New Biography of FTX Founder Sam Bankman-Fried Claims He Paid Tom Brady $55 Million for 20 Hours of Work

Declan Gallagher
·2 min read
5

Tom Brady was reportedly paid $55 million for just 20 hours of work across three years by disgraced FTX founder Sam Bankman-Fried.

The revelation came in a recent 60 Minutes interview with Moneyball author Michael Lewis. His new book, Going Infinite: The Rise and Fall of a New Tycoon, chronicles the spectacular rise and fall of Bankman-Fried. In order to pen the tome, out Tuesday, Lewis was given access to FTX’s financial records, which left no doubt as to how the company dissolved so quickly.

In addition to the $55 million he paid Brady for 20 hours of work across 36 months, Bankman-Fried paid the former QB’s then-wife Gisele Bündchen $19.8 million for 20 hours of work over three years. Brady and Bündchen’s responsibilities were more or less ambassadorships. Brady appeared at company event and in branded TikTok videos and commercials. Bündchen was—apparently—the head of FTX's environmental and social initiatives.

Lewis told 60 Minutes that he felt the relationship between Bankman-Fried and Brady was completely genuine, and not driven by Brady’s desire for a quick and easy payday. According to Lewis, the NFL legend thought the former crypto-king “was just a really interesting person.” The sentiment was returned by Bankman-Fried, who “really liked Tom Brady.

“Sam wasn't, like, a big sports person,” Lewis explained. “So it was funny to watch that interaction. It was like, ‘These two people actually get along.’ It's like the class nerd and the quarterback.…The nerd of all nerds. Like, even the nerds don't hang out with this nerd, he's such a nerd. The quarterback somehow likes him. And he somehow likes the quarterback.”

Amidst the financial records were evidence of other astonishing outlays of cash during FTX’s heyday. Steph Curry was reportedly paid $35 million for a three year contract for just a few hours of work, as well. Comedian Larry David reportedly made $10 million for starring in FTX’s Super Bowl commercial. Lewis also reported that Bankman-Fried dropped $100 million for the naming rights to the Miami Heat arena.

It's worth noting, however, that many of these celebrities (Brady included) are now the subject of a class action lawsuit, claiming they knew the company was not financially viable but agreed to endorse it anyway. These cases are ongoing.

Michael Lewis’ Going Infinite: The Rise and Fall of a New Tycoon is available today from Penguin Books.