Forbes magazine released its 2021 list of wealthiest Americans, revealing seven billionaires who have made their fortune through cryptocurrency. Six of the names from those seven crypto billionaires are new to the list, while Chris Larsen made a second appearance after doubling his net worth last year. The seven crypto billionaires are collectively estimated to be worth about $55.1 billion.
FTX’s CEO Sam Bankman-Fried net worth is estimated at $22.5 billion.
The appearance of the seven crypto tycoons in the Forbes list is a first. The seven billionaires are collectively estimated to be worth about $55.1 billion. The wealthiest among these is the Chief Executive Officer of FTX, Sam Bankman-Fried, whose net worth is almost half of this aggregate at $22.5 billion. Sam’s fortune is attributed to the crypto derivatives exchange’s success, which recently moved its headquarters from Hong Kong to the Bahamas. Until last year, only one billionaire within the crypto sphere, Chris Larsen, made it to the list with a $2.7 billion net worth. This wealth is today estimated at $6 billion, securing his spot on this year’s list.
Tyler and Cameron Winkeslov also made the list.
Besides Sam Bankman-Fried, new contenders in the game include Tyler and Cameron Winkeslov, whose wealth is estimated at $4.3 billion each. Fred Ehsram and Brian Armstrong, Coinbase’s founders, also appear on the list with values of $3.5 billion and $11.5 billion, respectively. The last name on the elite list is Jed McCaleb, another of Ripple’s co-founders. His wealth stands at $3 billion. This year has been monumental for cryptocurrency and blockchain use at a global level. Institutional investors across the globe are at the forefront of crypto use adoption.