Something for the weekend
(Bloomberg) — Hello.
It’s been yet another tumultuous year for the global economy and markets, and arguably few have had a rockier time than Sam Bankman-Fried.
A month ago, the former FTX chief was undisputed king of the digital-asset industry. Now the 30-year-old is under arrest, facing criminal charges, while almost a million creditors are unlikely to get their money back.
The collapse of FTX was only one of the low points in crypto’s very bad, no good year, which Vildana Hajric and Emily Nicolle break down in their podcast.
It also threatens to upend the once-lucrative collaboration between professional sports and an industry that saw its fans as a major source of potential customers. Meanwhile, there’s growing unease over the dominance that rival Binance holds in the cryptocurrency market.
While SBF failed to make the Bloomberg 50, his successor at FTX John Ray III was included in our list of people who defined global business in 2022.
Check out the other 49 notable individuals, hailing from the worlds of politics, business, finance, science and technology, and entertainment.
Elon Musk (too obvious to include on the Bloomberg 50) has also had a busy year.
Just this week alone, the mercurial billionaire lost his title as the world’s richest person, dumped another chunk of Tesla shares, disbanded Twitter’s trust and safety council, and handed out a wave of suspensions on the site.
Kurt Wagner, Sarah Frier and Brad Stone chronicle the Shakespearean drama that’s currently playing out in Silicon Valley, while Esha Dey takes a look at how “Musk Risk” is pushing Tesla investors closer to the edge.
The World Cup enters its home stretch, with two former champions facing off in Sunday’s finals.
It’s possibly the last chance ever for Argentinian star Lionel Messi, 35, to win a World Cup title, and besides, victory would do more for his country’s economy than France’s. But for host Qatar, it’s unclear whether the $300 billion games was really worth it, as departing fans leave behind the controversy, empty stadiums and unfinished hotels.
If soccer isn’t your cup of tea, this weekend offers other distractions.
Avatar: The Way of Water lands in theaters, more than a decade after the first Avatar movie became a cultural phenomenon — and the highest-grossing picture of all time. Alternatively, there are a blizzard (150 or so) of cheap and cheerful Christmas movies available on streaming services.
And finally, if you haven’t checked off everyone on your Christmas list, Bloomberg Pursuits has compiled a list of the 26 best-in-class gifts that’ll have them saying “that’s the one.” Or for the oenophile in your life, here are the top 10 wines of the year.
Enjoy the rest of your Saturday.
We’ll be back tomorrow with a look-ahead to the coming week.
More stories like this are available on bloomberg.com
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