📣 FTX's New CEO's Multitasking Comes at a High Price
posted 5 Apr 2024
New FTX CEO John Ray III, overseeing the exchange's bankruptcy, continues to draw a hefty salary of $1,575 per hour. In March 2024, he clocked 231 hours, netting $363,825, which annualizes to approximately $4.36 million, though these figures may vary from month to month.
Among John's duties are holding weekly phone and video conferences, arranging personal meetings with the board of directors on restructuring and bankruptcy matters, ensuring internal controls, and overseeing the company's financial management. This list is just a glimpse of his broad range of responsibilities.
Mr. Ray also provided oversight related to the Debtors’ public relations and communications plans,according to the report.
Sam Bankman-Fried, FTX's former CEO, has been sentenced to 25 years of imprisonment for fraud related to the misappropriation of client assets. He argued in court that he had no criminal intent, claiming that a mere liquidity crisis on the platform was the true issue.
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