The Crypto Billionaires Club Grew by 50% in One Year!

The year 2024 will remain etched in history as the dawn of new crypto billionaires. Indeed, the surge in digital asset prices has boosted the fortunes of several pioneering entrepreneurs in the sector. Capitalizing on this bullish momentum, the number of crypto billionaires has jumped from 9 to 17 in the span of 12 months.

Changpeng Zhao, the Unquestioned Former CEO

Although pursued for money laundering, Changpeng Zhao tops the list of this very exclusive club of crypto ultra-rich. As a result, his net worth now approaches $33 billion, more than triple from the previous year. Despite his legal troubles, the former Binance chief maintains a considerable lead over his rivals.

Other Well-Known Entrepreneurs Flourish

However, Zhao is not the only one to have benefited from the tailwinds of the crypto market. Additionally, the heads of flagship companies like MicroStrategy and Coinbase have also amassed significant gains. On one hand, the fortune of Michael Saylor, the charismatic CEO of MicroStrategy, now peaks at $4.4 billion. On the other hand, Brian Armstrong, head of the Coinbase platform, has seen his wealth leap to $11.2 billion.

Nonetheless, the new billionaires should not overshadow the pioneers of the industry. Moreover, the Winklevoss twins, famous Bitcoin investors, keep a prestigious spot within the rankings. Furthermore, Jed McCaleb, co-founder of Ripple, continues to benefit from the rise of XRP to expand his portfolio.

Lastly, Mike Novogratz remains one of the most high-profile crypto entrepreneurs. His status as a billionaire remains unchanged, with a fortune closing in on $4 billion.

Newcomers to Crypto Capitalism

Beyond established figures, 2024 also marks the rise of new crypto billionaires. For example, Giancarlo Devasini, Jean-Louis van der Velde, Paolo Ardoino, and Stuart Hoegner are the linchpins of Tether, the controversial issuer of stablecoins. Their stakes in this successful company have allowed them to make a sensational entry into the elite of digital ultra-rich.

Likewise, savvy investors also sit among the members of this very private club. In particular, Tim Draper, a former crypto investor turned venture capitalist, now sees his perseverance paying off. His fortune now hovers around $2 billion.

Although criticized for its speculative excesses, the crypto economy has managed to create real dynasties of billionaires in just a few years. This testifies to its vitality and its potential for disruption. Undoubtedly, the path to the democratization of digital assets is still long. However, the rise of this new class of billionaires only reinforces the ambitions of the industry.