--- title: "Sam Bankman-Fried Reportedly Lived in Astonishing Opulence" description: "SBF reportedly used FTX money to support a lavish lifestyle for himself and his inner circle, spending tens of millions on luxury housing, hotels, and food." date: "2023-01-10" modified: "2023-01-10" authors: - name: "Maggie Harrison Dupré" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/mharrison" url: "https://futurism.com/the-byte/sam-bankman-fried-opulence" categories: - "Blockchain" - "Future Society" tags: - "crypto" - "ftx" - "sam bankman-fried" - "the digest" --- # Sam Bankman-Fried Reportedly Lived in Astonishing Opulence ![SBF reportedly used FTX money to support a lavish lifestyle for himself and his inner circle, spending tens of millions on luxury housing, hotels, and food.]() *\Image: Getty Images/Futurism\* ## Livin' Large Sam Bankman-Fried, the [disgraced former CEO]() of the now-bankrupt cryptocurrency exchange FTX, claimed that he wanted to make billions — or maybe [even trillions]() — so that he could give it all away. In fact, [as he told *Bloomberg* back in April](), he only planned to keep one percent of his personal wealth, eventually giving the rest away to worthy causes. "You pretty quickly run out of really effective ways to make yourself happier by spending money," the 29-year-old crypto crusader, who's [currently facing US criminal charges]() related to [fraud and embezzlement](), explained to *Bloomberg* at the time. "I don't want a yacht." Regardless of whether SBF actually had a big boat — [some reports]() are now claiming that he actually did have a 52-foot yacht — it's starting to seem like s0-called "effective altruism" *really* wasn't his top priority. According to new bankruptcy court filings [reviewed by *Insider*,]() SBF used FTX money to support an incredibly lavish lifestyle for himself and those in his inner circle, spending upwards of $40 million on ultra-luxurious living arrangements, food, and hotels in *just nine months* *alone*. You know, for the good of the people. ## Check Please Some $5.8 million of that $40 million figure was reportedly spent renting an opulent Bahamian penthouse — in which SBF reportedly lived with several roommates, some of whom [he may have been romantically involved with]() — at the oceanfront Albany Resort, a hotel featuring its own yacht marina and golf course. Elsewhere, $3.6 million was dropped on rooms at the Bahamas' four-star Grand Hyatt, while $800,000 was spent at the five-star Rosewood hotel. Another $6.9 million was reportedly spent on "meals and entertainment," a rough $2.4 million of which was spent on catering services. While it's unclear where the rest of that meal budget went, [*Fox Business* previously alleged]() that SBF was a fan of a spot called the Nassau Bistro, where he'd regularly spend several thousands on lunch. (It's worth noting that Alameda Research, an FTX-tied and also bankrupt crypto hedge fund, [owes a good $50k+ to Jimmy Buffet's Margaritaville]().) Of course, considering that [SBF admitted]() that the "ethics stuff" was "mostly a front" pretty shortly after FTX's collapse, it's not exactly surprising to see his money go literally anywhere but where his mouth was. FTX may not have been a [force for good]() — but at least for a while, it was certainly a force for its execs to live the good life. **READ MORE:** *[FTX spent nearly $7 million on food and over $15 million on luxury Bahamian hotels in just 9 months, court documents show]()* \[*Insider*\] **More on FTX:** *[FTX's New CEO Says Company Did "Old Fashioned Embezzlement"]()* ## Author At Futurism, I've reported extensively on the rise of AI as a cultural and business force shaping the media industry, and more broadly how those dynamics are changing how we all consume and share information and relate to one another. I'm also fascinated by public health policy and ethics, the role of emerging tech in politics and governance — and the powerful people and forces at those intersections — climate change, and the environment. My investigation on Sports Illustrated's use of AI-generated authors with fictional biographies won a 2024 Mirror Award for "Best Story on Media Coverage of Artificial Intelligence in Journalism and the Media" from Syracuse University's SI Newhouse School, I contributed to Niemen Lab's 2025 Predictions for Journalism series, and I've discussed my work for Futurism during appearances on NPR, CNN, the BBC, the CBC, and more. I grew up in rural Pennsylvania and attended the University of Massachusetts Amherst, where I played Division I field hockey for the Minutewomen as a midfielder. Since then, I've lived in New Orleans, Louisiana and Manhattan, New York. I spend my free time running, reading, perusing archival fashion, and searching for the world’s best negroni. I also have a debonair tuxedo cat, Westley, who's named after "The Princess Bride." ### Author social links [Bluesky]()