Elon Musk, the CEO of Tesla, denied that FTX founder Sam Bankman Fried (SBF) gave $40 million to Democratic politicians before this year’s US midterm elections. Instead, Musk said that the donations totaled more than $1 billion.
Musk said on Twitter on March 3 that “SBF’s donation of $40 million to Democratic politicians is just a public figure” and that “his real support for the Democratic election is probably over $1 billion.”
The SBF gave a total of 46.5 million dollars (about 60.04 billion won) to the last US midterm election, making it the second largest donor after George Soros, who gave the most money to the Democratic Party.
Since then, FTX and its affiliate Alameda Research have both gone bankrupt because of bad financial systems and huge management mistakes. As a result, US lawmakers are returning donations one by one because $46.5 million in political donations have been criticized.
Beto O’Rourke, a Democrat from Texas who is a U.S. Representative, recently gave back a $1 million donation from the former CEO of SBF. The $2,900 that Senator Dick Durbin got from SBF was also given to charity.
On the 14th of last month, U.S. Congressman Brad Sherman talked about the political contributions of SBF former FTX CEO and FTX co-CEO Ryan Salami. “So far, crypto billionaires’ efforts to stop meaningful legislation by giving millions to campaigns and lobbying in Washington have been successful,” he said.