This may be a time for celebration for legendary NFL quarterback Tom Brady after he announced his retirement from the league earlier this month, but a recent report detailing some of his off-the-field business troubles have gotten him a little bit of negative attention. We knew Brady was interested in crypto and suffered massive financial losses due to the FTX crypto exchange collapse that are likely irrecoverable. We also knew that he was part of a lawsuit surrounding the collapse. But now, it looks like Brady and his former wife Gisele Bündchen were simply victims in the whole ordeal.
The Financial Times released a report this week detailing the FTX collapse and its network of star shareholders. As part of that report, the Financial Times spoke to an anonymous former employee who revealed that Tom Brady and Gisele collectively lost more than $84 million in the FTX collapse as Brady’s stake was worth $53 million and Gisele’s was worth $32 million at its peak.
“People wanted shares. There was some FOMO but people always saw financials,” the employee said, adding that Brady and Bündchen’s team were “extremely diligent… they saw what they believed were legit financials.”
Unfortunately for Brady and Gisele, there were underlying issues with the company that their advisors did not see, and it ultimately cost them millions when FTX went bankrupt. It’s horrible news for the former couple, and the NFL world had plenty to say about it.
It’s certainly a tough situation for the former couple.
[Financial Times]
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