The estimated net worth of Sam Bankman-Fried is $22.5 billion.
Sam is best known as the creator of the highly successful crypto futures exchange FTX.
Crypto has come a long way in just the past few years and Sam got in the best time placing him among the top 400 richest people in the world.
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Sam was born to two Stanford Law professors, one who specializes in tax law and the other who specializes in economics and philosophy.
While that may have given him the genes for finance, he was not a fan of education in his younger years. Math camp during middle school, however, flipped the switch.
Sam Bankman-Fried’s Education
Sam graduated at the top of his class from high school and went on to enroll in MIT. He obtained a degree in advanced physics during his time there.
He also became a part of the fraternity Epsilon Theta and later went on to discover the benefits of effective altruism.
How did Sam Bankman-Fried build his net worth?
The short answer is $22.5 billion dollars, but let’s take a deeper dive into how he amassed his dramatic level of wealth.
Jane Street Capital
Wall Street is where millionaires can be made overnight with the right stock picks.
For Sam, he went into his job at Jane Street Capital with the plan of using a generous portion of his large paycheck to invest back into key charities and causes.
He persevered in his position and in fact, donated to several causes during his time on Wall Street while also growing his bank balance.
One of his friends got into the cryptocurrency game early on, but while he found it mildly interesting, he didn’t dive in at that time.
That changed in 2018 when he and Gary Wang founded FTX. Of course, the rest is nearly history.
As cryptocurrency took off Same and Gary built up the exchange in various parts of the world to allow users to buy and sell their digital currency securely.
While he remains the youngest billionaire in the world, he actually plans to donate the bulk of his wealth to various altruistic causes.
He also is one of the top contributors to the Joe Biden election campaign among other notable contributors.
Sam Bankman-Fried’s Productivity Habits & Main Personal Strengths
Sam Bankman-Fried’s net worth is so high due to his wizardry with numbers and cultivating the market at just the right moment.
He also practices effective altruism which is mainly the philosophy of improving the world as a whole through researched actions.
He makes a point of earning with the plan of giving back.
This plan not only boosts his own wealth but also improves the stakes of specific groups chosen for investment.
How Rich is Sam Bankman-Fried?
He happens to be one of the richest people in the world at a valuation of just over $22.5 billion dollars.