Before his company’s cash crunch, Bankman-Fried was worth an estimated $15.2 billion but, according to Bloomberg, $14.6 billion was wiped out overnight. Bankman-Fried’s rapid rise to financial success, combined with his relative youth and eccentric personality – including his supposed penchant for sleeping on a beanbag in his office – made SBF one of the darlings of the crypto industry.
A self-described “effective altruist,” Bankman-Fried made big promises earlier this year to donate the majority of his fortune, at the time valued at $21 billion, to charity. He also promised to spend up to $1 billion to support political candidates aligned with his broader mission of preparing for future pandemics.
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