Sam's parents are Joseph Bankman and Barbara Fried, who are ironically both professors of law and business at Stanford University. Joseph's profile tells us that he is "a leading scholar in the field of tax law" and is also a "clinical psychologist." He was also an employee of Sam's company, FTX, for a little less than a year.
Barbara had taught classes about "the intersection of law, economics, and philosophy" before recently retiring. She's also a writer who has written shorts stories and poems, and is currently working on a novel.
Both of Sam's parents have remained by their son's side throughout the charges being brought against him. The Wall Street Journal reports that Joseph and Barbara were there for his court hearing in the Bahamas, and also went to see him in jail. Sam has been released on a $250 million bond and is to remain at his parent's house in San Francisco.