Former FTX CEO Considered Offering Donald Trump $5 Billion to Prevent 2024 Run
According to Michael Lewis, the author of “The Big Short” and a new book on Sam Bankman-Fried, the former CEO of FTX, Bankman-Fried contemplated offering Donald Trump $5 billion to dissuade him from running for president again in 2024. Lewis revealed this information during an interview with CBS News’ 60 Minutes. Bankman-Fried saw Trump as a threat to democracy and believed that he should be considered an existential risk. The specific figure discussed for Trump’s withdrawal from the elections was $5 billion. However, the plan did not materialize because Bankman-Fried no longer had that amount of money after FTX collapsed in November 2022.
Sam Bankman-Fried’s Political Donations
Prior to the collapse of FTX, Bankman-Fried was a significant political donor, contributing over $70 million to election campaigns in less than 18 months. He personally donated at least $40 million to politicians and political action committees leading up to the 2022 midterm elections. While a substantial portion of his contributions went to Democrats and liberal-leaning organizations, he also made undisclosed “dark” donations to Republican causes. According to Open Secrets, “dark money” refers to spending meant to influence political outcomes where the source of the money is not disclosed. Overall, Bankman-Fried may have contributed around $80 million in total.
FTX’s Attempt to Retrieve Donations
FTX, now led by CEO John J. Ray III, has been trying to recover the donations made by Bankman-Fried and other FTX executives since last year. Bankman-Fried is currently facing eight counts of conspiracy and fraud charges, including an allegation of violating campaign finance laws. His trial is set to begin this week.
Hot Take: Bankman-Fried’s Controversial Plan
The revelation that Sam Bankman-Fried considered offering Donald Trump $5 billion to prevent him from running for president in 2024 highlights the extent of his political influence and the drastic measures he was willing to take. This plan, although it did not come to fruition, demonstrates Bankman-Fried’s concern for democracy and his determination to combat what he perceived as a threat. However, with FTX’s collapse and Bankman-Fried’s legal troubles, it remains to be seen how his political donations and actions will be viewed in hindsight.
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