Sam Bankman-Fried accumulates $ 22.5 billion
Sam Bankman-Fried is the richest person in cryptocurrency, thanks to his FTX exchange and his trading company Alameda Research. According to Forbes, he has amassed a fortune of $ 22.5 billion and is even the richest person under 30 of all time, except for Mark Zuckerberg.
What is his background? Sam Bankman-Fried graduated from the Massachusetts Institute of Technology (MIT) with a physics degree in 2014. After graduating, he began his career as an exchange-traded fund (ETF) trader on Wall Street at Jane Street. Capital.
In 2017, he founded Alameda Research, a quantitative cryptocurrency trading company that today manages more than $ 2.5 billion. But the entrepreneur does not stop there and is launching his own cryptocurrency exchange platform in 2019 with the currency “an exchange built by traders, for traders”.
In July 2021, the FTX exchange raised $ 900 million from Coinbase Ventures and SoftBank for a record valuation of $ 18 billion, helping to make Sam Bankman-Fried one of the most popular under 30s. rich in history.
The bulk of his estimated $ 22.5 billion fortune is estimated to come from his stake in the FTX exchange and his shares of FTT tokens.
A simple and altruistic multi-billionaire
Despite his wealth, the 29-year-old Hong Kong-based entrepreneur seems rather low-key.
In an interview with the Nikkei Asia Review, Sam Bankman-Fried reveals that he swears by his vegan diet and shares an apartment with roommates. He wears T-shirts and shorts to work, and makes sure every room in his office, located in Hong Kong’s business district, has armchairs to sleep on.
He also explains that most of his wealth will end up being donated to charities by applying the “win-for-give” philosophy.
So far, Bankman-Fried has donated only about 0.1% of his fortune, to causes such as the fight against global poverty. However, the entrepreneur explained that his goal is to “get as rich as possible, then give it your all.” “
👉 To read on the same subject: FTX raises 900 million dollars for a valuation of 18 billion dollars
Receive a recap of crypto news every Sunday 👌 And that’s it.
About the author: Florent David
Engaged in the crypto ecosystem since 2017. I am particularly interested in decentralized finance (DeFi), Ethereum 2.0 and non-fungible tokens (NFT).
All articles by Florent David.