SBF Index
SBF Index Estate sold Anthropic for $1.34B$ANTpre-IPO IPOAnthropic expected on Nasdaq Nov 19 or 20, per Fox Business$SOL $HOOD $SPCX $SUI SBF25 years, federal prison

LiveNasdaq closedAs of Nov 10, 2026Case No. 22-11068

Fraud aside, SBF could've been the greatest VC of all time. This is the live score.

The SBF Index: what Sam Bankman-Fried's FTX portfolio would be worth today

$60.31B

 

What Sam Bankman-Fried's venture investments would be worth today if the FTX estate had never sold them. It covers every stake FTX and Alameda held when they went bankrupt, from Anthropic, SpaceX, Solana and Robinhood to about 450 small startups, priced live. The estate sold the Anthropic stake for $1.34B.

Prices: Entropy's Anthropic pre-IPO market on Hyperliquid (io:ANTH), Coinbase (SOL, SUI), Nasdaq (HOOD, SPCX).

Sam Bankman-FriedHalftone portrait of Sam Bankman-FriedServing 25 years

Since 2021, vs the same money in the S&P 500

SBF Index

His old stakesbfindex.com

$42,212,600,664

445,392,400 shares, 2.5% of the company by the share count in its S-1 ↗ Sold in 2024 for $1.34B; worth 32× that now. See the math

Left on the table

$54,076,429,479

The index minus the $6.2B the estate got for everything.

The Wall Street Journal said

$75,000,000,000

For the same Anthropic shares. 2.9× too high. See all 9 headlines →
Put in
$5.32B2021 to 2022
Multiple
12.2×on the money put in
S&P 500, same money
$10.3B1.9×
Bitcoin, same money
$11.4B2.1×
The estate got
$6.23B1.2×, sold 2023 to 2024
All-time high
$76.1BSep 9, 2026
On bankruptcy day
$3.85BNov 11, 2022
1-year change
+130%since Oct 26, 2025

The receipts

From In re FTX Trading Ltd., No. 22-11068, and Anthropic's S-1.

The media scoreboard

sbfindex.com

2.9×too high

The Wall Street Journal, Forbes and Benzinga all multiplied FTX's 2024 stake (7.8% to 8%) by a later valuation. Anthropic kept issuing shares, so the stake kept shrinking.1 Nobody did it on purpose. Dilution is easy to miss.

What they saidThe record, same valuation

Wall Street Journal, Oct 12$75B / $26.2B
Forbes, May 5$80B / $30.4B
Benzinga, Apr 23$64B / $24.3B
All 9 articles
  1. The Wall Street JournalOct 12, 2026Said $75B at a $965B valuation. The record: $26.2B. 2.9×
  2. ForbesMay 5, 2026Said $80B at a $1T valuation. The record: $30.4B. 2.6×
  3. Forbes (contributor)Mar 18, 2026Said $30.4B at a $380B valuation. The record: $11.5B. 2.6×
  4. TheStreet, on Yahoo FinanceOct 12, 2026Said $75B at a $965B valuation. The record: $26.2B. 2.9×
  5. Moneywise, on Yahoo FinanceOct 1, 2026Said $75B at a $965B valuation. The record: $26.2B. 2.9×
  6. BenzingaApr 23, 2026Said $64B at a $800B valuation. The record: $24.3B. 2.6×
  7. CCN, on Yahoo FinanceApr 23, 2026Said $82.3B at an implied $1T valuation. The record: $31.2B. 2.6×
  8. BenzingaApr 2, 2026Said $28.8B at a $380B valuation. The record: $11.5B. 2.5×
  9. BenzingaSep 4, 2025Said $14.64B at a $183B valuation. The record: $6.28B. 2.3×

The record prices FTX's 44,539,240 shares at each article's own valuation, using Anthropic's share count at the time.2 Archived copies of every article are in our research files.

Bigger than the CEO

sbfindex.com

1.85×Dario's stake

The block FTX bought for $500M is now 445.4M Anthropic shares. That is more than any person at the company holds, and more than a quarter of what all seven co-founders own together (1.69B).1

FTX's old block (sold 2024)445.4M
Tom Brown, co-founder244.2M
Chris Olah, co-founder242.9M
Jared Kaplan, co-founder242.4M
Jack Clark, co-founder242.3M
Daniela Amodei, co-founder, president241.4M
Dario Amodei, co-founder, CEO240.6M
Sam McCandlish, co-founder231.8M
Krishna Rao, CFO9.5M

Shares after the 10-for-1 split, from the S-1's principal stockholders table (as of Sept 30, 2026). Amazon and Google hold non-voting shares that table doesn't list. Read the S-1 ↗

The Anthropic math →

Who got the upside

sbfindex.com

32×in two years

38 buyers paid the estate $1.34B for the Anthropic shares in 2024, across 45 purchases.2 At today's price they are worth $42.2B.

ATIC (Mubadala)$500.0M$15.8B
G Squared$135.0M$4.26B
Jane Street$100.0M$3.16B
Forge fund FG-BLU$93.0M$2.94B
+ 34 more buyers
Total, 38 buyers$1.34B$42.2B
All 38 buyers →

Who was owed

sbfindex.com

$0of the gains after the sale

This was customer money. Customers have been paid about 105% of their claims so far, at November 2022 prices, when bitcoin was about $17,000.4 The estate's sales helped pay for that. The gains after the sales went to the buyers. Sam Bankman-Fried is serving 25 years.

~105%of claims repaid
120%for small claims

Swipe for more →

Holdings

As of Nov 10, 2026
PositionPut inEstate gotWorth nowMultipleTodayWhat happened
Anthropic445.4M shares, 2.5%$500.0M$1.34B$42.21B70.0%84×+0.07%Sold 2024
Solana55.0M SOL$137.0M$4.12B$4.77B7.9%35×+0.48%Sold 2024
Robinhood55.3M HOOD shares$648.0M$605.7M$4.61B7.6%7.1×0.00%Seized, sold 2023
SpaceXvia the K5 and Vy funds$300.0MStill held$3.63B6.0%12×0.00%Still held
Cursornow part of SpaceX$200K$0.2M$3.04B5.0%15,222×0.00%Sold at cost
Mysten Labsshares and SUI warrants$101.2M$96.3M$0.41B0.7%4.0×+2.37%Sold 2023
Genesis Digitalbitcoin miner$1.15BUnclear$0.29B0.5%0.3×0.00%Unclear
About 440 others →startups and tokens$2.48BSee sales$1.36B2.3%0.5×0.00%Mixed
Total$5.32B$6.23B$60.31B11.3×+0.10%

Each value is the shares or tokens the estate inherited, times today's price. See all 461 positions, every estate sale and the court filings.

Questions

The Wall Street Journal said $75 billion. Why is it $47 billion here?

The Journal multiplied FTX's 2024 stake (7.8%) by Anthropic's $965B valuation.5 Anthropic had issued many new shares by then. At that round's share price, the same 445.4M shares were worth $26.2B. By the S-1's share count they are 2.5% of about 17.8B shares.1 Even at today's pre-IPO price of $1.69T, the block is worth $42.2B, well short of $75B.

FTX's old block atPer shareThe block
FTX's entry, 2021$1.12$0.50B
Estate sale, 2024$3.00$1.34B
Series H round, May 2026$58.90$26.2B
Pre-IPO market, today$94.78$42.2B
If the IPO values it at $2T$112.46$50.1B

Every $100B of Anthropic market value adds about $2.5B. Prices are after the 10-for-1 split.

The Anthropic math → All nine articles, checked →
Does SBF get anything from this?

No. The estate sold nearly everything, and he is serving a 25-year sentence. The index tracks what his bets became, not money anyone is holding for him.

How is the index calculated?

We hold what the estate inherited and mark it to market every day since Jan 1, 2021. Anthropic uses its funding-round prices until late 2025, then the pre-IPO market price, then the Nasdaq price once it lists. SOL, Robinhood and SpaceX use market prices. The S&P 500 and bitcoin lines put the same dollars in on the same days.

The full method →
Can I invest in it?

Not in the index. It is a record of what the estate would hold if it had never sold, not a fund. Not financial advice.

We also answer what FTX's old Anthropic stake is worth now, what SBF's portfolio would be worth today and why the $75 billion figure is wrong on their own pages.

Writing about SBF, FTX or Anthropic?

Email us for the court filings, the data and the math behind any number on this page. Corrections are welcome too.

hi@sbfindex.com
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Free to use with a link. Latest correction, Oct 26: we had estimated the stake at 2.7%; the S-1's share count gives 2.5%.

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