Sam Bankman-Fried Pulls Out of World Economic Forum Event in Davos
Sam Bankman-Fried, the former CEO of FTX, was scheduled to speak at the World Economic Forum’s annual meeting in Davos. However, according to Michael Lewis‘ biography on Bankman-Fried, he decided not to attend the event at the last minute. The World Economic Forum spokesperson stated that Bankman-Fried was replaced as a panelist in a session a few days before the event, which is not uncommon.
In Lewis’ book, Bankman-Fried’s chaotic schedule and tendency to cancel meetings he had previously agreed to are described. There were instances where CEOs flew to the Bahamas under the impression that Bankman-Fried would purchase their companies, only to find out that he had changed his mind.
This was not the first instance of Bankman-Fried canceling high-profile commitments. He also failed to fly to Dubai to give the keynote address at Time magazine’s party for the 100 Most Influential People, despite being named to the list. Lewis explained that Bankman-Fried’s cancellations were not personal but rather a result of his mathematical calculations that determined the value of his time.
Bankman-Fried recently began a criminal fraud trial, facing seven charges related to FTX’s collapse. He has pleaded not guilty. In the trial’s opening statement, his defense attorney described Bankman-Fried as a “math nerd” who overlooked risk management. FTX filed for bankruptcy after encountering a liquidity crisis, despite being valued at $32 billion earlier that year.
