Alkalinum
Alkalinum t1_j3osveg wrote
Reply to comment by xbactery in FTX attempting to recover millions donated to charities. by imhergod
Bankman-Fried's brother runs a non-profit charity called Guarding Against Pandemics. He received more than $12.1 million from Alameda in the last two financial years (so may have received more before that as well). Sams' mother ran Mind the Gap a SuperPAC for the democrats, and $1 million was donated to it from Nishad Singh - FTXs' Director of Engineering. Sam had a 'mentor' who worked in Oxford university, and the mentor ran multiple charitable consultancy agencies, the consultancy agencies he owned were pledged about $25-30 million by FTX, and Oxford University was pledged another $10 million or so. Democrat Politicians got $40 million donated to them, and there were also separate donations to Democrat aligned PACs and non profits that seem to be easily upwards of another $50 million+. Sam said he had donated about $40 million to Republicans, although I don't see any specific mention of specific donations or political groups for that. An FTX executive Ryan Salame did donate $17 million to GOP aligned groups.
Someone seriously needs to investigate these non profit organizations. Every rich prick has founded at least one and I can guarantee it's not because of their bleeding hearts to help people. I'd love to see how much money ends up back in the pockets of the founders and 'charity workers' through wages and expenses.
Alkalinum t1_j3ov8ci wrote
Reply to comment by NarrowSalvo in FTX attempting to recover millions donated to charities. by imhergod
Some of the charities were indeed those sorts of charities keeping orphanages in India open, and it does feel really sour to say they have to refund the money, but much of the donations were to political charities and consulting charities - SBFs mum runs a Democrat superPAC that got $1 million, his brother runs a lobbying charity that received $12.1 million. Democrat politicians got $40 million, and Democrat interest groups got $10s of millions on top of that. Sam's 'Mentor' the leader of the Effective Altruism movement runs several non profit consultancies that got about $30 million, and Oxford university where he works was given about $10 million. I reckon all those organisations won't have too much difficulty raising the funds back to repay the people whose money was stolen.