FTX owes more than $55,000 to Jimmy Buffett's Margaritaville beach resort in the Bahamas, bankruptcy filings show

Sam Bankman-Fried and Jimmy Buffett holding a Margaritaville beach ball
Sam Bankman-Fried's FTX owes $55,319 to Jimmy Buffett's hotel chain.Tom Williams/CQ-Roll Call, Inc via Getty Images; Amanda Edwards/Getty Images
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  • New documents in FTX's bankruptcy case revealed who is owed money by the collapsed crypto firm.

  • The Margaritaville beach resort in the Bahamas is seeking $55,319 from Alameda Research.

  • Jimmy Buffett founded the chain after the success of his song of the same name.

New documents in FTX's bankruptcy case show that the company owes over $55,000 to the Bahamas Margaritaville beach resort, founded by the singer Jimmy Buffett.

On Monday, lawyers for FTX filed lists of the top 50 creditors for the companies related to Sam Bankman-Fried and his crypto exchange.

Margaritaville's claim for $55,319 makes it the fourth-largest creditor to Alameda Research, the high-risk trading firm that CoinDesk described as having suspiciously close ties to FTX, which led to its collapse.

Margaritaville is named after Buffett's hit song of the same name celebrating a tropical lifestyle. Eight years after the song's release in 1977, Buffett founded the restaurant chain, which later expanded to include hotels and even a $1 billion retirement community in Florida.

The four-star hotel sits on the beach in Nassau. Its most expensive presidential suite costs over $3,300 a night, meaning the FTX bill could have bought over two weeks in the best room.

Margaritaville's luxuries include $160 tomahawk steaks at the restaurant named after Buffett and $62 bottles of prosecco at the bar — but you'd have to get through 892 bottles to reach the same debt as FTX.

The resort also provides a service for large meetings and corporate events, and a docking service for yachts.

Insider's attempts to contact the resort via phone and email to try to learn specifically what FTX might have spent the money on were unsuccessful.

The latest court documents also show that Alameda's top creditor is Amazon Web Services, which it owes $4.6 million. But that pales in comparison to the FTX side of the business, where one unnamed customer is seeking $226 million.

FTX did not immediately respond to a request for comment.

Read the original article on Business Insider