Gen X CEO gives away $1.5B after $16B sale rejects billionaire lifestyle

Brian O’Kelley, a Gen X entrepreneur and former CEO of AppNexus, made headlines in 2018 when his ad-tech company was acquired by AT&T for $1.6 billion. Despite owning a 10% stake in the firm, O’Kelley chose to retain less than $100 million and donated the remainder to charitable causes. The decision, he explained, was rooted in a deeply personal philosophy: he “doesn’t believe in billionaires.” O’Kelley views the accumulation of such vast wealth as impractical and even “obnoxious,” arguing that it disconnects individuals from the everyday realities and constraints that define most people’s lives [1].

The entrepreneur described his post-sale decision as a deliberate and thoughtful process. Rather than embracing the common trajectory of luxury and excess—such as acquiring yachts or private jets—O’Kelley and his wife had what he called a “really interesting conversation” about how much money was truly necessary. They settled on a number, doubled it, and gave the rest away [1]. This strategy was not only about generosity but also about preserving a sense of normalcy. O’Kelley emphasized that keeping his wealth in check allows him and his family to remain grounded and accountable, making choices based on necessity rather than limitless options [1].

O’Kelley’s philosophy also extends to his concerns about the impact of extreme wealth on the next generation. He expressed discomfort with his children being exposed to a life of luxury, fearing that it could erode their understanding of struggle and responsibility. “I’ve flown all around the world in coach so many times,” he said. “This is me spoiling myself, but I don’t want to spoil my kids.” He wants them to experience the challenges he faced and to grow up with a sense of accountability [1].

His stance challenges the broader trend of wealth concentration. As of 2025, over 3,028 people are billionaires globally, with some experts predicting AI could usher in an era of trillionaires. O’Kelley, however, rejects the notion that such wealth is necessary or even beneficial. He argues that the trappings of extreme wealth—helicopters, superyachts, and islands—serve only to separate individuals from the fabric of normal life. “I don’t want to be without consequences,” he said. He believes life’s challenges are what give it meaning [1].

O’Kelley’s actions reflect a broader shift among some entrepreneurs to reframe success not in terms of accumulation but in terms of impact. While many of his peers may prioritize wealth maximization, he emphasizes living with intention and restraint. “The joy of appreciating what we have and making those hard choices is really foundational,” he said [1]. By setting a firm cap on his personal wealth, O’Kelley ensures that his decisions remain thoughtful and aligned with his values.

His story offers a compelling counter-narrative to the relentless pursuit of wealth that often dominates the business world. In an era marked by consumer excess and widening economic disparities, O’Kelley’s actions underscore the value of humility, accountability, and conscious living. His decision to give away the majority of his proceeds not only reflects his personal beliefs but also signals a broader rethinking of what it means to succeed in business and in life [1].

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[1] A Gen Xer sold his company for $1.6 billion. He kept less than $100 million and gave the rest away because he doesn’t ‘believe in billionaires’ (https://fortune.com/2025/08/15/a-gen-xer-sold-his-company-for-1-6-billion-he-kept-less-than-100-million-and-gave-the-rest-away-because-he-doesnt-believe-in-billionaires/)