What Is Sam Bankman-Fried's Net Worth? All We Know!

Samuel Bankman-Fried is an American entrepreneur and investor who was born on March 6, 1992. He is the CEO and founder of the cryptocurrency exchange FTX. Alameda Research, a quantitative bitcoin trading firm he launched in October 2017, also handles assets.

Sam Bankman-Fried’s Net Worth

The quick answer is $22.5 billion dollars, but before we get into that, let’s take a closer look at how he managed to amass such a staggering amount of fortune.

What Is Sam Bankman-Fried's Net Worth? All We Know!

He is currently ranked as one of the richest persons in the world.

Early life

Bankman-Fried, the son of Stanford Law School professors Barbara Fried and Joseph Bankman, was born on the Stanford University campus in 1992. When he was about 14 years old, his mother noticed that he had developed an interest in utilitarianism. Later, he attended Canada/USA Mathcamp, a summer programme in Canada and the United States for mathematically bright high school kids.

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From 2010 to 2014, Bankman-Fried attended the Massachusetts Institute of Technology.

He lived in Epsilon Theta, a coeducational group home there.

He wrote on utilitarianism, baseball, and politics on his blog in 2012.He earned a physics degree with a minor in mathematics in 2014.

Career

Bankman-Fried started trading foreign ETFs at Jane Street Capital, a proprietary trading firm, in the summer of 2013. He started as an intern and then went full-time following graduation.

Bankman-Fried left Jane Street in September 2017 and relocated to Berkeley, where he worked as director of development for the Centre for Effective Altruism from October to November 2017.

What Is Sam Bankman-Fried's Net Worth? All We Know!

To take advantage of the greater price of bitcoin in Japan compared to America, Bankman-Fried conducted an arbitrage trade in January 2018, moving up to $25 million per day.

Bankman-Fried, along with other industry executives, testified before the Committee on Financial Services on December 8, 2021, in regards to cryptocurrency regulation.

Bankman-Fried was reported to have purchased 7.6% of Robinhood Markets Inc. stock on May 12, 2022.

Personal life

Bankman-Fried follows a vegan diet. He frequently sleeps at his office, close to his computer, on a bean bag chair. He makes sure that there are bean bag seats in every room of his office. He has roommates in his apartment. He currently resides in the Bahamas. He hardly ever drinks or takes vacations.

Bankman-Fried identifies as a “Benthamite” and a “total, act, hedonistic/one level (as opposed to high and low pleasure), classical (as opposed to negative) utilitarian” in terms of morality.

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Philanthropy

Bankman-Fried believes in effective altruism and seeks an altruistic career of earning to give. He is a member of Giving What We Can and intends to give away the vast bulk of his wealth to good causes throughout his life.

What Is Sam Bankman-Fried's Net Worth? All We Know!

His firm, FTX, has a policy of donating 1% of its profits to charity.

Protect Our Future PAC received its first financial contribution from Bankman-Fried in 2022. According to Politico, Protect Our Future began as a Democratic political action committee with $10 million in initial fundraising, with the goal of supporting “lawmakers who play the long game on policymaking in areas like pandemic preparedness and planning.”