We have a powerhouse duo and that is billionaire philanthropist John Arnold and Michael Faye, the cofounder of GiveDirectly. John was an early employee at Enron, becoming a millionaire in his mid-20’s before starting his own hedge fund. After retiring from finance, he has been operating full time at Arnold Ventures, his philanthropic foundation. Michael Faye holds a PhD in Economics from Harvard and has founded multiple philanthropic organizations that focus on getting money into the hands of those who need it most. GiveDirectly has support from billionaires like John, Reid Hoffman and others. This was an amazing opportunity to seek to learn about the philanthropic world through the challenges John has faced and the solutions Michael has implemented. IN THIS EPISODE, YOU'LL LEARN: 0:00:00 - Intro 0:02:30 - John Arnolds’s relationship with money 0:05:29 - John’s early career that led him to become the youngest billionaire in the US in 2007 0:06:54 - His experience as an early employee at Enron, becoming the head of their natural gas trading desk 0:12:56 - Enron Online 0:15:20 - His journey in founding his own hedge fund Centaurus Advisors, LLC 0:17:29 - John Arnold realizing he is the youngest billionaire in the U.S. 0:20:56 - Does John Arnold still trade? 0:23:29 - Philanthropy 0:27:52 - Biggest challenges John Arnold experienced in his philanthropic career 0:34:14 - What led Michael to cofound GiveDirectly 0:36:08 - GiveDirectly Kenya and Atlanta 0:40:20 - Donor advised fund 0:44:10 - Why John Arnold partnered with GiveDirectly 0:45:35 - How GiveDirectly operates and why it’s important to start your own philanthropy efforts today 0:48:34 - Cryptocurrency and Philanthropy 0:50:09 - Printing of money and global poverty ☕ Get the freshest roasted and ethically sourced beans from America’s best local roasters with Trade Coffee. Plus, a total of $30 off your first order and free shipping — that’s more than 40 cups of coffee for free! To get started, take the quiz at https://drinktrade.com/TIP, and start the journey to your perfect cup. ✔️ Subscribe to Bitcoin Fundamentals/We Study Billionaires podcast show: https://open.spotify.com/episode/2xri5CpS0hB3tFxfdDiANd 🖊️ Access our free show notes and transcript here: https://www.theinvestorspodcast.com ▶️ PAST EPISODES MENTIONED - TIP340: Hedge Funds, SPACs, And Chocolate W/ Jason Karp - https://youtu.be/9LB1CNmOvBo - How to Be Healthy, Wealthy, and Happy w/ Tony Robbins (RWH001) - https://youtu.be/ILCjyIpZ7yY 💡OTHER RESOURCES - Arnold Ventures' Website - https://www.arnoldventures.org/ - GiveDirectly - https://www.givedirectly.org/WSB/ - listeners get their first gift to people in extreme poverty matched up to $1000 - Michael's op-ed on Foundations / DAFs - http://GiveDirectly.org/DAFs - John Arnold’s Twitter Account - @JohnArnoldFndtn - Michael Faye’s Twitter Account - @MichaelLFaye - Trey's Twitter Account - @TreyLockerbie ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ LISTEN 🎧 TO OTHER SHOWS FROM OUR NETWORK: ₿ If you're interested in Bitcoin, checkout our Bitcoin Fundamentals podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F8wOLjjwNCM5B1qFdrtTdTZ 📚Dive into value investing and learn more about billionaires with our We Study Billionaires podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F9dDPFYGAHRbrWoToCe2uoU 🏘 Learn the ins and outs of real estate investing with our Real Estate 101 podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F8Yw_8xO2nk-RD7fhb3yktn 💸Get introduced to the world of investing with our Millennial Investing podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F_p00VYv3psJ8rhDAGOvR5W ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ FOLLOW US ON SOCIAL MEDIA📱: 💻 Facebook: https://www.facebook.com/groups/theinvestorspodcast 👔 Linkedin: https://www.linkedin.com/company/the-investor's-podcast 🐦Twitter: https://twitter.com/tip_network ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ Download Stig & Preston's 1-page checklist for finding great stock picks: https://www.theinvestorspodcast.com/form-youtube-checklist/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.