Billionaire Coinbase CEO Boasts That He Would Never Donate to Charity
He called it a "net negative on the world." The post Billionaire Coinbase CEO Boasts That He Would Never Donate to Charity appeared first on Futurism .
In the United States, historically, wealthy individuals, despite their personal flaws, have participated in philanthropy to quell public discontent. Noteworthy examples include Andrew Carnegie, who built libraries, John D Rockefeller, who funded research that led to the eradication of hookworm, and JP Morgan, who donated extensive art and book collections to museums and cultural institutions.
However, the modern-day "robber barons" are not embracing a philanthropic spirit. While some figures like Microsoft's Bill Gates continue to be active, they appear to be the exception rather than the rule. During an appearance on the right-wing Katie Miller Podcast, Coinbase CEO Brian Armstrong expressed his disdain for charity, labeling it as "a 'net negative on the world'."
Armstrong, whose net worth is estimated at around $8.7 billion, placing him in the top 1 percent of the top 1 percent, stated that he has no intention of engaging in philanthropic activities. He believes that many charities and philanthropic organizations inevitably become "captured by ideology."
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