Quote from: Herman post_id=480631 time=1668042371 user_id=3396
Election night may have been rough for quite a few Democrat politicians, but perhaps none so much as their benefactor, Sam Bankman-Fried. Once touted as the "next Warren Buffett," Friedman managed to lose nearly 94% of his estimated $15.6 billion fortune on Election Day.



Extra to losing the supermajority of his Democratic Party slush fund, the 30-year-old also announced on Nov. 8 that his crypto exchange FTX was being sold to a rival firm to remedy a liquidity crunch.



Bankman-Fried founded the Bahamas-based crypto exchange FTX in 2019.



Investors valued the company at $18 billion in 2021. A year later, its value, coupled with its U.S. operations, had a combined value of $40 billion.



With a growing company and unchecked confidence, Bankman-Fried determined he would help reshape the American political landscape or at the very least bolster the Democrat status quo.



According to Politico, Bankman-Fried was the Democrats' "newest megadonor" ahead of the 2022 midterm elections. He donated $10 million to then-candidate Joe Biden in 2020.



This past year, he reportedly hired a network of "political operatives" and spent at least $39,826,856 in an effort to help Democrats win their House races.



The now-former FTX CEO was the second-biggest individual Democratic donor this election cycle, after leftist billionaire George Soros, according to a Fox Business report.



Bankman-Fried told Jacob Goldstein of "What's Your Problem?" that he might donate "north of $100 million" and up to $1 billion to Democrats in the 2024 presidential elections.