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Sam Bankman-Fried is worth $8.7 billion, shares an apartment with roommates, wears T-shirts and shorts to work, and sleeps on bean bag chairs.   © Nikkei montage/Source photos by Michelle Chan and Reuters
Business Spotlight

Hong Kong's 29-year-old crypto billionaire: FTX's Sam Bankman-Fried

Value of exchange business led by US entrepreneur jumps 20-fold in a year

MICHELLE CHAN, Nikkei staff writer | Hong Kong

HONG KONG -- In 2021, one of Hong Kong's richest people -- indeed, the world's richest person under 30 years old -- is not an old-money-family heir but a U.S. native who built his fortune in the cutting-edge world of cryptocurrency.

Sam Bankman-Fried is worth $8.7 billion, according to Forbes. But that number could get "a lot bigger" depending on the outcome of a fundraising round that he says will sharply increase the valuation of FTX, the Hong-Kong based crypto derivative exchange he founded in 2019.

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