Few, if any, public figures seem to have taken more joy in the public shaming of Sam Bankman-Fried, the ex-CEO of FTX, than the new owner of TWo.
Musk has used his newly purchased social site to post bizarre FTX meme, applaud himself for recognizing SBF's apparent bullshit from day one, and accuse The New York Times of downplaying SBF's alleged criminality.
"Everyone was talking about him like he's walking on water and has a lot of money," Musk said in a conversation on Nov 12. I didn't think that the dude is just, there's something wrong, and he doesn't have capital, and he won't come through. That was what I thought would happen.
Musk was correct if that was his prediction. Bankman- Fried lost most of his wealth in one day.
Musk has left out one important piece of information: that Bankman-Fried was an investor in Musk'sTwitter deal, and that Musk personally invited the FTX founder.
SBF, who Musk has been shooting at left and right, is actually the CEO's partner at the micro-blogging site.
The relationship goes back at least as far as March when William MacAskill told Musk that a "joint effort" was possible. MacAskill promised Musk that the FTX CEO would contribute $3 billion towards a takeover of the site. Later, a bigwig from Morgan Stanley would text his client that SBF was willing to pay a lot of money
This part of the story was well known. The messages were revealed during Musk's court battle to back out of his offer to buy the social networking site. After speaking to Musk on the phone, SBF decided not to invest in the platform, according to a report.
I didn't know of him. A lot of people told me that he has a lot of money that he wants to invest in theTwitter deal. He told his users that he talked to him for about an hour. My bulls**t meter was redlining. I thought this guy is bulls**t.
The court never revealed that Musk had circled back to SBF just two weeks before the agreement was signed. The CEO of the electric car company reached out to SBF just before midnight, asking that he donate his $100 million stake to the micro-blogging site. That's a major chunk of company control to offer to someone who causes your "bullsh**t meter" to "redline," but alas: an FTX balance sheet prepared and distributed to investors after the Musk acquisition was reported.
It's worth mentioning that FTX's demise was due to its financial vulnerabilities being exposed by its rival, which contributed an extra $500 million towards Musk's acquisition. The founder of the company, Changpeng "CZ" Zhao, might have known of SBF's involvement in the deal.
One person definitely did and that person is Musk. Considering the narrative he's been pushing, he has a lot of explaining to do, and unfortunately for him, a crude meme of rhinos isn't going to help.
Sam Bankman- Fried, and a secret text.
Sam Bankman- Fried's lawyers quit because of his "incessant and disruptive" social media use.
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