The Skype co-founder keeps his immense fortune in Bitcoin and cryptocurrency, and he’s living it well!
Rich, but mostly in cryptos – Although less well known than his counterpart, Elon Musk, Jaan Tallinn is nonetheless an engineer turned genius entrepreneur. Astonishing fact: It turns out that Tallinn retains much of the fortune it has built in Bitcoin Circuit platform.
A generous donor in cryptocurrency
Jaan Tallinn is the co-founder of the social network Skype , created in the early 2000s, before being sold to the eBay group in 2005, then acquired by Microsoft in 2011. This engineer of Estonian origin is now at the head with a personal fortune estimated at 900 million dollars .
In a recent interview with the Forbes newspaper, we learn that Jaan Tallinn has been a crypto HODLer for some time, having made very large donations in cryptocurrency over the past 2 years.
He poured these gifts to society Faculty AI , based in London, focusing on machine learning systems (machine learning) serving businesses and governments.
Jaan Tallinn would have thus, initially, given 350 ethers (ETH) to Faculty AI in January 2018. These ETH had a value then of approximately 435 000 dollars . He again made a donation to this company more recently, in March 2020: 50 bitcoins this time, or nearly $ 315,000 at that time.
A crypto-HODLer who cares about the appearance of a Skynet, Terminator style
Even though his donation aims to limit the risks associated with currently existing AI (artificial intelligence) systems, Tallin hopes that this will also limit the possible negative effects of the birth of an AI that exceeds human intelligence:
“(…) It might also make it safer to deploy something smarter than us. “
The almost billionaire also explains that, if he made his donations in ethers and bitcoins , it is because he keeps the majority of his heritage in this form. In addition, converting these cryptos into fiat currencies would have resulted in unnecessary taxation (which would have reduced the amount of his donations).
Even if this type of donation has been an “accounting puzzle” according to Marc Warner , founder and director of Faculty AI, the company is happy to have kept a good part of it in its books of account. She would have sold only $ 144,000 in ethers between March 2019 and March 2020.
Holding cryptocurrencies over the long term seems to have benefited both Jaan Tallinn and the society that benefited from his generosity. The latter thus has good reserves to finance its future research on AI and machine learning .