Crypto

Ripple’s Chris Larsen likely enters top 10 World’s richest person list

Ripple co-founder Chris Larsen may have entered the top 10 World’s richest person list at position 8 according to reports.

This is directly due to the surge in Ripple price that rose to an all-time high of $3.84. Forbes reports that Larsen personally owns 5.19 billion XRP and if we translate that value to dollar equivalent we get a whopping $55.8 billion making him the eighth-wealthiest person in the world – at least on paper.

Larsen, with his XRP holdings, ranks just ahead of Google co-founder Larry Page and a few billion dollars behind Mexican business magnate Carlos Slim, who formerly held the title of the world’s richest person. Larsen is only one of at least three current or former Ripple executives who have become billionaires due to the cryptocurrency’s recent success.

Jed McCaleb, who co-founded Ripple with Larsen but left the company in 2013 and later founded Stellar, reportedly owns the rights to 5.3 billion XRP — worth more than $20.3 billion. McCaleb also owns one billion XLM, which are worth more than $800 million but have yet to fully vest. According to Bloomberg’s data, this makes McCaleb the fortieth-richest person on paper with a net worth about $1 billion greater than Elon Musk’s.

Current Ripple CEO Brad Garlinghouse, meanwhile, possesses a 6.3 percent stake in Ripple, in addition to an undisclosed number of XRP tokens. This means that, conservatively, he is worth $13.3 billion, which would make him the world’s 99th-wealthiest person and nearly as rich as Bitcoin creator Satoshi Nakamoto, whose estimated 980,000 bitcoins (which most people believe will never be spent) are worth approximately $14.7 billion.