FTX CEO Who Led ‘Model’ Bankruptcy Is Up for $41 Million Bonus

John J. Ray III, who led FTX’s restructuring and efforts to return billions of dollars to customers after it imploded in 2022, stands to collect bonuses totaling $41 million.

Ray — who also oversaw the liquidation of Enron Corp. — and his consulting firm, Owl Hill Advisory LLC, are in-line to receive a $3 million completion fee and $38 million incentive fee under his court-approved compensation package, according to court papers filed by FTX on Sunday. The size of the awards could be challenged by creditors or the US Justice Department’s bankruptcy unit and must be approved by ...