The year 2024 will go down in history as the year of the advent of new crypto billionaires. Indeed, the surge in prices of digital assets has boosted the fortunes of several pioneering entrepreneurs in the sector. Taking advantage of this upward momentum, the number of crypto billionaires increased from 9 to 17 in the space of 12 months.
Changpeng Zhao, the undisputed former CEO
Although prosecuted for money laundering, Changpeng Zhao is at the head of this very exclusive club of the ultra-rich crypto. As a result, his net worth is now around $33 billion, more than triple the previous year. Despite the legal troubles, the former big boss of Binance maintains a considerable lead over his pursuers.
Other well-known entrepreneurs are thriving
However, Zhao is not the only one to have benefited from the crypto market's strong winds. In addition, the bosses of flagship companies like MicroStrategy and Coinbase have also reaped substantial gains. On the one hand, the fortune of Michael Saylor, the charismatic CEO of MicroStrategy, now peaks at $4.4 billion. On the other hand, that of Brian Armstrong, boss of the Coinbase platform, jumped to 11.2 billion.
However, the new billionaires should not overshadow the pioneers of the sector. Furthermore, the Winklevoss twins, famous investors in Bitcoin, maintain a prominent place in the ranking. In addition, Jed McCaleb, co-founder of Ripple, continues to benefit from the rise in XRP to expand his portfolio.
Finally, Mike Novogratz remains one of the most prominent crypto entrepreneurs. His billionaire status remains unchanged, his fortune reaching almost $4 billion.
The new entrants of crypto capitalism
Beyond established figures, 2024 also marks the advent of new billionaires crypto. For example, Giancarlo Devasini, Jean-Louis van der Velde, Paolo Ardoino and Stuart Hoegner constitute the lynchpins of Tether, the controversial stablecoin issuer. Their stakes in this successful company have enabled their sensational entry into the elite of the digital ultra-rich.
Likewise, informed investors sit among the members of this very private club. In particular, Tim Draper, a former crypto investor converted to venture capital, today sees his perseverance rewarded. His fortune is now around $2 billion.
Although criticized for its speculative excesses, the crypto economy has managed to create real dynasties of billionaires in just a few years. This demonstrates its vitality and its potential for disruption. Unquestionably, the road to the democratization of digital assets still remains long. However, the advent of this new class of billionaires only reinforces the ambitions of the industry.
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