FTX’s Sam Bankman-Fried and founders of 23andMe and Zynga promise to give away most of their money

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A politically active crypto billionaire, co-founder of a DNA testing company, and founder of a well-known videogame maker are the latest ultra-wealthy people who have publicly pledged most of their money.

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Sam Bankman-Fried, founder of the FTX crypto exchange; Anne Wojcicki, co-founder and CEO of 23andMe ME,
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, And Mark Pincus, founder and former CEO of Zynga, maker of FarmVille and other popular games, all signed the Giving Pledge last week.

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Pledge was launched by Microsoft MSFT in 2010,
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Co-founder Bill Gates and his then-wife Melinda Gates with their friend Berkshire Hathaway at BRK.A,
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CEO Warren Buffett. It was designed to encourage billionaires to publicly promise to give away most of their wealth during their lifetime or in their wills.

bankman-fried is Supporter of the effective philanthropy movement, which prioritizes giving money to the charities that have saved the most human lives on a per dollar basis. He has also been active as a political donor to Democrats, including President Joe Biden, and most recently to the Oregon candidate for the US House of Representatives.
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Banksman-Fried has an estimated net worth of $20.5 billion,

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Wojcicki had an estimated net worth of $1.1 billion as of 2021, according to Forbes, She does her charity through a foundation with her sister, Susan Wojcicki, who is the CEO of YouTube. Anne Wojcicki was once married to Google GOOG,
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Co-founder Sergey Brin. He co-founded 23andMe in 2006.

According to its most recent IRS filing, Wojcicki’s foundation paid out nearly $25 million in grants in 2019. Recipients include the Barack Obama Foundation, the Tony Blair Foundation, and Ashoka, a nonprofit whose mission is “to find and cultivate social entrepreneurs in every corner of the world whose systems-changing innovations solve deep social problems.” ,” according to the website.

Pincus, who has an estimated net worth of $1.4 billion, said in his give an affidavit That he wants to focus his attention on the climate crisis, among other issues. “With my free time spent at sea, I feel compelled to address climate change with the sea at the center. I hope that my children can live in a world that is regenerative, biodiversity, balanced and thriving. To this end, I plan to reduce and offset my family’s historical and future carbon footprint tenfold.

The Giving Pledge is a voluntary commitment, and those who sign it are not obligated to prove that they have followed through on their charitable plans. In some cases, billionaires’ fortunes have been rising so rapidly that they have become rich just after they promised to give up most of their money.

,[W]While few mortgagee sincerely intend to deliver on their promises, many are unable to do so because their assets are growing too fast,” the Institute for Policy Studies, a left-wing think tank wrote in 2020 when The Giving Pledge had turned 10 years old.

Credit: www.marketwatch.com /

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