Did Tom Brady lose money after FTX fraud? Exploring 7-time Super Bowl winner's financial situation

Tom Brady, a former quarterback for the New England Patriots, was one of many celebrities and sports figures who participated in promoting the cryptocurrency firm FTX in 2022. However, FTX collapsed in the autumn and declared bankruptcy, and their CEO Sam Bankman-Fried is being investigated for fraud.

Two years ago, NFL GOAT Brady and his ex-wife Giselle Bündchen started advertising for FTX via commercials, social media videos and other campaigns. There are recent reports that the seven-time Super Bowl winner received $55 million as part of his contract with the now-insolvent FTX, with most of that sum coming as FTX shares.

According to reports, Steph Curry of the NBA's Golden State Warriors received $35 million for FTX endorsement.

All FTX Investments are now worth nothing due to the company's bankruptcy and Bankman-Fried's allegations of fraud, though.

Sam Bankman-Fried, who established the business, was charged in Dec. 2022 with two charges of wire fraud and six charges of conspiracy for unlawfully diverting customer funds to pay off debts owed by his hedge fund and misleading shareholders about FTX's financial situation.

Forbes estimated that Bündchen's stake was valued at roughly $25 million, while Brady's was around about $45 million. According to Forbes, "during usual bankruptcy filings, only bond holders have a chance to recover some of their losses, while those who invest in stocks typically get wiped out."

Robert Kraft, CEO of the Kraft Group and owner of the New England Patriots, and Canadian television personality Kevin O'Leary are just two of the other well-known people who have been identified as FTX shareholders.

O'Leary admitted to CNBC last year that he completely lost the $15 million that FTX had paid him to serve as the exchange's ambassador.

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What is Tom Brady's net worth in 2023?

Tom Brady's estimated net worth in 2023 is a staggering $287.5 million, according to Celebrity Net Worth. That's mostly due to his earnings during his time playing in the NFL as well as from sponsorships, financial investments and other business endeavors.

The seven-time Super Bowl champion reportedly agreed to a hefty $375 million 10-year contract with Fox Sports to serve as the network's primary in-studio NFL analyst last year.

As Tom Brady has now formally retired from football, he will increase his wealth by $37.5 million every year starting in 2024.