Seven crypto billionaires built their fortune in the world of cryptocurrencies to make it to the list of Forbes 400 richest people in America. This also marks the first time a total of seven billionaires from the crypto world making it to the Forbes 400 list.
The crypto billionaires are worth a combined fortune of $55 billion and the list includes six newcomers and one veteran.
They are none other than FTX’s Sam Bankman-Fried, Coinbase’s Fred Ehrsam and Brian Armstrong, Gemini’s Cameron and Tyler Winklevoss, and Ripple and Stellar co-founder Jed McCaleb. Veteran Chris Larsen, the co-founder of Ripple, has once again made the list after more than doubling his 2020 net worth from $2.7 billion to $6 billion in 2021.
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Here’s the complete list of the new billionaires with their net worth.
Sam Bankman-Fried is crypto’s richest billionaire with an estimated net worth of $22.5 billion. He is the richest billionaire under 30 since Mark Zuckerberg, according to Forbes.
Net worth: $22.5 billion
Brian Armstrong is the CEO and co-founder of the largest crypto exchange in the U.S, Coinbase, he has an estimated wealth of $11.5 billion and owns an estimated 19% in Coinbase.
Net worth: $11.5 billion
Chris Larsen is the only veteran on the list, he is the co-founder and chairman of Ripple who grew his fortune by $3.3 billion as the XRP token soared in value. His net worth is $6 billion.
Net worth: $6 billion
Last year: $2.7 billion
Cameron Winklevoss and Tyler Winklevoss
The Winklevoss twins are the founders of crypto exchange Gemini and each is worth an estimated $4.3 billion.
Net worth: $4.3 billion each
Also a co-founder of Coinbase along with Armstrong, Ehrsam left the exchange in 2017 and now works for crypto investment firm Paradigm. His estimated net worth is $3.5 billion.
Net worth: $3.5 billion
Also a co-founder of Ripple and Stellar.
Net worth: $3 billion
Why is the news such a joyous moment for the crypto world?
The seven crypto billionaires’ presence on Forbes’ list reflects the growing popularity of cryptocurrency in mainstream culture as digital currencies have set new price records. Ripple’s Larsen was the only crypto billionaire featured on last year’s Forbes richest list and this year, the number increased exponentially.
With more names from the crypto world expected to join the list with growing interest in cryptocurrencies, do you have any predictions for next year’s Forbes 400 list?
P.S: KuberVerse is an educational initiative. Anything expressed here directly or indirectly is not investment advice. And we ask you to do your own research before investing.