Ripple’s Founder, Chris Larsen, has made a bit of history by being the first ever crypto billionaire to make the famous Forbes 400 rich list with a value of $2.1 Billion solely amassed from cryptocurrency.
Forbes released the 400 last week, with the usual figures dominating the list, except for a few surprises such as Larsen, who steals into the 383rd slot even after a bearish year for Ripple, which deflated from its high of $2.39 to its current $0.47 at press time.
This year sees Jeff Bezos shoot up first to the top of the rankings, to displace Microsoft Founder and CEO, Bill Gates, who has held the position for 24 years. Joining Larsen on the choice list for the first time is also the CEO of Dropbox, Drew Houston.
It appears the already rich magnates just keep getting richer, with this year setting another higher threshold than the last ($2.1 billion); the average net worth also hitting $7.2 billion, an increase of more than $500 million compared with last year.
It gets more interesting with Credit Suisse reporting an estimate of the world’s richest one percent, which was revealed to be worth more than half of the total global wealth already.
Larsen’s Wealth as Volatile as the Ripple
With his wealth solely estimated based on his crypto-riches, the Billionaire would have been considered a lot richer if XRP had performed better. According to Business Insider, the Ripple Founder reportedly owns about 5.19 billion XRP tokens, including shares in XRP’s parent company Ripple.
In January, when the XRP was doing well, with a worth of $2.38, Larsen’s worth was estimated by the same Forbes to have a net value of $37.3 billion. Perhaps, going by January estimates, Ripple’s CEO Brad Garlinghouse would have snuck into the middle of the rankings with his net worth in January also estimated to be $9.5 billion. But, the gradual decline of the XRP has Garlinghouse’s estimate to be well below the needed threshold of $2.1 Billion.
Earlier this year, in February, Forbes published a 2018 Crypto Rich List which saw Larsen as the richest in cryptocurrency, followed by Joseph Lubin, founder of ConsenSys, and co-founder of Ethereum, with fast-growing Binance CEO, Changpeng Zhao, sneaking in behind into third place.