Ripple Cryptocurrency made its co-founder richest people in the world
Ripple Cryptocurrency made its co-founder richest people in the world explained by professional Forex trading experts the “ForexSQ” FX trading team.
Ripple Cryptocurrency made its co-founder richest people in the world
Chris Larsen, the co-founder and former CEO of Ripple owns 5.19 billion XRP, Forbes reported Tuesday.
That stash, plus a 17% stake in the company, means he could be worth $37.3 billion.
XRP, a cryptocurrency for international money transfers by the fintech company Ripple, has been on a tear this winter, skyrocketing to the No. 2 cryptocurrency by market cap.
That astronomical rise to $2.47 a coin — up from $0.25 in mid-December — has made the co-founder and former CEO of the company one of the world’s richest people.
Chris Larsen, who founded Ripple Labs — now known as just Ripple — in 2012, owns 5.19 billion of its XRP cryptocurrency, Forbes reports. At Tuesday’s exchange rate, that gives his holdings a value of $12.82 billion.
Forbes also reports that Larsen owns a 17% stake in the company, citing sources inside the firm, bringing his total net worth to $37.3 billion. That would make him the 21st richest person in the world, according to Bloomberg’s Billionaire Index — just behind Indian business magnate Mukesh Ambani.
The 57-year-old stepped down as CEO of Ripple in November 2016, turning over the reigns to current CEO Brad Garlinghouse, who owns a 6.3% stake in the company, Forbes reports. Larsen currently serves as chairman.
XRP was easily the best performing cryptocurrency of 2017, rising 37,900% from $0.0065 per token in January 2017, to $2.47 by the end of the year. The cryptocurrency now has a market cap of $94 billion, according to CoinMarketCap.com, placing it behind only bitcoin in total value.
Ripple Cryptocurrency made its co-founder richest people in the world Conclusion
For more information about currency trading brokers visit TopForexBrokers.com Forex brokers comparison website, Tip ForexSQ.com foreign exchange trading experts please by share this article about Ripple Cryptocurrency made its co-founder richest people in the world.