Oil tycoon Robert Belfer lost a fortune with Enron, Madoff and FTX

A New York oil baron who lost billions in the collapse of Enron and who also invested tens of millions in Bernie Madoff’s Ponzi scheme has also taken a hit in the implosion of Sam Bankman-Fried’s cryptocurrency exchange FTX, according to a report.

Robert Belfer, 87, whose family has made several philanthropic donations to institutions like the Metropolitan Museum of Art as well as Harvard University and Yeshiva University, was listed in court documents as a shareholder of FTX, according to the Financial Times.

The documents show that Belfer Investment Partners and Lime Partners LLC, two firms linked to the family business, held shares in FTX and its US subsidiary, FTX US.

The two entities held a combined stake of $34.5 million as of early last year when they participated in an equity fundraising round, according to court documents cited by Financial Times.

The Belfers have declined to comment publicly on the matter.

The Belfers were also invested heavily with convicted fraudster Bernie Madoff.
Getty Images for Lincoln Center

The Belfer family joins other wealthy celebrities such as New England Patriots owner Robert Kraft; superstar quarterback Tom Brady; Brady’s supermodel ex-wife, Gisele Bündchen; and others.

Brady owns 1.1 million common shares of FTX, a privately held company, while Bündchen owns 686,000 shares, according to filings. It is unclear how much money they paid for their shares.

Brady, Bündchen, and…

Read more…

Leave a Reply

Your email address will not be published. Required fields are marked *