Scandal That Cost Tom Brady and Gisele Bündchen $150M Takes a Massive Hit on Ontario Teacher’s Pension Plan

After filing for bankruptcy in November last year, FTX, a crypto exchange company, lost billions of dollars. Tom Brady and his ex-wife, Gisele Bündchen, are some of the high-profile celebrities who invested massively in this company and lost millions of dollars. Not just celebrities, the FTX collapse has hit Ontario Teachers’ Pension Plan, Canada’s largest single-profession pension plan.

It is worth noting that the pension plan provides pensions and investment plans to almost 318,000 working and retired teachers. Moreover, it has a net asset of almost $227 billion. After the FTX bankruptcy, the Plan certainly took a major hit.

Ontario Teachers’ Pension Plan lost plenty of money after the FTX collapse

In a recent statement, Ontario Teachers’ revealed that in October 2021, they invested around $75 million in FTX. Then again, in January 2022, they made another investment worth $20 million; in total, they invested around $95 million.

As per their statement, they will write down their entire investment in the crypto exchange company to zero. However, they feel the loss won’t affect their overall financial situation, as they almost have $227 billion in net assets. However, they feel disappointed with the scandal and the outcome of their investments in FTX. Moreover, the Ontario Teachers’ Pension Plan owned nearly 11.9 million shares in the company, as per reports.

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Notably, the FTX was attached to the sporting world greatly, as many famous sporting personalities made investments in this company, including Brady and Bündchen.

Tom Brady and Gisele Bündchen lost almost $150 million after the FTX scandal

As per reports, Brady had 1.1 million shares in the FTX company. At one point, they were worth around $93 million. As for Bündchen, she also had 680,000 shares in the crypto exchange company and they were worth $57 million at peak. However, it is still unknown whether they actually bought those shares or the company gave them for promoting FTX.

Notably, Brady became the brand ambassador for the FTX in 2021 and his now ex-wife, Bündchen, served as the environmental and social initiatives advisor for the company. The CEO of FTX, Sam Bankman-Fried, praised both Brady and Bündchen back in 2021 for meeting the company’s criteria.

Meanwhile, Brady’s friend and the owner of the Patriots, Robert Kraft, also lost around $53 million after investing in that company. Apart from them, other sporting personalities like MLB star Shohei Ohtani, tennis star Naomi Osaka, NBA star Stephen Curry, Jaguars QB Trevor Lawrence, former NBA player Shaquille O’Neal, and many others lost plenty of money as well.

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