Ripple (XRP), one of the cryptocurrency world’s rising stars, has experienced some massive growth recently. In fact, last week marked a pretty big milestone for the crypto coin. Its price surge last week was so impressive that its founder is now the 5th wealthiest person on Earth. Yes, let that sink in. His name is Chris Larsen, and – according to Forbes – his XRP holdings have made him filthy rich.
2017 was a big year for blockchain and digital assets. What does Ripple see for the space in 2018? Check out our predictions. https://t.co/6ncdCr5uGj
— Ripple (@Ripple) January 5, 2018
But who is Chris Larsen? He certainly doesn’t have household name status like Mark Zuckerberg or Tim Cook. Even so, he certainly has similar bank accounts. Ripple (XRP) hit a new peak price of $3.84 last week, and Mr. Larsen owns a whopping 5.19 million XRP coins. You can do the math there if you’d like.
With Chris Larsen already owning a 17% share of the company behind the cryptocurrency, his net soared to roughly $55 billion as XRP made its leap last week.
Since then, however, things have dipped a bit. His #5 spot no longer exists. This cryptocurrency still has a lot of price growth potential, however. Maybe after the next rally, Chris will regain his spot as fifth richest person on the planet. Perhaps he might even jump to #4.
Who is Chris Larsen, the founder of Ripple (XRP), anyhow?
He joined Ripple during 2012, the same year it was founded initially by Jed McCaleb. Larsen was a well-known entrepreneur and had a presence in Silicon Valley already. His MBA from Stanford certainly didn’t hurt either.
In 2005, he founded a company called Prosper Marketplace. It was technically the very first peer-to-peer lender in the country. He resigned as Chief Executive Officer in 2012. After that, Ripple Labs was founded.
At Ripple, Larsen served as CEO until 2016 – at which point he stepped down to serve as executive chairman.
The Cryptocurrency Sector is Churning Out New Billionaires Pretty Often
Chris Larsen certainly isn’t the first billionaire to be created thanks to a blockchain start up – and he won’t be the last. The founder of Bitcoin, Satoshi Nakamoto, is said to have mined more than 900,000 BTC several years ago. Can you imagine how much capital he earned from that investment?
The Winklevoss twins, who famously sued Mark Zuckerberg, are also “Bitcoin Billionaires.”
It is also rumored that Charlie Lee, who started Litecoin (LTC), has amassed a huge amount of wealth as a result of divesting his LTC holdings. The decision was to settle “conflicts of interest.”
Which cryptocurrency will be the fuel behind the next American billionaire. Maybe it’ll be Verge (XVG).
Do you have any predictions? Discuss below.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.