Effective Ventures, a charity associated with FTX, has recently confirmed the sale of a stately manor in the UK, resulting in a substantial loss of $14.5 million. The organization reported this transaction as part of its efforts to wind down operations in the region.
The property, initially acquired for £17 million (approximately $23 million) in 2022, was sold for just £5.95 million (around $8 million). This sale reflects an impairment loss of £10.7 million ($14.5 million), as detailed in their financial accounts published last Friday.
The manor was purchased with the intention of hosting educational events for the effective altruism movement, a philanthropic philosophy encouraging wealthy individuals to contribute to causes that deliver the greatest good. Effective Ventures had received over $26 million from FTX, which was later reimbursed during the exchange”s bankruptcy process.
Following inquiries by UK government regulators, Effective Ventures confirmed that it had acted “diligently” in response to the financial collapse of FTX. The charity”s recent accounts for the fiscal year ending in June 2025 revealed that the selling price of the manor was adjusted several times, initially listed at £15 million ($20.3 million) before being reduced to £12 million ($16.3 million) and finally to just under £6 million.
Rob Gledhill, CEO of Effective Ventures UK, stated that the decline in the property”s value was a direct result of “market conditions for country estates.” He also emphasized that the proceeds from the sale would be directed towards high-impact charities and the ongoing operations of Effective Ventures.
Furthermore, the charity noted that it had achieved “significant progress” in transitioning projects into independent entities as it prepares to fully conclude its operations, expected by 2026 or later. Effective Ventures generated £12 million ($16.3 million) in revenue during the 2025 fiscal year, primarily from donations and grants, a notable drop from the £31.6 million ($42.8 million) reported in 2024. The organization”s expenditures also increased, surpassing £37.5 million ($51 million) in the same fiscal period.
As Effective Ventures moves forward, it remains focused on its commitment to effective altruism, underscoring the importance of transparency and accountability in its financial dealings amid the challenges posed by the FTX fallout.
