Robert Belfer (from Weizmann Institute bio)
Robert Belfer, a Jewish businessman and philanthropist, seems to have the notorious distinction of being the only person to have lost money with Enron, Bernie Madoff’s Ponzi scheme and also Sam Bankman-Fried’s failed FTX cryptocurrency company. Financial Times reported that investment firms for the Belfer family were included in a list of shareholders of the cryptocurrency exchange FTX and its US business.
Apparently, Robert Belfer’s family also lost about $2 billion when Enron went bust 20 years ago. And Enron proved to nothing more than a shell game of a company much in the same way that FTX has turned out to have been.
As for FTX, Robert Belfer’s Belfer Investment Partners apparently lost $34.5 in the now defunct firm. Belfer held shares from the very beginning in FTX, from its equity fundraisings in 2021 and early 2022.
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As for the Bernie Madoff scandal, Financial Times reported that the Belfers were able to get out of that Ponzi scheme in time, withdrawing $28 million from the fund. But this may not have been their entire investment.
Robert A. Belfer, 87, was born in Poland. He is a long-time supporter of the Weizmann Institute of Science and serves on its International Board. He graduated from Columbia College (’55) and the Harvard Law School (’58). Bob began a long career with Belco Petroleum Corp., a Fortune 500 company, where he was President for 20 years and named Chairman in 1985. The company engaged in exploration and development of oil and gas in the United States, Peru and Canada. Its assets now form part of EOG Resources. In 1992, Bob founded Belco Oil & Gas Corp., a leading independent producer of domestic oil and gas which is now part of Anadarko Petroleum. He is currently Chairman of Belfer Management LLC, a private investment firm.
Mr. Belfer supported the establishment of the Belfer Institute in 1996 and continued to support it. He named the institute in memory of his beloved parents, Arthur and Rochelle.
