Both Tom Brady and Stephen Curry have received big salaries throughout their careers. However, the sum FTX paid the two seems absolutely absurd to the average person.
Brady and Curry both served as brand ambassadors for Sam Bankman-Fried’s now-defunct FTX bitcoin exchange. Additionally, a class action lawsuit was filed against them both for their role in the company’s promotion.
Michael Lewis, a renowned author and journalist, recently disclosed the compensation Curry and Brady received for endorsing FTX. On Sunday, Lewis went on “60 Minutes” to discuss his book about disgraced FTX founder Bankman-Fried.
The director of “Moneyball” and “The Blind Side” claimed to have been Bankman-Friend’s follower for the previous two years. He was able to see internal documents during that time that revealed the salaries of Curry and Brady.
According to Lewis, who was quoted by Gabe Fernandez of SFGate, “He paid Tom Brady $55M for 20 hours a year for three years.” For three years, he paid Stephen Curry $35M for the same service.
Brady reportedly had a contract worth just about a million dollars per hour, if you do the arithmetic. Curry signed a contract estimating his worth at $500,000 per hour despite making substantially less money.
How much of that money Curry and Brady actually received is unknown, though, as FTX filed for bankruptcy and over a million people lost their money. Another possibility is that they received compensation in the form of a mix of cash and shares, the latter of which is now worthless due to FTX’s demise.
Brady even invested a large portion of his personal income in FTX, which only serves to highlight how regretful his association with Bankman-Fried was.