Bankman-Fried's net worth peaked at $26 billion.[11] In October 2022, he had an estimated net worth of $10.5 billion.[12] However, on 8 November 2022 amid FTX's solvency crisis, his net worth was estimated to have dropped 94% in a day to $991.5 million, according to the Bloomberg Billionaires Index, the largest one-day drop in the index's history.[13][10] By 11 November 2022, the Bloomberg Billionaires Index considered Bankman-Fried to have no material wealth.[14] Before Bankman-Fried's wealth eroded in November 2022, Bankman-Fried was a major donor to the Democratic Party and many left-wing political causes.[15][16] He was the second-largest individual donor to Joe Biden in the 2020 election cycle, personally donating $5.2 million,[17][18] and donated $40 million to the Democratic Party during the 2022 US midterms elections.[19]