As the cryptocurrency market continues its bull run, nine new representatives of the crypto industry have joined the Forbes 35th Annual World’s Billionaires List, the media company revealed yesterday.
Sam Bankman-Fried and Michael Saylor are among the newcomers to the Billionaires List, while Binance CEO Changpeng “CZ” Zhao rejoins the list after having dropped off it during the bear market.
— Forbes (@Forbes) April 6, 2021
Per the list, Bankman-Fried, CEO of crypto derivatives exchange FTX, is the richest of the crypto billionaires, with a fortune of $8.7 billion. Coinbase CEO Brian Armstrong, who's seen his fortune rise from $1 billion last year to $6.5 billion today, takes the second-place slot. He may not have to settle for silver for long, though; Armstrong's 2.8 million Class A shares of Coinbase could see his net worth rise substantially as a result of the crypto exchange's impending direct listing.
However, other outlets dispute Forbes‘ ranking. In March, China’s Hurun Research Institute similarly ranked Armstrong and Fried as the first and second-richest in the crypto industry, respectively, but pegged Armstrong’s net worth at $11.5 billion, and Fried at $10 billion.
Ripple co-founder Chris Larsen, who is currently embroiled in a $1.3 billion legal battle with the US Securities and Exchange Commission alongside the firm’s CEO Brad Garlinghouse, is ranked third on Forbes’ list, with a net worth of $3.4 billion. Jed McCaleb, also a co-founder of Ripple, entered the list for the first time this year with a fortune of $2 billion.
Other newcomers include famous twin investors Cameron and Tyler Winklevoss. After investing the money they received from the Facebook lawsuit in Bitcoin in 2021, their net worth surged to $3 billion each this year, placing them in joint 6th place among the crypto billionaires.
The list of crypto billionaires is rounded out by MicroStrategy CEO Michael Saylor ($2.3 billion), early Bitcoin investor Matthew Roszak ($1.5 billion), venture capitalist Tim Draper ($1.5 billion), Coinbase co-founder Fred Ehrsam ($1.9 billion), Binance CEO Changpeng Zhao ($1.9 billion, the only “returnee” on the list), and Digital Currency Group CEO Barry Silbert ($1.6 billion).