Journalist commends Taylor Swift rejecting $100,000,000 FTX deal, grills Tom Brady and others for endorsing crypto ‘scam’
Tom Brady and Taylor Swift are well-known to fans in two different worlds but they almost could have been involved in a venture together. As it turns out, Swift was initially offered to be a part of the cryptocurrency exchange FTX, but the pop star turned down the deal.
In April, the broken-down deal between Swift and then-CEO Sam Bankman-Fried’s cryptocurrency exchange made headlines.
Adam Moskowitz, the attorney for customers who were bringing a lawsuit against the company's celebrity endorsers like Brady, said he uncovered the fact that Swift turned down a sponsorship deal with FTX due to her questions about whether the company dealt in unregistered securities.
While on a podcast, Moskowitz said he learned that Swift rejected a $100 million sponsorship deal with FTX owing to questions about the company's legalities.
In the meantime, Tom Brady and his now ex-wife, supermodel Gisele Bundchen, became ambassadors for FTX and reportedly had shares in the company.
Eventually, FTX filed for Chapter 11 bankruptcy last November. The company owed money to almost one million creditors, revealing a massive billion-dollar deficit in client holdings.
More recently, earlier this week, Bankman-Fried was found guilty of taking money from customers in what is one of the biggest financial frauds in recent memory. A Manhattan federal court convicted him on all seven counts he faced after a month-long trial in which prosecutors argued that he took $8 billion from FTX users.
Tom Brady's FTX investment in the spotlight: How much did NFL legend lose?
According to a New York Times report, the deal that Tom Brady made was worth $30 million in now-worthless stock for his work with the company in television ads. Bundchen received $18 million in stock in the same deal.
The stock was worth $32 billion before the company's bankruptcy filing per the Times. This included the $48 million in shares held by Brady and Bundchen.
What is Tom Brady's net worth in 2023?
Tom Brady holds a net worth of nearly $300 million in 2023 despite the FTX ordeal.
The seven-time Super Bowl champion bought an ownership stake in the Las Vegas Raiders earlier this year, along with a similar piece of the Las Vegas Aces. It was reported that it was between 5-10 percent as the Raiders are valued at $6.2 billion per Forbes.
Brady will also join Fox Sports next year after signing a 10-year, $375 million deal last May, a deal that is sure to boost his net worth in the years to come.
What is Taylor Swift's net worth in 2023?
The 12-time Grammy winner has been a prominent figure at NFL games thanks to her relationship with All-Pro tight end Travis Kelce. She's attended multiple Chiefs games over the last month.
According to Business Insider, she holds a net worth of $1.1 billion.