Tom Brady and his ex-wife Gisele Bündchen lost a combined 1.7 million shares once worth more than $150 million when the cryptocurrency exchange FTX collapsed late last year, RadarOnline.com has learned.
In a shocking development to come two months after FTX Trading filed for Chapter 11 bankruptcy on November 11, a 68-page document listing the company’s numerous investors and shareholders was released on Monday.
Included in that list were hundreds of individuals such as Brady and Bündchen who hold a majority of shares in the now-defunct and bankrupt FTX.
According to the newly released document, Brady holds a whopping 1.1 million common shares which, at their peak, were worth $93 million.
Bündchen holds more than 680,000 shares in FTX Trading which, also at their peak, were once worth a substantial $57 million.
Although shares were once trading at $80 during the company’s peak in September 2021, one share is now valued at only $0.92.
Under United States law, shareholders are the last party to be repaid after a company declares bankruptcy – meaning it is unlikely Brady and Bündchen recover anything close to the $150 million their 1.7 million shares were once valued.
As RadarOnline.com previously reported, Brady and Bündchen are also named as defendants in a lawsuit filed against FTX’s embattled founder, Sam Bankman-Fried, and a number of high-profile A-listers who backed the once cryptocurrency exchange giant.
Edwin Garrison, who filed the lawsuit shortly after FTX’s bankruptcy in November, claims Brady, Bündchen and other celebrities used deceptive practices to push the “scheme.”
“Part of the scheme employed by the FTX Entities involved utilizing some of the biggest names in sports and entertainment,” the November lawsuit read, “pouring billions of dollars into the Deceptive FTX Platform to keep the whole scheme afloat.”
Although neither Brady nor Bündchen have publicly discussed their involvement with FTX and their millions of now nearly worthless shares in the company, the NFL quarterback star was caught scrubbing any mention of FTX from his social media accounts shortly after the company’s downfall.
Bankman-Fried, who was arrested on December 12 over allegations he lied to investors and committed fraud, spoke out before his arrest to express his regret for filing for bankruptcy.
“It sucks,” the 30-year-old alleged conman said on Twitter days before he was taken into custody. “I’m really sorry that things ended up as they did.”