[joosters]

Well he failed miserably at that. If he had stuck with his original supposed $1 billion, he could have given almost all of it away and still lived a very comfortable life. As it stands now, his charitable foundation has pledged far less than $1 billion (at it remains to be seen just how much it pledged actually gets paid out).

Perhaps if he had spent more time donating money (his stated aim) rather than inventing convoluted financial structures (FTX has over 100 related companies!), he would have achieved more, and cost people a lot less.

[jefftk]

There are lots of reasons to be mad and lots of red flags, but having over a hundred companies is pretty normal in this space. To operate a financial business legally across many jurisdictions you generally need to have subsidiaries in each jurisdiction. Ex: https://wise.com/help/articles/2974131/what-are-the-wise-gro...

[joosters]

Not true - the FT took a look at the org chart of FTX, it's way more complicated than even Lehman Brothers - https://www.ft.com/content/c28e0570-d4c4-433c-b0a0-c99fba613...

[jefftk]

Lehman Brothers didn't allow individuals in many countries around the world to make trades on their platform, so I don't think they're a good comparison here.

(Sorry for saying "financial" earlier when the reference class is really something more specific like "international retail finance")