Effective Altruism: Former FTX CEO’s Alleged $40M Penthouse Listed for Sale, Report Says Firm Spent $74M on Real Estate

In light of a recently published real estate listing, former FTX CEO Sam Bankman-Fried (SBF) is reportedly selling a 12,000-square-foot penthouse in the Bahamas for $39.9 million. Moreover, reports further detail that FTX Property Holdings spent roughly $74 million on real estate purchases in the surrounding Albany Bahamas oceanside district.

Bahama Mansion Called the ‘Orchid Building’ Listed for Close to $40 Million

This past weekend, the web portal seasidebahamas.com published a real estate listing that’s reportedly tied to the former FTX CEO Sam Bankman-Fried (SBF). The property dubbed the “Orchid Building,” is located on a 600-acre oceanside resort community called Albany Bahamas or Albany Resort.

The asking price for the 12,000-square-foot penthouse is roughly $39.9 million, according to the listing, and the so-called effective altruist SBF’s maintenance fees for the home are around $21,000. SBF’s penthouse listing made waves on Twitter when it was shared by the Twitter account dubbed “Autism Capital.”

Effective Altruism: Former FTX CEO's Alleged $40M Penthouse Listed for Sale, Report Says Firm Spent $74M on Real Estate

A large portion of the commenters on Autism Capital’s thread mentioned SBF’s so-called altruistic nature he boasted about on a regular basis. “Effective altruism housing,” one person mocked in the Twitter thread. “That mansion screams effective altruism,” another person wrote.

Report Says FTX Property Holdings Spent $74 Million on Real Estate in the Bahamas, FTX Purchased Real Estate in Tokyo, Miami’s Brickell Financial District

In addition to the Albany district mansion, a report published by The Block indicates that FTX allegedly spent $74 million on real estate purchases in the Bahamas. Reporters Kollen Post and Frank Chaparro witnessed documents that show “FTX Property Holdings spent $74,230,193 on property in the Bahamas over 2022.”

The report further details that $67.4 million went to properties in the Albany Bahamas district. In addition to Albany properties, the report says SBF purchased a condo at One Cable Beach for $2 million. FTX’s subsidiary FTX Property Holdings is mentioned in the company’s bankruptcy protection filing registered in Delaware.

FTX also purchased real-estate in Miami Florida as reports detail that FTX was building a “permanent space with capacity for 16 to 18 employees.” The FTX office was located in Miami’s Brickell financial district and the company also shared a video of a new Tokyo office on Nov. 7, 2022, days before its bankruptcy filing.

What do you think about the real-estate purchases FTX Property Holdings reportedly made during the last few years? Let us know what you think about this subject in the comments section below.

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