"The billionaire founder of crypto exchange FTX, Sam Bankman-Fried, has plans to give away the vast majority of his wealth thanks to the philosophy of "effective altruism," which he learned in college.
Despite running a multibillion-dollar global crypto exchange, the 30-year-old drives a Toyota Corolla, lives like a college student, and has a goal of making as much money as possible so that he will have more to give away, according to Bloomberg.
Even with his massive wealth, he says he'll keep only about 1% of his earnings each year, or about $100,000.
"You pretty quickly run out of really effective ways to make yourself happier by spending money," Bankman-Fried told Bloomberg. "I don't want a yacht."
Bankman-Fried told Bloomberg he doesn't second-guess his decision to give most of his money away."
Full article:
https://markets.businessinsider.com/news/currencies/ftx-sam-bankman-fried-wealth-donation-crypto-altruism-charity-ukraine-2022-4
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