Chris Larsen, the co-founder and executive chairman of Ripple, is the first cryptocurrency-related stalwart to get a rank in the Forbes 400 list of wealthiest people on the planet. Earlier in January this year, he was ranked 15th wealthiest American on the 2017 Forbes List with a net worth of around $37 billion. During that time, Ripple was trading at $2.39.
The entry of Larsen in this list has become possible due to the increased Ripple’s price at the starting of the present year. Forbes has considered him as the only person on the list who has accumulated a gargantuan wealth of net worth $2.1 billion solely due to digital currencies. The business magazine has placed him on the 383rd spot.
Apart from the 58-year old Ripple’s billionaire giant, there is no one in the list of 15 newcomers whose fortune exclusively comes from cryptocurrency. He has also been acknowledged as a self-made billionaire by Forbes with a score of 8 on a scale of 1 to 10. He transitioned from his position chief executive officer in November 2016 while passing on his role to Brad Garlinghouse to execute chairman of Ripple’s board of directors.
Forbes’ list titled “The Definitive Ranking Of The Wealthiest Americans” also mentions the name of other 15 newcomers who climbed into the ranks such as CEO of Dropbox (online file-sharing firm), Drew Houston, and Lynsi Snyder, owner and heiress of the In-N-Out Burger company. The 36-year old Snyder is the youngest woman on the Forbes 400 list.
According to Toshi Times, Larsen presently owns an average 5.2 million XRP tokens alongside a stake of 17 percent in Ripple Labs. However, due to volatility in the cryptocurrency market, it may be difficult for him to maintain his position in the list. From XRP’s highest price $2.69 in January this year, now it is being traded around $0.48. However, if the price of XRP attains new heights or crosses its records, Larsen might become one of the 100 or even 10 wealthiest persons on the planet.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]