Coinbase CEO Brian Armstrong joined other billionaires who had promised to give away at least half of their vast wealth to philanthropic causes.
“Once a certain level of wealth is reached, there is little additional utility from spending more on yourself. Whether it’s through improving education, creating a more level playing field, or increasing economic freedom, I’m interested in helping more people see their ideas come to fruition in the world,“ Armstrong said In a blog post on the website of The Giving Pledge, a campaign founded by Bill Gates and Warren Buffet to encourage wealthy people to contribute a majority of their wealth to philanthropic causes.
Brian Armstrong did not mention what proportion of his wealth he had committed to donate:
“I started my first philanthropic effort, GiveCrypto.org, which makes direct cash transfers to people living in poverty. I’m excited about the potential for this organization to help people, but I’m still early on my journey of discovering how to have the most impact via philanthropy.”
The Giving Pledge is a campaign to encourage wealthy people to contribute a majority of their wealth to philanthropic causes. As of 2018, the pledge has 186 signatories, either individuals or couples, from 22 different countries.The organization’s stated goal is to inspire the wealthy people of the world to give at least half of their net worth to philanthropy, either during their lifetime or upon their death. The pledge claims to be a moral commitment to give, not a legal contract.