Disgraced FTX founder Sam Bankman-Fried is no longer listed on Giving Pledge, the group of billionaires who promise to give away their fortunes
Jabin Botsford/Getty Images
- FTX founder Sam Bankman-Fried is no longer listed on the website for the Giving Pledge.
- The Giving Pledge is a collection of billionaires who promise to donate portions of their fortunes.
- After his dramatic financial collapse, Bankman-Fried has "next to nothing" left, per Bloomberg.
Bloomberg reports that Sam Bankman-Fried is no longer a member of the Giving Pledge, a promise by the uber-wealthy to give away at least 50 percent of their fortunes.
Bankman-Fried joined a number of high-profile billionaires, including Warren Buffet and Bill Gates, when he signed the Giving Pledge in June. But, after the dramatic collapse of his crypto exchange FTX, which led to his personal downfall, Bankman-Fried no longer has a massive fortune to give away.
Once worth $26 billion, Bankman-Fried has said his fortune is now worth "next to nothing," according to Bloomberg.
The disgraced FTX founder has fallen far from his once-lofty goals. When he initially signed the Giving Pledge, Bankman Fried wrote, "A while ago I became convinced that our duty was to do the most we could for the long run aggregate utility of the world." He continued, "In the end, it's the work my friends and colleagues at foundations do that matters the most."
Bankman-Fried was arrested in the Bahamas on Monday after the US announced it's charging him with eight counts related to fraud and money laundering. He's being held in the notoriously dangerous Fox Hill prison in the Bahamas after a Bahamian judge denied his request for bail on Tuesday.