- Six new crypto billionaires join Forbes 400 ranking in 2021.
- Among the arrivals is Sam Bankman-Fried, the crypto’s wealthiest man.
More authorities are trying to recognize cryptocurrencies. Their rules directly or indirectly influence market movement. This movement impacts individuals in the space’s wealth as well.
Six new crypto billionaires join Forbes 400 ranking in 2021. These are all well-known crypto names. These six joins, Ripple co-founder from last year’s list. There are currently seven crypto billionaires on the list. This is the first time seven cryptocurrency millionaires have made the list of America’s wealthiest. Although none reached the top 100, the crypto industry’s development has increased their net worth.
According to a Forbes report published on October 5, crypto billionaires are valued at $55.1 billion. The additions join Ripple co-founder Chris Larsen. Larsen left Ripple in December 2016. But he’s still CEO. His net worth was $2.7 billion last year. His net worth is now about $6 billion. Despite the continuing legal fight between Ripple and the SEC, Ripple’s net value grew.
Among the arrivals is Sam Bankman-Fried, the crypto’s wealthiest man. Forbes estimates his net worth at $22.5 billion, almost half the entire crypto collective value. The 29-year-old is the list’s youngest billionaire under 30 since Mark Zuckerberg. Bankman-Fried is the founder and CEO of FTX. FTX’s $900 million Series B fundraising almost quadrupled his wealth. Most of his money is in FTX stock and tokens (FTT).
Coinbase co-founders Brian Armstrong and Fred Ehrsam are also included. Armstrong controls about 19% of Coinbase. Moreover, Ehrsam departed the business in 2017 but remained on the board. He co-founded and runs crypto-focused investment company Paradigm.
On the list are Cameron and Tyler Winklevoss, co-founders of the bitcoin exchange Gemini. They are each valued at $4.3 billion.
Finally, Jed McCaleb, an early blockchain pioneer, is a newbie on Forbes’ list. He co-founded and led Ripple until 2013. Mt. Gox was his first significant bitcoin exchange. Furthermore, his $3 billion net worth stems from his Ripple co-founder XRP shareholding.