Telegram founder Pavel Durov: Holding billions of dollars in Bitcoin for a decade, Telegram does not need financing

Telegram founder and CEO Pavel Durov revealed in an interview with renowned journalist Tucker Carlson on April 18th that he has been holding hundreds of millions of dollars worth of fiat currency and Bitcoin for the past 10 years.

Founder Pavel Durov: Telegram Does Not Need Funding

According to an interview compiled by The Block, Pavel Durov was asked why he does not accept venture capital funding, to which he replied:

The company wants to remain independent and has never been about the money. I have had hundreds of millions of dollars in bank accounts and bitcoin for 10 years, but I haven't spent that money. I don't own any real estate, private jets, or yachts. I don't think that lifestyle is for me. I prefer to focus on what Telegram is doing.

Pavel Durov did not specify the exact breakdown of his holdings in bitcoin and fiat currency. According to reports from foreign media, his net worth in 2023 is $7.5 billion, which includes bitcoin, TON, and Telegram shares.

He emphasized:

For me, I would rather choose to spend money on building a communication software that impacts a billion people, rather than buying expensive furniture that only my relatives and friends would see.

He also clarified that Telegram did accept some external funding after issuing bonds three years ago and attempted to raise funds through an ICO, but eventually abandoned the idea due to SEC involvement.

Telegram Settles with SEC! Required to Pay a $18.5 Million Fine and Must Notify Before Issuing Any Coins Within Three Years

Ep. 94 The social media app Telegram has over 900 million users around the world. Its founder Pavel Durov sat down with us at his offices in Dubai for his first on-camera interview in almost a decade. pic.twitter.com/NEb3KzWOg8

— Tucker Carlson (@TuckerCarlson) April 16, 2024

Committed to Communication Privacy Protection

Tucker Carlson then raised the issue of increased government surveillance of technology, making private message privacy more challenging.

Pavel Durov mentioned that he has previously encountered cases where the FBI tried to convince Telegram to install backdoors for monitoring purposes, but he remains optimistic about the future of communication privacy:

I predict that in the future, new secure communication hardware devices can be developed, similar to hardware wallets now used for storing cryptocurrencies. Perhaps we will have such devices in the future, and this is not difficult to achieve.