The Forbes list of cryptocurrency billionaires has been updated, and the number of people who have made huge fortunes in digital assets has increased significantly.
There are now 19 billionaires on the crypto elite list, up seven from last year and expanding the list by 58%. The publication published its latest richest cryptocurrency on April 5, but the king of the crop remains unchanged.
Binance CEO and Founder Changpeng “CZ” Zhao is still the richest person in the industry and now ranks as the 19th richest person in the world due to his relatively recently accumulated wealth. The publication downgraded CZ’s net worth from an estimated $96 billion last year to its current estimate of $65 billion. However, this still makes him the richest person in the industry.
FTX founder and CEO Sam Bankman-Fried came in second behind “CZ” with a whopping $24 billion fortune. He has been nicknamed the “cryptocurrency Robin Hood” as he has repeatedly stated that he wants to give away most of this fortune. But with another $24 billion on hand, he obviously hasn’t had time to do it yet.
Coinbase CEO and founder Brian Armstrong is in third place with $6.6 billion. Ripple’s Chris Larsen and Gemini’s Winklevoss twins remain on the list with roughly $4 billion to their names.
Newcomers to the list of cryptocurrency billionaires include FTX co-founder and CTO Gary Wang, with a net worth of $5.6 billion from his 16 percent stake in the company. and Nikhil Viswanathan and Joseph Lau, co-founders of blockchain and Web3 Alchemy. The pair are reported to have a net worth of $2.4 billion each, making them eleventh.
OpenSea NFT trading platform co-founders Devin Finzer and Alex Atalla are also new to the crypto rich list this year with an estimated net worth of $2.2 billion each.
There are a few other big names on the list, including Song Chi-hyun, the founder of the South Korean exchange Upbit, who is reportedly worth $3.7 billion. Kim Hyun-nyeon, executive vice president of South Korean company Dunamu, owns roughly 13% of Upbit, giving him a net worth of $1.9 billion.
On the subject: Forbes 2021 Billionaires list has 3 times more cryptocurrencies than last year
Michael Saylor of MicroStrategy remains a cryptocurrency billionaire with an estimated net worth of $1.6 billion. The company’s stock has quadrupled in the past two years after a massive bet on bitcoin that paid off.
Initially, Forbes published the first elite list of cryptocurrencies back in 2018 when only a few executives received it. At the time, the bar was much lower, with a net worth of $350 million on the list.