Source: blockchain.news
The downturn in the broader digital currency ecosystem has affected some notable billionaires in the US, knocking four names off the list of the richest Americans, according to Forbes data.
The media team said that of the 7 names that made the top 400 richest list last year with a cumulative net worth of $55.1 billion, only 4 remain, and they all have just $27.3 billion.
As both digital currency prices and company valuations plummeted over a very wide range, the net worth of all profiled billionaires has dropped, even though they all remain among the richest in America.
The Crypto Billionaires Who Made The List
Sam Bankman-Fried (SBF) is the richest crypto billionaire in the United States and is currently ranked 41st. SBF now boasts a cumulative net worth of $17.2 billion, down from $22.5 billion million in this period last year. Sam is the CEO of the FTX Derivatives Exchange and a number of other successful subsidiaries of the trading platform.
The next highest-ranked billionaire is Sam’s co-founder Gary Wang, whose net worth and ranking are pegged at $4.6 billion and $227, respectively. Wang owned approximately 16% of FTX and FTX US.
Ripple co-founder Chris Larsen is the 380th richest American with a total valuation of $2.8 billion (up from $6 billion). Chris’s valuation has been affected by the price of the XRP coin and the prolonged lawsuit with the US Securities and Exchange Commission (SEC) over the status of XRP as a security.
Brain Armstrong, the CEO of Nasdaq-listed trading platform Coinbase Global Inc, ranks 388th on $2.7 billion (up from $11.5 billion). With Coinbase shares falling noticeably, Brian comes across as the billionaire who has taken the biggest hit over the past year.
Crypto billionaires who fell by the wayside
According to the Forbes report, the Winklevoss twin is not on a list this year despite his net worth of $2.2 billion. Until last year, the Gemini twin was worth $4.3 billion. Jed McCaleb ($2.5 billion worth) and Fred Erhsam ($1.1 billion worth) also didn’t make the elite list this year.
Image source: Shutterstock
Read More at blockchain.news