Sam Bankman-Fried Could Donate Up To $1B In 2024 U.S. Presidential Election

Sam Bankman-Fried, the Founder of crypto exchange FTX said he might donate up to $1 billion in the 2024 U.S. presidential election.

Bankman-Fried was interviewed on the Pushkin podcast “What’s Your Problem?” The FTX Founder revealed that plans to spend over $100 million on future political campaigns. According to him, this number would represent a “soft ceiling” for his donations.

Bankman-Fried, who is an effective altruist, has a net worth of $20 billion and has already made $200 million worth of donations. Majority of the donations has gone to political efforts: this year he donated $23 million to a single Political Action Committee (PAC).

Bankman-Fried’s political donations have reeled in mixed results. He was one of the single-largest donors backing President Joe Biden’s victorious 2020 campaign. However, his backed candidate in an Oregon congressional primary was trounced last week regardless of receiving $11 million in Bankman-Fried PAC money.

The FTX boss commented on the 2024 presidential spending:

“It’s going to depend on who is running. I’m going to be looking a lot less at political party from that perspective and a lot more about sane governance.”