The Blubber

Sam Bankman-Fried believed his wild hair helped him get higher bonuses early in his career and was 'very valuable,' Caroline Ellison has said.

Sam Bankman-Fried meticulously crafted his public persona, complete with his distinctive unruly hair, as revealed by his ex-girlfriend, Caroline Ellison.

During her testimony in a Manhattan courtroom on Wednesday, Ellison, the former CEO of Alameda Research, disclosed that Bankman-Fried intentionally worked on refining his image as the co-founder of FTX, even if the outward appearance seemed casual.

"He looked like he didn't put a lot of effort into his personal appearance," she remarked about her on-and-off boyfriend. "He dressed pretty sloppily and rarely cut his hair."

Despite his seemingly laid-back image, which often featured cargo shorts and a t-shirt, Ellison emphasized that this was all part of Bankman-Fried's strategic plan for FTX and its affiliated hedge fund, Alameda Research.

"He thought his hair was very valuable," Ellison stated, revealing Bankman-Fried's belief that his distinctive hairstyle had contributed to higher bonuses during his tenure at the trading firm Jane Street. According to him, it was "essential to his image." (Insider reached out to Jane Street for comment.)

Ellison added that Bankman-Fried implemented other measures to project a more down-to-earth image, such as eschewing luxury cars in favor of a Toyota Corolla. She, too, drove a Honda Civic to contribute to the company's positive image in the press. Additionally, Bankman-Fried encouraged Ellison to maintain a presence on Twitter to generate favorable media coverage for the company.