This Crypto CEO Says He Made $20 Billion Just to Give it All Away

FTX CEO and Founder Sam Bankman-Fried is one of the richest people in the world, with a fortune of more than $20 billion, according to the Bloomberg Billionaires Index

For all his wealth, Bankman-Fried says his core philosophy remains the same. He’ll keep enough money to maintain a comfortable life: 1% of his earnings or, at minimum, $100,000 a year. Other than that, he plans to give it all away—every dollar, or in this case, Bitcoin.

He’s a kind of crypto Robin Hood, beating the rich at their own game to win money for capitalism’s losers. Yet he’s now part of the power structure that causes the problems he says he wants to fix. 

The Big Take

From today's story

"You pretty quickly run out of really effective ways to make yourself happier by spending money... I don’t want a yacht."

— Sam Bankman-Fried

Founder of crypto exchange FTX

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