BeyondMoney
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BeyondMoney

7 new Crypto Billionaires on Forbes 400

Forbes tracked more than 400 new billionaires in 2021, with an estimated collective net worth of more than $1 trillion.

That’s out of a total population of more than 2,600 billionaires globally worth nearly $14 trillion as of December 17.

Probably the most noteworthy takeaway from the 2021 list was that a new class of billionaires continued to emerge throughout 2021.

They’re called crypto billionaires.

So, here’s the list of the new crypto ultra-rich in the US that made a list for the first time:

Sam Bankman-Fried ($22.5 billion)

Sam Bankman-Fried is the founder of cryptocurrency exchange FTX. It’s projected that the crypto group of the Forbes 400 is worth $55.1 billion. FTX’s 29-year-old CEO owns over half of it with a net worth of $22.5 billion. Most of his money is invested in FTX’s stock and tokens (FTT).

Brian Armstrong ($11.5 billion)

A year after Coinbase had a successful public debut, its CEO and co-founder, Brian Armstrong, has steadily increased his wealth. Coinbase is reported to be 19 percent owned by Armstrong.

Chris Larsen ($6 billion)

Ripple co-founder, Brad Garlinghouse, raised his wealth by $3.3 billion. The XRP token’s value grew despite the settlement in the legal fight with the SEC charging Ripple of securities law breaches.

Tyler Winklevoss and Cameron Winklevoss ($4.3 billion each)

Crypto entrepreneurs Cameron and Tyler Winklevoss each have an estimated $5 billion fortune. That is primarily due to their early purchasing of Bitcoin and their stakes in crypto exchange Gemini, which will go public soon.

Fred Ehrsam ($ 3.5 billion)

Ehrsam had co-founded Coinbase with Brian Armstrong in 2012 but left the exchange in 2017. He led crypto-focused investment firm Paradigm, and he helped build three well-known crypto businesses, including Ripple and Mt. Gox. As a co-founder of Ripple, McCaleb’s XRP holdings account for the majority of his net worth.

Jed McCaleb ($ 3 billion)

A pioneer in the blockchain space, McCaleb helped launch Ripple, Stellar, and Mt. Gox. McCaleb’s wealth, estimated at $3 billion, is mainly aligned to his XRP stake as a Ripple co-founder.

Another noteworthy crypto billionaire who frequently keeps falling in and out of the list is:

Vitalik Buterin

Vitalik is the Canadian-Russian founder of the blockchain platform Ethereum and its cryptocurrency, Ether, the second-largest cryptocurrency. He has an estimated net worth of $1.3 billion.

Final Thought

One of the crucial factors that led to these new crypto additions to the Forbes 400 list was increased institutional investors’ interest in digital currencies.

But this may be only the beginning. Circle, Karen, Ripple, BlockFi, & eToro are among the companies in the field that have declared or hinted at ambitions to go public. The value of prominent private companies in the area will soar due to the influx of venture capital firms, including Andreessen Horowitz’s $2.2 billion crypto fund.

These entrepreneurs and investors have been in the space for a long time and passionately kept building the future of money.

It’s a victory for the strongest hands.

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