Tom Brady Has Lost Another Whopping Sum of Money after $30 Million FTX Scandal
Former American football quarterback Tom Brady spent 22 seasons competing in the National Football League (NFL). He is regarded as one of the best quarterbacks in history, and spent 20 seasons with the New England Patriots, contributing to six Super Bowl victories. He later spent two seasons playing with the Tampa Bay Buccaneers, where he added another Super Bowl victory.
The NFL player has been in the news for some time now for reasons other than football, including his high-profile divorce from Brazilian supermodel Gisele Bundchen last year. He had been married to Bundchen for 13 long years. The amount of money the football player lost as a result of cryptocurrency was another incident that put him in the spotlight.
Due to FTX’s bankruptcy, Tom Brady suffered a $30 million loss
Tom Brady reportedly lost $30 million as a result of the failure of the cryptocurrency company FTX, according to sources. Brady bought $30 million in shares as part of an agreement with FTX in 2021, but the equity is now worthless.
In November 2022, FTX, the most well-known cryptocurrency exchange in the world, declared bankruptcy, and Sam Bankman-Fried, the organization’s former CEO, is being investigated for federal fraud. On top of financial losses, Brady also faces legal risk.
FTX investors who demand money from famous endorsers have filed a lawsuit against Brady and his former wife Gisele Bundchen. Shaquille O’Neal, Larry David, Naomi Osaka, and Stephen Curry are among the other stars included in the lawsuit who have promoted FTX.
Sadly, Brady experienced other financial setbacks as well. Once more, a new report has surfaced.
Tom Brady endured yet another significant financial setback
Tom Brady, a seven-time Super Bowl champion and retired NFL quarterback, is no stranger to financial success. His latest move into the non-fungible tokens (NFTs) space, nevertheless, has not been as successful. Brady made a substantial $430,000 investment in a Bored Ape NFT in April 2022. But the value of this digital asset has drastically declined; it is now only worth $168,250, which is a sixty percent decrease.
Recently, there has been a lot of volatility in the Bored Ape NFT market, with several NFT values falling. Brady’s financial situation has been significantly impacted by the crash of the FTX market and the drop in the value of NFTs.
Brady’s financial situation is still solid despite these difficulties. He has a significant broadcasting agreement with FOX, and he also gets paid for endorsements. Brady’s estimated net worth is between $270 to $300 million, and his prosperous football career has also contributed to his solid financial position.
Source: The Sports Rush
