270
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 16 Mar 2024
270 points (98.6% liked)
Technology
59312 readers
4833 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
How did he become a billionaire? From what I've heard his parents were connected and well-off, but not billionaires. And he doesn't seem old enough to have made billions on his own before FTX. If he only became a billionaire by temporarily scamming people, I don't think that counts.
He was supposed to have made his money before FTX by doing crypto currency arbitrage, but people have gone back and done the maths and his supposed profits were mathematically impossible (or just exceedingly improbable). The fact that his crime here was investors money went straight into a slush fund for his and his friends personal use suggested he didn't make that much money first either.