{"id":158858,"date":"2022-06-05T09:03:01","date_gmt":"2022-06-05T09:03:01","guid":{"rendered":"https:\/\/precoinnews.com\/?p=158858"},"modified":"2022-06-05T09:03:01","modified_gmt":"2022-06-05T09:03:01","slug":"ftx-ceo-sam-bankman-fried-becomes-latest-billionaire-to-sign-the-giving-pledge","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ftx-ceo-sam-bankman-fried-becomes-latest-billionaire-to-sign-the-giving-pledge\/","title":{"rendered":"FTX CEO Sam Bankman-Fried Becomes Latest Billionaire to Sign the \u2018Giving Pledge\u2019"},"content":{"rendered":"

Sam Bankman-Fried (SBF), Co-Founder and CEO of crypto exchange FTX, has signed the Giving Pledge.\u00a0<\/p>\n

The\u00a0Giving Pledge\u00a0is an initiative, started in 2010 by Warren Buffett, Bill Gates, and Melinda Gates, that encourages\u00a0some of the world\u2019s richest individuals, couples, and families\u00a0to publicly declare that they will\u00a0dedicate the majority of their wealth to charitable causes \u201ceither during their lifetime or in their will.\u201d It \u201ccame to life following a series of conversations with philanthropists about how they could set a new standard of generosity among the ultra-wealthy.\u201d<\/p>\n

According to a report by CoinDesk, SBF, who is currently ranked by Forbes the 79th richest person in the world with an estimated real time net worth of $20.3 billion (as of 5 June 2022), has joined a host of other billionaires in pledging to give the majority of his wealth to philanthropic causes. The list of the pledge signatories\u00a0includes Richard and Joan Branson,\u00a0Ray and Barbara Dalio,\u00a0Larry Ellison,\u00a0Carl Icahn,\u00a0Meta Founder Mark Zuckerberg and his wife Priscilla Chan, Tesla and SpaceX CEO Elon Musk, and Coinbase CEO Brian Armstrong.<\/p>\n

The 30-year-old American has become one of the world\u2019s wealthiest individuals thanks to his equity stake in FTX. The exchange closed a $400 million fundraising at the beginning of the year, and now holds a valuation of $32 billion.\u00a0<\/p>\n

Here is what SBF wrote in his short Pledge Letter:<\/p>\n

\u201cA while ago I became convinced that our duty was to do the most we could for the long run aggregate utility of the world.<\/em><\/p>\n

\u201cIn the end, it\u2019s the work my friends and colleagues at foundations do that matters the most. A more just world would shine a brighter light on them. In this world, I\u2019m honored to be able to support their work.<\/em>\u201c<\/p>\n

SBF has been an active participant in philanthropy over the years, including giving a record-setting $12 million check to fund effective altruism-aligned political candidate Carrick Flynn, who lost in Oregon\u2019s congressional primaries last month.\u00a0<\/p>\n

His exchange has also played a role in funding charitable organizations. FTX Foundation, the philanthropic arm of FTX, \u00a0of aims to donate 1% of all net fees to \u201cthe world\u2019s most effective charities.\u201d <\/p>\n

<\/p>\n

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Disclaimer<\/h2>\n

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.<\/em><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Sam Bankman-Fried (SBF), Co-Founder and CEO of<\/p>\n","protected":false},"author":3,"featured_media":158857,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nFTX CEO Sam Bankman-Fried Becomes Latest Billionaire to Sign the \u2018Giving Pledge\u2019 - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/ftx-ceo-sam-bankman-fried-becomes-latest-billionaire-to-sign-the-giving-pledge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FTX CEO Sam Bankman-Fried Becomes Latest Billionaire to Sign the \u2018Giving Pledge\u2019 - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Sam Bankman-Fried (SBF), Co-Founder and CEO of\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/ftx-ceo-sam-bankman-fried-becomes-latest-billionaire-to-sign-the-giving-pledge\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-05T09:03:01+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2022\/06\/FTX-CEO-Sam-Bankman-Fried-Becomes-Latest-Billionaire-to-Sign-the-\u2018Giving-Pledge.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/ftx-ceo-sam-bankman-fried-becomes-latest-billionaire-to-sign-the-giving-pledge\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/ftx-ceo-sam-bankman-fried-becomes-latest-billionaire-to-sign-the-giving-pledge\/\",\"name\":\"FTX CEO Sam Bankman-Fried Becomes Latest Billionaire to Sign the \u2018Giving Pledge\u2019 - 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