September 17, 2019

Britain's Youngest Billionaire Is Sending His Money to the Future

“Ben Delo founded a cryptocurrency startup five years ago — and now he’s the UK’s youngest billionaire.

The 35-year-old Brit founded BitMEX, a cryptocurrency trading company that hosted more than $600 billion in cryptocurrency trades in the past year. In 2018, BitMEX’s value was estimated at $3.6 billion; Delo owns 30 percent of the firm, which makes his net worth more than $1 billion.

This past month, he did something noteworthy: He promised to give much of his fortune away. Delo signed what’s known as the Giving Pledge, a commitment started by Bill Gates and Warren Buffett to encourage fellow ultra-wealthy people to “dedicate the majority of their wealth to giving back.” The most recent signatories to the pledge were announced this week.

While news that the UK’s youngest billionaire is committing to giving away at least half of his fortune is notable in itself, what’s really fascinating is where Delo is donating his money. Signatories to the pledge don’t have to announce where they’ll direct their donations, but Delo did. He wants to give to organizations that improve life on Earth for future generations — that is, the billions of people who don’t exist yet but who will (if we don’t screw up too badly). So far, he has funded research into preventing nuclear wars and into pandemic prevention and mitigation, as well as academic research into shaping the very long-term future.”

Read more

JJ Editor's Picks

"‘Great-power competition” is increasingly a central concern in Washington foreign-policy circles. The 2017 U.S. National Security Strategy warns that “China and Russia challenge American power, influence, and interests, attempting to erode..."

"Just to be sure I heard it correctly, I replayed former vice president Joe Biden’s eye-popping gaffe from Thursday night’s debate instructing poor parents to put the record player on to help their children learn. “#Record player” was trending on..."

"For many people, getting away from it all means decamping to a cabin in the woods or a house by the beach. Soon there may be another option: lifting off to a hotel serenely orbiting high above the planet. Though space hotels have long belonged..."

"I didn’t lead a life of any particular hardship growing up, but as a kid in New York in the 1980s, I did have to do without certain things that many of today’s middle-class parents deem essential — a yard, for example — and my dad tells me..."

"Not too long ago, the “gig economy” looked as if it just might be the future of work in America.The rapid rise of digital platforms that let people earn money by driving passengers, delivering groceries, walking dogs or running errands for..."

""The Goldfinch" has a painting at its center, but despite a classy palette of ingredients conjures a lifeless, disjointed picture. Adapted from a Pulitzer Prize-winning novel, the movie represents a transparent bid to bring the book's prestige..."

"To make sense of what's going on as Israelis head to the polls Tuesday, one would need to be part mathematician and part psychologist. Determining who will sit with who in a prospective coalition is like choosing sides at a schoolyard pick-up..."

"It’s humiliating to consider the things we know instead of the things we should know. I can’t tell you exactly how the Michigan Republicans are trying to illegally gerrymander their state, but I know why Lana Del Rey is angry on Twitter. So it..."