Ripple’s Chris Larsen First Crypto Personality on Forbes 400 Rich List

Chris Larsen, co-founder of Ripple, is the first person from the cryptocurrency space to be on the Forbes 400 list. He is at the very bottom of the list, ranked #383 in a tie with 18 other billionaires.

The Forbes 400 is a list of the 400 richest people in America, a list so exclusive that a third of billionaires in the United States were not wealthy enough to make the list. The Ripple token, XRP, is the third-ranked cryptocurrency by market capitalization at this time with a market cap of USD 20 billion.

Larsen owns XRP 5.19 billion, and his place on the list has been fluctuating wildly due to changes in XRP’s price. As of this writing on 8 October 2018, five days since the Forbes 400 was compiled, XRP has gone up to USD 0.50, which would mean Larsen has USD 2.6 billion and is actually ranked #316. Earlier in 2018, when XRP hit its all-time record of USD 3.75, Larsen had USD 19.46 billion, which would have put him at #25 on the Forbes 400, practically tied with SpaceX and Tesla Founder Elon Musk.

That being said, Larsen couldn’t cash out all of his XRP at once even if he wanted to, which makes his position on the list somewhat controversial. As seen with Ripple’s other co-founder Jed McCaleb, co-founders have restrictions in selling off their holdings since sudden and large liquidations would damage the Ripple ecosystem.

Notably absent from the list is Satoshi Nakamoto, since his identity is unknown, and there is no way to know if he is even in the United States. Some estimates say Satoshi mined BTC 1 million, which are still clearly sitting in wallets believed to be his, which would give him a net worth of USD 6.7 billion as of 8 October, which would put him at #78 on the Forbes 400. During the rally to USD 20,000, Satoshi’s Bitcoin was worth as much as USD 20 billion briefly, which would put him at #23, richer than Elon Musk.

At the very top of the Forbes 400 is Jeff Bezos, the founder of Amazon, who has an all-time record USD 160 billion. This is more than the entire Bitcoin market cap, which is USD 115 billion. Jeff Bezos broke Bill Gates’ 24-year streak at the top of the Forbes 400.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Ripple’s Chris Larsen First Crypto Personality on Forbes 400 Rich List appeared first on BitcoinNews.com.

Leave a Reply

Your email address will not be published. Required fields are marked *

+ 61 = 64