SILICON VILLAGE

Thursday, May 10, 2018

Forbes Releases First Crypto Rich People List; Chris Larsen at the Top

Forbes has released its first ever list of richest people in cryptocurrency, which is topped by Ripple co-founder Chris Larsen, with an estimated crypto net worth of $7.5-8 billion.

There is a huge spike in the value of the unregulated cryptocurrencies, which are ‘mined’ using secret algorithms based on the blockchain technologies. According to Forbes, the average 2017 price change of Bitcoin, Ethereum and XRP, three of the most common cryptocurrencies, is a whopping 14,409%.

As per the publication, there are now nearly 1,500 cryptoassets in existence, valued at an aggregate $550 billion, up 31 times since the beginning of 2017. “Fortunes of this magnitude should never be allowed to lurk in the shadows,” Forbes Editor Randall Lane said.

The list also features Joseph Lubin with crypto net worth ($1-5 billion), Changpeng Zhao ($1.1-2 billion), Cameron & Tyler Winklevoss ($900 million-1.1 billion) and Matthew Mellon ($900 million-1.1 billion).

Others in the list include Brian Armstrong, Matthew Roszak, Anthony Di Iorio, Brock Pierce, Michael Novogratz, Brendan Blumer, Dan Larimer, Valery Vavilov, Charles Hoskinson, Brad Garlinghouse, Barry Silbert, Vitalik Buterin, Tim Draper and Song Chi-Hyung. The publication noted that given the “opaqueness” and crypto’s hyper-volatility, Forbes presented the net-worth estimates in ranges.

It further said: “It’s a near certainty that we have missed some people and that some of our estimates are wide of the mark”.

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