FTX's new CEO and chief restructuring officer is earning this much

November 19, 2022

John J. Ray III, FTX's new chief executive officer and chief restructuring officer, was paid $1,300 an hour and billed at least monthly.

The information was revealed in the U.S. Bankruptcy Court filings in Delaware.

The document states, "The services of John J. Ray III are retained pursuant to an engagement letter (CEO Engagement Letter) between Owl Hill Advisory, LLC and the Debtors.

According to the CEO Engagement Letter, Owl Hill will provide Ray's services as CEO of the Debtors.

New FTX CEO will remain an employee of Owl Hill and the Debtors will pay the current hourly rate of $1,300 per hour under the CEO Engagement Letter.

FTX filed for bankruptcy on November 11, 2022 causing a widespread panic in the industry.

SBF resigned from the position of CEO a day before filing for bankruptcy.