Ripple’s Co-Founders Lose Their 19%-27% XRP Fortunes

Kavya  |  May 21, 2021

Ripple's Co-founders, Chris Larsen and Jed McCaleb are among the crypto billionaires who have lost significant XRP fortunes of their net worth in the last week as the crypto market has plummeted. 

Several crypto billionaires have lost a total of $15 billion in net worth over the last nine days, as Bitcoin and other big cryptocurrencies have plummeted.

Ripple’s Co-Founders Lost Significant XRP Fortunes

The XRP net worths of Ripple's Co-founders have decreased in value. Chris Larsen, a former Ripple CEO who is a defendant in the SEC's latest complaint against Ripple, has lost 19% of his net worth in nine days, along with Brad Garlinghouse. It fell from $6.9 billion to $5.6 billion.

Jed McCaleb, Ripple's former CTO and Stellar creator, whose daily XRP sales interrupt the XRP Army's sleep, has lost 27% of his net worth: from $6 billion to $4.4 billion in XRP.

Michael Saylor & Tim Draper Incur The Greatest Defeats

The largest net worth loss has been incurred by the most prominent Bitcoin evangelist, Michael Saylor, CEO of MicroStrategy, which has 92,079 Bitcoins on its balance sheet (worth $3,650,545,618 at press time).

On May 18, Saylor revealed that his company had purchased a $10 million Bitcoin dip—another BTC investment made by MicroStrategy this year.

Between May 10 and May 19, Saylor's net worth plummeted by 45 percent, from $3.3 billion in Bitcoin and MicroStrategy stocks to $1.8 billion.

Tim Draper, a global investor and Bitcoin supporter, saw his wealth fall by 39%, from $1.8 billion to $1.1 billion.

Changpeng Zhao Suffers No Harm

Binance CEO, Changpeng Zhao seems to be the only crypto billionaire who seems to have lost nothing (aka CZ). CZ's net worth remained $1.9 billion from May 10 to May 19, according to Forbes.

On that list are the Winklevoss twins, Cameron and Tyler (losing 24% of their net worth), Barry Silbert (losing 14 percent of his net worth), Coinbase CEO Brian Armstrong (losing 15% of his net worth), and a few others.


Related News