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BitMEX Billionaire Co-Founder Joins Gates-Buffett Charity

BitMEX Billionaire Co-Founder Joins Gates-Buffett Charity

BitMEX billionaire co-founder Ben Delo has come onboard ‘The Giving Pledge‘ non-profit initiative for the mega rich founded by philanthropists Bill and Melinda Gates and investor Warren Buffett.

Ben Delo, billionaire co-founder of crypto derivatives exchange BitMEX, has pledged to donate the majority of his wealth to global challenges.

The 35-year old co-founder of one of the biggest Bitcoin derivatives platform in the world, has pledged to give most of his wealth to the charity, hoping to provide the funding to catastrophes such as nuclear wars and extreme climate crises. It also funds the ever-growing threats from emerging tech such as “engineered pandemics and advanced AI”, according to CoinDesk.

In a note on the charity’s website, Delo stated a series of concerns:

“Nuclear security cannot be taken for granted. The prospect of extreme climate change is real. Looking forward, advanced technologies such as artificial intelligence and synthetic biology will pose new and complex challenges.”

He explained his choice of focus, saying in summary the he believed that “all lives are valuable, including those of future generations”. He spoke of a “vast and extraordinary future”that lay ahead should humankind be able to “navigate the challenges and opportunities posed by new technologies in the upcoming century”.

The BitMEX billionaire isn’t the first of the wealthy crypto-sphere to join the ultra rich in donating to The Giving Pledge. Last year, Brian Armstrong from Coinbase also backed the funding for education and other causes.

The charity has described itself as “an effort to help address society’s most pressing problems by inviting the world’s wealthiest individuals and families to commit more than half of their wealth to philanthropy or charitable causes either during their lifetime or in their will”.

 

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Former Oxford Grad becomes UK’s First Bitcoin Billionaire at $3.6 Billion

An Oxford graduate living in Hong Kong has been identified as Britain’s youngest Bitcoin billionaire at the age of only 34, according to the Mail Online.

Ex-student Ben Delo founded crypto company BitMex, a trading platform created by a selection of finance, trading, and web-development experts, in 2014 and has subsequently amassed a fortune of $3.6 billion along with his co-founders.

Delo, who studied maths and computer science at Worcester College, Oxford and graduated in 2005 with a first-class degree, said that he worked 18 hour days to build up his platform renting out spare bedrooms on Airbnb and creating a space in his living room to make extra money.

After a spell in the City of London, he moved to Hong Kong to take a position with JP Morgan prior, to starting up his platform with Samuel Reed, a computer programmer.

Like something from a Howard Hughes biography, Delo certainly hasn’t let things go to his head though, reportedly living a frugal life in Hong Kong with his wife Pan Pan Wong, to the extent that he and his wife use food vouchers to buy food at McDonald’s. His aim is to be a Bill Gates style philanthropist donating most of his wealth to worthy causes.

There are other young entrepreneurs who are rapidly following in Delo’s footsteps who may not be a billionaire just yet but are well on the way.

At only 23 Charlie Shrem owns Evr, one of Manhattans most famous gastropubs, renowned for being one of the first establishments to accept Bitcoin for food and drink in New York. He is also a BitAngel, an investment group created to invest in Bitcoin startups.  Shrem made his initial fortune buying thousands of bitcoins at $20 each in 2011 and is thought to be worth $450 million.

At the young age of 24 Vitalik Buterin, co-founder of Ethereum has a net worth conservatively estimated to be around $450 million, although, in a recent interview with Forbes, Buterin stated that he now owned less than 0.4% of the company.

At the top of the Bitcoin Billionaires club would be the enigmatic creator and developer of Bitcoin who reportedly owns an estimated 1.1 million bitcoins.

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