So far, he has given away just $25 million, about 0.1% of his fortune, placing him among the least charitable members of The Forbes 400. Now I’m selling it again.”Īt the moment, Bankman-Fried’s “effective altruism,” the utilitarian-inflected notion of doing the most good possible, is almost entirely theoretical.
Asked if he would abandon crypto if he thought he could pile up more money doing something else-say, trading orange juice futures-he doesn’t even pause: “I would, yeah.” Not Bankman-Fried, whose philosophy of “earning to give” drove him into the crypto gold rush, first as a trader, then as the creator of an exchange, simply because he knew he could get rich. Elon Musk claims he’s in business to save humanity. Steve Jobs obsessed over his sleek and simple products. He’s a mercenary, dedicated to making as much money as possible (he doesn’t really care how) solely so he can give it away (he doesn’t really know to whom, or when). The irony? Bankman-Fried is no crypto evangelist. Save for Mark Zuckerberg, no one in history has ever gotten so rich so young. Now, five months shy of his 30th birthday, he debuts on this year’s Forbes 400 at No. Four years ago, Bankman-Fried had yet to buy a single bitcoin.
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