Is Faze Banks Still Rich? Fact-Checking His Wealth After the Mlg Coin Collapse

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Much of the public misunderstanding regarding Bengtson’s net worth stems from confusing paper corporate valuations with take-home cash. When FaZe Clan completed its public listing in July 2022, the company held an implied valuation of $725 million. On paper, Bengtson was a multimillionaire many times over. That valuation, however, was an illusion. The stock cratered by more than 95% within months as operational burn rates eclipsed revenue.

In late 2023, GameSquare Holdings stepped in to acquire FaZe Clan in an all-stock transaction valued at approximately $17 million, a fraction of its former trading high. Under the terms of the merger, Bengtson was appointed CEO to restore organic culture, earning an annual executive base salary estimated between $350,000 and $500,000 alongside incentive equity packages. When Bengtson walked away following the MLG coin scandal in July 2025, those executive compensation streams stopped immediately. His equity stake in GameSquare remains, but with GameSquare trading conservatively and creator brand power fractured, his corporate shares generate very little immediate liquidity.