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Agreed. There's also the question of the stopping point - or how do you balance earning vs giving. Some day SBF is still worth $900M. Is he giving that away? Pr
by googlryas 4y ago
Agreed. There's also the question of the stopping point - or how do you balance earning vs giving. Some day SBF is still worth $900M. Is he giving that away? Probably not, because he thinks it's easier to make a ton of money with a half ton of money. So he'll hoard his money in the hopes of making more money, but from the perspective of the starving person, his behavior is the same as a greedy billionaire who keeps their money for their own personal use.
For all his talk of altruism, what has he actually done so far? Compared with, say, Mackenzie Scott, who is actually putting her money where her mouth is?
From what little I could find, perhaps he has written $160M worth of grants, and it is questionable if those will even be paid out, or who they went to, or over what time period. So that is 0.6% of his wealth at peak.
For reference, people who make less than $30-50k/yr(who generally have a negligible net worth and are sustained by their income) donate on average 5%[0] of their income to charity each year. An average Joe or Jane appears to be literally 10x more altruistic than SBF from what I can find.
[0]https://www.definefinancial.com/blog/charitable-giving-statistics/ https://www.definefinancial.com/blog/charitable-giving-stati...