Ripple’s Co-Founder is Now One of the Richest Persons in the World

Cryptocurrency News

As the total value of the digital currency industry tops $600 billion, scores of new millionaires (and even billionaires) have emerged.Two of the newest billionaires who have enjoyed massive windfalls from the success of XRP are Ripple’s current and former CEOs Chris Larsen and Brad Garlinghouse.

Chris Larsen, Co-Founder, Ripple.

Larsen is the co-founder and former CEO of the company. He stepped down from that position in late 2016 and now serves as executive chairman. Larsen’s personal stake is 5.19 billion XRP, giving him a 17% stake in Ripple. According to the exchange rate for XRP as of January 1, 2018, this means his net holdings are worth $37.3 billion, launching him to the 15th spot on the list of richest Americans.

The current Ripple CEO is Brad Garlinghouse, who owns a reported 6.3% stake in the company, as well as additional XRP tokens. His net worth, based on the current rate, would be nearly $10 billion, placing him in the mid-50s on Forbes’ list of wealthiest Americans.

Chris Larsen and Brad Garlinghouse may have seen the greatest benefits from their Ripple holdings, but they are not the only ones who have profited significantly from XRP’s stellar gains. Jed McCaleb, another Ripple co-founder, left the company in 2013 but retains 5.3 billion XRP as of February 2016. Because of an agreement which limits his daily trading volume, he is not able to access all of these holdings; otherwise, he would also be a billionaire.

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Chris N. Fernando is an experienced media professional with over two decades of journalistic experience. He is easily excited by the smallest of technologies around. He is an Android fanboy at heart, who also owns an iPhone, a Windows Phone, and a BlackBerry. Though he uses a MacBook Pro at work, he also uses a Windows PC, an Xbox One and an Xbox 360 for all his gaming requirements. True gadget lover at heart!