Shirtless and in black sweatpants, Sam Bankman-Fried lay on the fifth cot, closest to the door.
A photo of the cryptocurrency mogul accused of dishonor has emerged as the most famous prisoner at the Fox Hill Center in Nassau, Bahamas.
His life there was as good as in Fox Hill. White in the United States He wasn’t the “club Fed” lodgings favored by criminals of color, but it wasn’t nearly as overcrowded as many others have had to endure.
Unlike those prisoners, Mr. Bankman-Fried is housed in a ward. He even had access to running water and toilets, among other perks.
Prison officials say he spends his days watching the news on TV and reading articles about himself.
Bankman-Fried’s life on the island nation has undergone a remarkable transformation since his arrest this month. Before FTX fell apart, the former billionaire lived in his $30 million penthouse a few kilometers from prison.
At Fox Hill, more formally called the Center for Bahamas Correctional Services, Bankman-Fried shared a one-room hospital room with four other men.
All prisoners have cots, and prisoners complain of sleeping on bare ground or in makeshift cardboard beds in rat-infested cells.
In honor of Bankman-Fried’s notoriety, individual guards were assigned to watch over him during working hours from 2pm to 10pm and from 10pm to 6am.
A prison doctor examined Mr. Bankman-Fried twice a day. A barn-like door provided a bit of privacy to the shared shower and toilet.
Prison officials say Bankman-Fried was fed a vegan diet.
More standard breakfast options at Sickbay include steamed sausages, sardines and Lipton tea. Lunch options include turkey curry, corned beef and fried chicken wings, all served over white rice.
Air conditioning in the nearby inspector’s office made Bankman-Fried’s nights more comfortable.
He was allowed to do crossword puzzles, watch cable TV, and read the local newspaper. He received a call from his lawyer on a special line connected to his visitor center downstairs.
By late Tuesday, preparations for his extradition were underway at Foxhill.
Doan Clearer, deputy commissioner of the Department of Corrections that runs Fox Hill, said Bankman-Fried seemed relieved and optimistic about heading to the United States.
Before appearing at Fox Hill to formally accept extradition, Mr. Bankman-Fried ate a peanut butter and jelly sandwich on wheat toast and wished prison staff a Merry Christmas.
Lachlan Murdoch called business leaders from Fox and News to his $150 million Los Angeles estate, Chartwell, for a rare meeting in February.
His father, Rupert Murdoch, 91, the billionaire co-chairman of both businesses, preferred to keep management teams competing with each other, but his eldest son had other plans.
The company needed an empire-wide initiative to tackle Web3, a more decentralized internet that could have a significant impact on Fox News and Murdoch outlets like Fox News. wall street journal.
But according to Australian journalist Paddy Manning, the biggest lesson for those who attended the conference wasn’t the future of media. “Lachlan is in charge.”
This anecdote is the final chapter in Mr. Manning’s new book. heiran unauthorized biography of Lachlan.
Manning’s timing was perfect. The Murdochs said last month that the boards of Fox and News Corp had formed a special committee to consider reuniting the two companies, which have operated as separate companies for nearly a decade.
Photos: The Age of Rupert Murdoch
Many observers see the move as an effort by Lachlan, the chairman and CEO of Fox and co-chairman of Newscorp, to further consolidate his power.
Lachlan, 51, was born in London but grew up in New York with his brother James, 49, and sister Elizabeth, 54. He attended preparatory school and studied philosophy at Princeton University.
After graduating, he worked for his family’s newspapers in the UK and Australia.
Due to disagreements with his father, Lachlan left News Corp in 2005 to start his own investment firm in Australia. A string of deals followed, some of which were successful, including his Nova Entertainment, a radio station group he still owns.
Others have not, most notably Australia’s Network 10, where Lachlan’s unsuccessful attempt to turn around.
He returned to the family business in 2014 after nearly a decade away, and has been the heiress since his brother James left after selling most of Fox’s entertainment assets to Walt Disney in 2019. increase. The following year, James quit his co-op at News. board too.
Lachlan lives a life of luxury with several mansions, a custom-built Porsche, and a $30 million yacht he purchased earlier this year. Another of her $175 million ships is on the way.
As with his father, he hobnobs with prime ministers and industry giants, but doesn’t like the limelight.
Lachlan does not take part in editorial decisions, as his father has historically done.
Just as he runs a private investment firm, he makes smaller bets at Fox than his father. Over the past few years, the company has acquired a variety of companies, including ad-supported streaming service Tubi and online loan broker Credible Labs.
The largest shareholder in both companies is a family trust, with Mr. Rupert having the most say.
After his death, his votes went to the four oldest children from his first marriage, including Prudence. Her two younger children are beneficiaries but do not have the right to vote.
It remains to be seen whether Lachlan will have the support of his three brothers and sisters to stay on as CEO.
Reliance Industries has agreed to acquire the Indian division of Metro, the country’s largest retailer run by billionaire Mukesh Ambani, for 28.5 billion rupees ($344 million).
Metro is expected to post a transaction profit of approximately €150 million ($159.2 million) upon closing, accretive to earnings per share.
The deal with Reliance Retail Ventures is expected to close by March 2023.
With India’s trading industry consolidating and experiencing disproportionate growth, significant investment was required to further grow the business, said Steffen Greubel, Metro’s chief executive officer.
The deal concludes a months-long sales process that once attracted interest from e-commerce companies Amazon and Thailand’s Charoen Pokphand Group.
The addition of Metro’s ‘cash and carry’ business strengthens Reliance, already India’s largest brick-and-mortar retailer.
Top 10 richest celebrity billionaires in 2022 – in pictures
A larger wholesale network will allow access to India’s rural areas, home to the majority of its 1.4 billion people.
Metro entered the Indian market in 2003 and currently operates 31 wholesale distribution centers across the country to serve corporate customers. Core clients include various types of businesses such as hotels, restaurants, and small retailers.
Since its founding in 2011, Reliance Market, the group’s B2B ‘cash and carry’ business led by Ambani, has grown rapidly to a network of 52 shops with over 4 million members.
French billionaire Vincent Bolloré’s holding company has finalized the sale of its African ports and logistics business to MSC Shipping Group for €5.7 billion ($6.05 billion).
Bollore Africa Logistics has a presence in 47 countries in Africa and operates ports in countries from Ivory Coast to Cameroon to Nigeria, according to its website.
As competition from Chinese operators increased and many ports and centers required high investments, Bolloré Group decided to sell its operations.
Italian-French shipping giant MSC, which operates 560 vessels worldwide, is buying assets.
Bolloré officially stepped down as head of the Bolloré Group in February before appointing his son Cyril, 33, as chairman and CEO. However, he remained the controlling shareholder.
In recent years, Bolloré has focused on building France’s media empire.
Mr. Bolloré has built a small family-run printing company into a global logistics powerhouse through a series of acquisitions and has earned a reputation as a hard-line negotiator and corporate raider.
Updated: December 26, 2022, 5:11 AM
Leave a Reply