Ripple Execs now billionaires thanks to the success of XRP

Since the total value of the digital currency industry exceeds $ 600 billion, tens of new millionaires (and even billionaires) have emerged. Two of the most recent billionaires who have enjoyed huge jumps since the success of XRP are current and former CEO of Ripple, Chris Larsen and Brad Garlinghouse.

Larsen is the co-founder and former CEO of the company. He resigned from that position at the end of 2016 and is now executive president, according to Forbes. Larsen’s personal interest is 5.19 billion XRP, which gives him a 17% stake in Ripple. According to the exchange rate for XRP from January 1, 2018, this means that its net holdings are worth $ 37.3 billion, lending it to the 15th place on the list of the richest Americans.

The current CEO of Ripple is Brad Garlinghouse, owner of a 6.3% stake in the company, plus additional XRP tokens. Its net assets, based on the current rate, would be about $ 10 billion, placing it in the mid-1950s on Forbes’s richest American list.

Chris Larsen and Brad Garlinghouse may have seen the greatest benefits from their Ripple properties, but they are not the only ones who have profited significantly from XRP’s stellar earnings.

Jed McCaleb, another co-founder of Ripple, left the company in 2013 but retains 5.3 billion XRP in February 2016. Due to an agreement that limits his daily trading volume, he is unable to access all these participations; otherwise, he would also be a billionaire.

Ripple has increased 30,000% year-on-year
Ripple is based in San Francisco and uses blockchain technology to facilitate international financial transactions. Ripple has gained around 30,000% from the beginning of 2017 to the beginning of 2018. In the process, it passed the ethereal token of Ethereum as the second digital currency by market capitalization.

 

The first investors in all types of digital currencies are observing their net worth as bitcoins, ether and Ripple, among other digital currencies, all post huge gains and set new price records. (See also: The Winklevoss twins are the first billionaires of Bitcoin.)

While many of the newly created digital currency millionaires owe their fortune to bitcoin investments, the largest digital currency in the world by market capitalization is not the only one that has made some individuals very wealthy. Specifically, the significant gains that Ripple (XRP) has recorded in recent months may have significantly improved the wealth of some developers and stakeholders. (See more: Ripple is becoming a stable and reliable cryptocurrency).

Investing in cryptocurrencies and other initial coin offerings (“ICOs”) is highly risky and speculative, and this article is not a recommendation of Investopedia or the writer to invest in cryptocurrencies or other ICOs. Since the situation of each individual is unique, a qualified professional should always be consulted before making any financial decision. Investopedia does not make any representations or warranties regarding the accuracy or timeliness of the information contained in this document. On the date this article was written, the author possesses cryptocurrency.

 

Source Investopedia



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