PC: LinkedIn
When Brian O’Kelley sold his technology company for $1.6 billion, he had the chance to join the ranks of the world’s wealthiest entrepreneurs. Instead, the AppNexus co-founder chose to keep less than $100 million and give the rest away to charitable causes. AppNexus was acquired by AT&T in 2018, marking a major milestone for the company O’Kelley had helped build. The transaction was valued at $1.6 billion, putting a substantial sum within reach of its founders and investors. O’Kelley held a 10% stake in the business, but he did not intend to retain everything that came his way from the sale.
Now building another technology business, O’Kelley says he has no intention of becoming a billionaire, whatever his next venture earns. “I feel terrible because they get to fly business,” he says, adding at 6-foot-5, he does it for the comfort, but is uneasy about his children becoming accustomed to a life of luxury. The decision followed a conversation with his wife about how much money they needed to live comfortably, and it reflected a view he has since expressed openly: he does not believe people need billions to have a good life. His objection extends beyond the size of an individual’s bank balance. He believes that accumulating more money than a person could reasonably use can become wasteful, particularly when so many people lack the resources to meet basic needs. For him, the issue is also what happens when wealth removes the everyday constraints that shape people’s decisions. he does not want his children to grow up assuming that every luxury is normal or readily available Although his family can afford comforts that would be beyond the reach of many households. He has spoken about feeling uneasy when his children fly business class. At 6ft 5in, he appreciates the additional comfort himself, particularly after years of travelling in economy class. But he is conscious that his children have not necessarily experienced the same financial constraints that shaped his own life.
The business represents another chapter in his career, although he has said that its eventual success will not change his approach to personal wealth. O’Kelley has continued working in technology since the AppNexus acquisition. He is now building Scope3, a company that focuses on data related to emissions across the supply chain. He has indicated that even if Scope3 becomes immensely successful, he intends to give away the money rather than allow his fortune to grow into the billions. That commitment places a limit on what financial success means to him, at least in terms of personal accumulation.