Coinbase CEO Brian Armstrong has a net worth of several billion dollars, but don’t expect him to donate to charity or do any kind of philanthropy anytime soon.
During a recent interview, Armstrong explained why he has no interest in starting a charity foundation, as he claimed that philanthropies and charities are “actually a net negative” for the world.
Billionaire Brian Armstrong
Brian Armstrong co-founded Coinbase and has served as the company’s CEO since June 2012, becoming a billionaire and ranking No. 422 on Forbes’ 2026 Billionaires list. His wealth has grown substantially in recent years, particularly since the company’s 2021 Nasdaq debut, and Armstrong is now one of the crypto industry’s most prominent figures.
Back in 2018, Armstrong signed Warren Buffett and Bill Gates’ Giving Pledge, which is a public promise by the world’s wealthiest individuals to give away at least half of their net worth to philanthropic causes during their lifetimes or in their wills. At the time, he was the first crypto billionaire to join the initiative, as he argued that when someone’s wealth reaches a certain point, there’s little utility in spending it on yourself.
In 2023, however, Armstrong closed his nonprofit, GiveCrypto, and in 2024, he quietly left the Giving Pledge. Now, some recent comments from Armstrong explain that decision.
‘Actually a net negative on the world’
During a recent appearance on The Katie Miller Podcast, Armstrong explained that he actually thinks charity and philanthropy are a “net negative” on the world.
“The common view is that philanthropy is a noble cause. And like, Bill Gates after the DOJ thing is like, ‘I’m going to go rehabilitate my image, I’m going to do philanthropy,'” Armstrong said during the interview.
Armstrong, however, does not see it that way, as he thinks that these foundations and charities can get “captured by ideology.”
“I guess I have sort of a contrarian view where a lot of charities and philanthropies are actually net negative on the world. And they get captured. It’s actually remarkably hard to find a foundation that has not gotten captured by ideology,” Armstrong said. “I think a lot of people, by trying to do something good, like criminal justice reform, it turns out they just increased crime. All these unintended consequences happen.”
As a result, Armstrong has no plans to start a charity or a foundation.
“So far, I’ve just been like ‘I’m not going to do that.’ My fear is that it just gets captured by some ideology and I lose control over it,” he said. “If you look at the Ford Foundation, I think Henry Ford would be turning over in his grave if he knew what they were up to.”
Instead, Armstrong said that he has a donor-advised fund where he tries to put his money toward things that he believes are “helping civilization advance.”
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