also now nugatory. O’Leary mentioned the remaining $4 million from the deal went to taxation and agent charges. 

“The overall deal was slightly below $15 million all in — It’s all at zero,” he mentioned. “It was not a great funding. 

The person generally known as “Mr. Great” advised CNBC that he spoke to former FTX CEO Sam Bankman-Fried final weekend about his lacking funds.

“All of us appear to be idiots. We relied on one another’s due diligence,” he mentioned. SALT NY

O’Leary mentioned he advised the disgraced crypto tycoon, “Look Sam, I’m only one investor, however my account has a zero in it, and there are not any accounting data. The place did the cash go? I would like to seek out the place the cash went.”

O’Leary admitted that he fell into the “groupthink” pitfall, consuming the Kool-Support on institutional buyers’ frenzy to get in on crypto exchanges. 

“All of us appear to be idiots. We relied on one another’s due diligence,” he mentioned. 

O’Leary admitted it was a poor funding he made.CNBC

Regardless of dropping thousands and thousands of his personal cash, the billionaire has stopped in need of condemning Bankman-Fried in a authorized sense, saying that he’s ready for a full audit of the corporate earlier than anyone can name the FTX founder responsible of something. 

FTX filed for chapter on Nov. 11. In a single current interview, Bankman-Fried claimed to have “misaccounted” a whopping $8 billion on FTX’s steadiness sheet simply earlier than it imploded.

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