Sam Bankman-Fried Mulled Paying Donald Trump $5 Billion To Stop Presidential Run, Michael Lewis Says

Updated: 02 October 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

Sam Bankman-Fried considered offering Donald Trump $5 billion to stop him running for the US presidency again, Michael Lewis said.

Lewis, the author of books including “The Big Short,” told CBS News that Bankman-Fried saw Trump’s potential candidacy as a significant threat to American democracy.

Lewis revealed the information in a wide ranging interview with CBS in connection with the Oct. 3 release of his new book on Bankman-Fried, ”Going Infinite: The Rise and Fall of a New Tycoon.”

“Sam’s thinking, ‘We could pay Donald Trump not to run for president. Like, how much would it take?'” Lewis said. “So he did get an answer. He was floated– there was a number that was kicking around. And the number that was kicking around when I was talking to Sam about this was $5 billion, Sam was not sure that number came directly from Trump.”

Michael Lewis reports that Sam Bankman-Fried considered paying Donald Trump not to run for president. He even got a number: $5 billion, but never learned if it was a serious figure that came from Trump himself. https://t.co/WtGO1TPP4A pic.twitter.com/WeKCNByiTk

— 60 Minutes (@60Minutes) October 1, 2023

Bankman-Fried was concerned about whether such an offer would break the law, Lewis said. “The question Sam had was not just, “Is $5 billion enough to pay Trump not to run?” but “Was it legal?’” he said.

The Unfulfilled Plan of Bankman-Fried

The plan never came to fruition because Bankman-Fried’s FTX empire suddenly imploded, leaving the crypto exchange and its affiliates bankrupt. FTX’s collapse marked a chaotic end to the company’s operations, with employees hurriedly exiting and leaving their belongings behind.

Former President Donald Trump’s office didn’t respond to inquiries regarding the revelation, CBS News reported.

Lewis’ book provides a thorough examination of Bankman-Fried’s life and his adventurous journey, offering insights into his bold aspirations and the obstacles encountered during his time as the former CEO of FTX.

Political Donations and Legal Challenges

Before the downfall of FTX, Bankman-Fried was a notable political donor, contributing millions of dollars to candidates from both the Democratic and Republican parties. His donations drew the attention of federal prosecutors, who reportedly investigated his financial contributions to political figures.

The highly anticipated trial of SBF is set to begin on October 3 with the selection of the jury, followed by the official trial proceedings on October 4.

During the trial, there will be seven cases of alleged fraud against SBF, consisting of two serious charges where the prosecution must demonstrate Bankman-Fried’s direct involvement, as well as five conspiracy charges.