- Vitalik Buterin earns $139,500 annually from Ethereum Foundation, a modest sum compared to his $1.5 billion net worth.
- Largest Ethereum Foundation spending goes to “New Institutions,” funding entities like Nomic and 0xPARC to support the Ethereum community.
Vitalik Buterin, recently revealed his annual salary from the Ethereum Foundation is 182,000 SGD, or about $139,500. This amount is relatively small compared to his personal net worth of $1.5 billion, as estimated by Forbes in 2022.
182,000 SGD per year
— vitalik.eth (@VitalikButerin) August 27, 2024
According to data from Arkham Intelligence, Buterin’s holdings in cryptocurrency are currently worth around $625 million.
Buterin’s revelation came amid a broader discussion about the financial operations of the Ethereum Foundation, prompted by an update from Josh Stark, a representative of the organization.
Stark detailed the foundation’s expenditure, highlighting that the largest portion of its budget is allocated to “New Institutions.”
This aims to foster new entities that could enhance the Ethereum community’s capabilities. Funding in this category is often extended to various organizations, including the Nomic Foundation and 0xPARC Foundation, which receive grants to support their development.
Updates from @0xstark on EF spending.
The key info is in this chart.
The "new institutions" category basically means @NomicFoundation, @TheDRC_ , @l2beat, @0xPARC etc – no World Economic Forum insect protein research here!
More info has been and will be published; see thread. https://t.co/sWVfQQ5XQF pic.twitter.com/FY2EPT7Wiz
— vitalik.eth (@VitalikButerin) August 27, 2024
Additionally, Stark shed light on the internal spending of the Ethereum Foundation, which encompasses its operational teams such as Geth, Solodigy, and Devcon. These groups are committed to transparency, regularly sharing updates on their activities through various public channels.
Externally, the foundation also dispenses numerous grants to support projects within the Ethereum ecosystem. In the first quarter alone, initiatives such as Xerxis, Espacio Cripto, ETHKL, Borderless Africa, and Nethermind were among the beneficiaries of these funds.
A notable instance was the foundation’s substantial transaction on August 23, 2024, which marked its largest transfer for that year.
However, Stark emphasized the transparency of these transactions, noting that the foundation’s treasury activities are clearly visible on-chain, allowing for straightforward verification of the origins of specific transfers.
