Gisele Bündchen and Tom Brady to Leave FTX Participation

Less than a year after Tom Brady and Gisele Bündchen appeared in a series of Super Bowl ads for FTX, the former couple has emerged as one of the biggest shareholders in the now bankrupt company.

Brady owns 1.1 million shares of FTX common stock, while Bundchen owns 686,000 shares, according to bankruptcy court documents filed on Monday.

At its peak, privately held FTX was valued at around $32 billion.

Whatever amount Brady and Bundchen paid for their holdings, they, with hundreds of other investors, will almost certainly see their positions completely wiped out. (The court documents did not reveal how much investors paid for their shares or detail when they were acquired.)

When companies go bankrupt, shareholders are often last in line to recover the funds. US bankruptcy laws stipulate that creditors – in FTX’s case, customers who deposited money on the platform – be repaid first.

A rep for the pair, who divorced in October, did not immediately respond to a request for comment.

His role in raising the FTX is already under legal scrutiny. Shortly after the FTX collapsed, a client filed a class action lawsuit against FTX founder Sam Bankman-Fried, along with Brady, Bundchen, and several other celebrity sponsors.

The case, filed by top lawyers Adam Moskowitz and David Boies, argues that FTX was “a massive Ponzi scheme” and that the leaders behind it were “geniuses in public relations and marketing”.

When the crypto platform collapsed in mid-November, Bankman-Fried and others were replaced at the helm by restructuring experts who are overseeing the bankruptcy of FTX and dozens of affiliates.

“Ultimately, we’re not going to be able to recover all the losses here,” the company’s new CEO, John Ray III, told a congressional committee last month.

Bankman-Fried pleaded not guilty last week to eight federal counts of wire fraud, conspiracy and campaign finance violations.

Federal prosecutors accuse the 30-year-old businessman, once a celebrity in crypto circles, of stealing funds from FTX clients to cover huge losses at his hedge fund, Alameda. They also say he used the funds to underwrite a luxurious lifestyle for himself and his employees.