- Vitalik Buterin revealed that the Ethereum Foundation pays him an annual salary of around $140,000.
- The Ethereum Foundation’s annual budget has jumped from $41 million in 2021 to around $100 million this year.
- Buterin’s on-chain holdings are valued at around $632 million, with over 99% of his portfolio’s value stemming from Ethereum.
Vitalik Buterin said on Tuesday that the Ethereum Foundation pays him around $140,000 per year. The disclosure comes as the nonprofit releases a new report detailing its budget and expenses.
Buterin’s Role and Salary
Buterin co-founded the Ethereum Foundation in 2014. The organization supports Ethereum development through research, grants, and events.
On Twitter, Buterin shared that he earns 182,000 Singapore dollars annually from the Foundation, which equates to about $140,000. He sits on the nonprofit’s executive board along with two other members.
Foundation’s Funding and Spending
The Ethereum Foundation has faced recent scrutiny over its use of funds. Last week, it moved about $94 million in ETH to the Kraken exchange.
Executive Director Aya Miyaguchi then tweeted that the Foundation has an annual budget of around $100 million, mostly for grants and salaries.
Miyaguchi said the Foundation had been advised this year not to engage in “treasury activities” due to regulatory issues.
Previous Government Investigation
Earlier in 2024, the Foundation had indicated it was being investigated by a “state authority.”
A lawsuit claimed the SEC was probing Ethereum. While the plaintiff said the investigation ended without charges in June, the SEC then sued the plaintiff over alleged securities violations.
Prior Spending Report
The Foundation’s last spending report came in 2022. It showed $48 million in expenses for 2021.
The report said the Foundation’s treasury held around $1.6 billion in assets, mostly from crypto.
Upcoming Report and Breakdown
Josh Stark of the Ethereum Foundation addressed questions around the nonprofit’s spending. He said a full report covering 2022 and 2023 will come out before an upcoming conference.
Stark drew a distinction between internal spending on research versus external grants to projects. The grants aim to support the Ethereum ecosystem over the long term.
Comparison to Other Crypto Figures
Despite Ethereum’s $310 billion market cap, Buterin’s salary pales compared to other crypto leaders. For example, Coinbase’s CEO earned $4.7 million in 2023 compensation.
Buterin’s Overall Wealth
Buterin has still amassed wealth from Ethereum’s growth. Analytics firm Nansen estimated his net worth at over $1 billion in April 2024, based on his crypto holdings.
Currently, Buterin holds an estimated $632 million in on-chain assets, over 99% of which is ETH.
