FTX Founder and CEO says he will donate up to $1 billion to fight against Trump in 2024 elections
Sam Bankman-Fried, founder and CEO of cryptocurrency exchange FTX, revealed that he could donate up to $1 billion to help influence US presidential election campaigns in 2024.
“I would say over $100 million. As for how much more of it, I don’t know. It really depends on what happens. It depends on who is running where and for what; these things are super contingent,” Bankman-Fried said on The Pushkin Industries podcast.
When asked if he would be prepared to donate $1 billion if former President Donald Trump decides to run again, the FTX leader said it “would be a reasonable thing to look into.”
“I’d hate to say a price cap… Who knows what’s going to happen from now on… But it’s going to be a kind of cap [on spending],” he said.
The 30-year-old billionaire, who has a Democratic bias, was among the top 20 donors to Joe Biden’s 2020 presidential campaign, allocating $5.2 million to help Biden secure a victory against Trump.
According to OpenSecrets, a website that tracks data on campaign finance and lobbying, a $1 billion donation would be the largest donation made during the 2020 presidential campaign by a large margin.
The biggest individual donors are Sheldon and Miriam Adelson, who supported the Republicans with a $218 million donation, and Michael Bloomberg, who donated $152 million to the Democrats.
He recently donated more than $10 million to support Carrick Flynn, a Democratic candidate in the Oregon congressional primaries last week, largely because Flynn wanted to focus on pandemic prevention. However, his candidate lost “wash out”.
“I drew a lot of conclusions from it and if I were to do it again, I would do it a little differently than I did last time. But basically, I believe it was a well-thought-out fundraiser,” he said.
“If you are going to donate to political races that you believe your candidate has a 99% chance of winning, you are definitely doing something wrong.”
Aside from his political preferences, Bankman-Fried also stressed that one of the most important issues is to prevent the next pandemic that, according to him, would cost “tens of billions of dollars”.
“I think I will look at far fewer political parties from that perspective and far more at sensible governance and announcements about things I care about most,” he explained.
For him, “the United States has both a great opportunity and a great responsibility to the world to lead the West in a powerful yet responsible way”, since everything the country does has “huge ripple effects on what the future could be”. ”, he added.
In April, the founder of FTX had stated that with the early detection and global reach of vaccines, the outcome of the next pandemic may not be as severe as the Covid-19 outbreak.