Who is Sam Bankman-Fried?
Sam Bankman-Fried is a crypto millionaire thanks to his FTX exchange and Alameda Research trading firm.
Bankman-Fried is a successful entrepreneur, investor, who was once worth billions of dollars. Additionally, many will refer to him by his initials, SBF.
He is the Chief Executive Officer and founder of the cryptocurrency exchange FTX.US, as well as the bitcoin trading firm Alameda Research. As of 2024, he has an estimated net worth of $26 billion.
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Biography
Bankman-Fried was born on the Stanford University campus in 1992 to a Jewish family. He is the son of Stanford Law School professors Barbara Fried and Joseph Bankman.
Linda P. Fried, his aunt, is the dean of Columbia University’s Mailman School of Public Health. Gabriel Bankman-Fried, who is his brother, used to be a trader on Wall Street. He also used to run a non-profit called Guarding Against Pandemics and its political action committee.
Bankman-Fried participated in the Canada-USA Mathcamp, a summer program for academically gifted high school students. He went to Crystal Springs Uplands School in Hillsborough, California, for high school.
Bankman-Fried attended the Massachusetts Institute of Technology from 2010 to 2014. He lived in Epsilon Theta, a coeducational group home. He earned a bachelor’s degree in physics with a minor in mathematics in 2014.
Age and Birthday
In the year 2023, Sam Bankman will turn 31 years old.
Personal Life
Sam Bankman does not appear to have any children, and there is no information available about his relationship status. Although he is not married, but sources claim he was dating former Alameda Research CEO, Caroline Ellison.
Net Worth
In 2022, Forbes named Bankman-Fried “the world’s richest 29-year-old.” As of 2024, Sam has an estimated net worth of $26 billion.
Career
He went to MIT to study physics, but he was more interested in “effective altruism,” which is the idea that doing the most good is best.
This led him to take a job trading ETFs at a quant company, give some of his salary to charity, and then get into the cryptocurrency market late in 2017 when he saw a possible arbitrage opportunity.
By taking advantage of the higher price of bitcoin in Japan, he set up an arbitrage trade in 2018 to trade more than $25 in bitcoin every single day. Sam moved to Hong Kong as well in 2018 and later started FTX. Currently, this 2019-founded bitcoin derivatives exchange owns roughly 90% of Alameda Research.
Bankman-Fried launched his own exchange, FTX, in 2019. Its creation “by traders, for traders” made it one of the leading exchanges for buying and selling crypto derivatives.
FTX was one of the richest people under 30 in recorded history in 2021, when investors valued him at $18 billion. The exchange and its US operations were valued at $40 billion in January 2022.
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