Crypto tycoon's 94% fortune drop is the biggest ever one-day collapse

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Crypto tycoon's 94% fortune drop is the biggest ever one-day collapse
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Crypto tycoon Sam Bankman-Fried lost 94% of his fortune overnight, marking the biggest one-day wealth collapse among billionaires on record

that his crypto exchange FTX is being sold to rival firm Binance in order to relieve a severe liquidity crunch. Bankman-Fried's 53% stake in FTX was worth $6.2 billion, while another $7.4 billion of his fortune came from his crypto trading house, Alameda Research, Bloomberg reported.

Sudden losses of this magnitude are common among the world's richest people, but never has a billionaire parted ways with such a gigantic proportion of their fortune within one day. Meta founder Mark ZuckerbergIn November 2021, Tesla CEO Elon Musk

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