The FTX CEO believes that billionaires should pay more tax as they profit from their investments.
Sam Bankman-Fried, the CEO of FTX, believes billionaires should pay a higher tax rate. He also said he would donate “nearly all” of his earnings to charity.
Previously this year, the U.S. government thought about a new tax rule. It looks good on paper like it will help the economy and bring in new money for the state.
However, most of the rules are aimed at the wealthiest people. More than 600 American billionaires will have to pay an extra tax if the bill is passed.
CNN recently talked to Sam Bankman-Fried, the billionaire founder of FTX. He said he was in favor of the idea. Even though he said he wasn’t an expert in the field, he said that charging more money to people like “would be reasonable.”
The 29-year-old, who is known as the wealthiest billionaire under the age of 30, said that charity events were more important than taxes. He said he would give “almost everything” he earned in life to charity. The boss of FTX said:
It is our responsibility to give back not just for our benefit but also for the sake of our reputation. We must reciprocate by assisting the globe.
Vitalik Buterin is another crypto millionaire under the age of 40. He gave 50 trillion SHIB tokens to the India Covid Relief Fund in May this year, and such a large number of tokens was worth around a billion dollars at the time.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.