FTX's new CEO and chief restructuring officer earns $1,300 an hour

FTX’s new CEO and chief restructuring officer, John J. Ray III, is paid $1,300 an hour, according to filings in the U.S. bankruptcy court in Delaware. According to the documents, “The services of John J. Ray III are retained pursuant to a letter of engagement (CEO engagement letter) between Owl Hill Advisory, LLC and the debtor. Pursuant to the terms of the CEO engagement letter, Owl Hill will provide Ray as Ray will remain an employee of Owl Hill and the debtor will pay the current hourly rate of $1,300 per hour under the CEO Engagement Letter.