The world’s most valuable company – Apple, with market cap nearing $3 trillion, has reportedly secured the rights to the upcoming book about FTX’s founder – Sam Bankman-Fried.
The book will likely be one of the many documentaries, including short TV series, to be released about SBF and his former empire.
Apple Gets the Book
FTX’s demise was undeniably the biggest news in the second half of 2022 in the cryptocurrency industry, perhaps even in finance. The once-prominent empire, led by Samuel Bankman-Fried, who used to be the golden boy of the industry, crumbled in days, causing multi-billion dollar losses to investors.
While many former FTX and Alameda execs chose to plead guilty to the accusations that they knew what they were doing by scamming users and investors, SBF himself has refused to do so many times. The high-profile case against him is set to begin on October 3.
Most likely, it’s not a coincidence, but that date will also see the release of Michael Lewis’ (The Big Short, Moneyball, The Blind Side) book on SBF, dubbed Going Infinite: The Rise and Fall of a New Tycoon.
According to a recent report, the rights to author the book attracted massive interest that led to a bidding war. In the end, though, Apple emerged as the winner, securing the rights for $5 million.
The Ankler claimed that this is an “unprecedented” amount paid for an unpublished book. Some of the previous records include $6 million for The Da Vinci Code and $2 million for the first four movies of the Harry Potter series.
SBF’s Jail Time
The book will focus on a year of SBF’s life and will be, as the title suggests, describing his rise, downfall, arrest, and extradition. Recall that the former FTX boss was arrested in The Bahamas, where he and most other FTX Alameda execs resided and was transferred to the US shortly after.
He was then released on a $250 million bond and lived in his parents’ house for months. However, SBF was thrown back to jail after reports emerged that he knowingly tampered with witnesses in his case, including former girlfriend Caroline Ellison.
The prison itself has been described as one of the most horrific in the States, with reported accommodations for 1,000 people but actual attendance of 1,600. Being vegan has also played a role for SBF, whose lawyers said he had to survive on bread and salt.