Kevin o’Leary Investments in FTX Exposed: He didn’t Lose Money
So you're interested in knowing how much Kevin O'Leary lost in the FTX deal. Well, the short answer is that he said he lost around $9.7 million. It's definitely not chump change, but for someone as wealthy as O'Leary, it's probably just a drop in the bucket. However, the reality is that the money he lost was not his, but your Money.
Let's say Peter and Paul love horse betting, and Peter is very good at it while Paul isn't. Paul gives Peter $200 to recommend a horse that will win the race, and Peter takes the $200 and recommends a horse, and Peter takes $150 from the $200 he received from Paul and bets it on the same horse he recommended to Paul. The horse ends up losing The Race, Paul and Peter lose money, but Peter only loses a portion of the money Paul gave him.
The moral of the story is that Kevin O'leary lost a portion of the money he was paid to become a spokesperson for FTX, and it's possible that money was stolen from FTX clients by Sam Bankman Fried, which is why he protects and speaks highly of him.
He said that none of his investment partners had lost money. Because the money he invested in FTX was his money and we can bet it was the money he got paid to become a spokesperson for FTX. Imagine getting paid $15 million to become a spokesperson for a company, that’s lot of money
On that $15 million He went on to put about $9.7 million into crypto. And he had more than $1 million of FTX equity. And the balance of a little over $4 million was purportedly eaten up by taxation and agent fees
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