Most Americans Know Their Worth to the Penny and Yet SBF Lost $8 Billion and Joe Biden Lost $20 Billion

Most Americans know their net worth to the penny and yet SBF lost $8 billion and Joe Biden lost $20 billion.  How can this happen?

The Biden economy is in terrible shape.  Americans are watching their net worth dissolve.

According to one report at Finance Buzz from October:

• Median net worth in the United States is $121,700, up 17.6 % from 2016²
• Average net worth is $748,800, up a more modest 2% from 2016²

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The list of billionaires in October included Sam Bankman-Fried (SBF) with a net worth reported at $8.7 billion:

1. Austin Russell, age 26 ($2.4 billion)
2. Andy Fang, age 28 ($2 billion)
3. Stanley Tang, age 28 ($2 billion)
4. Sam Bankman-Fried, age 29 ($8.7 billion)
5. Evan Spiegel, age 30 ($8.7 billion)

This unique thing about SBF’s net worth is that it is close to the $8 billion that is missing after FTX’s bankruptcy:

Bankman-Fried stands accused of perpetrating a multibillion-dollar fraud on his investors, using customer funds to purchase properties, fund political donations and backstop trades at his hedge fund Alameda Research.

Federal regulators allege over $8 billion in customer funds is missing. FTX filed for bankruptcy protection in Delaware on Nov. 11. Bankman-Fried’s successor, CEO John Ray, said he’d never seen such a “complete failure of corporate control.”

SBF isn’t the only one who recently lost billions.  Joe Biden can’t account for $20 billion that was sent to Ukraine.

BREAKING: Biden Admin Can’t Account for $20 Billion in Aid to Ukraine

Between Joe Biden and SBF $28 billion is missing and both entities were involved in Ukraine.  At the same time most Americans are wondering how they are going to pay their electric bill next month.