Ripple’s Chairman Chris Larsen is the first cryptocurrency-related figure to appear at the Forbes 400 Wealthiest Americans. This has been possible because XRP increased in price back at the beginning of the current year. In this way, Mr. Larsen is the first individuals from the cryptocurrency world to appear in the list.
Larsen has an estimated net worth of $2.1 billion dollars and it is in the position number 383. As Business Insider reports, Forbes decided to increase the minimum cutoff to $2.1 billion dollars.
Larsen is one of the 15 newcomers to the prestigious list and the only one with a fortune entirely made by virtual currencies. Others may have investments in the crypto space, but none of them has integrally grown thanks to cryptocurrencies.
Luisa Kroll and Kerry Dolan, part of the editor team of wealth at Forbes commented:
“We’re seeing more billionaires than ever before, thanks in part to the strong stock market and continuing tech boom. For the first time, more than a third of U.S. billionaires were too poor to make this elite list of the nation’s 400 richest.”
The cryptocurrency market continues to grow and creating new millionaires all over the world. Larsen holds 5.19 billion XRP tokens and he has also a 17 per cent share in the company Ripple Labs. That means that he is very close to the entire crypto community and part of one of the most recognized companies in the market.
The volatility in the cryptocurrency world is a very complicated issue to solve. This could clearly have a negative impact for Larsen to maintain its position in the list. At the beginning of the current year, each XRP coin was traded around $3.8 dollars. Now, XRP is being traded around $0.48 dollars.
If XRP reaches new all-time highs, Larsen could become one of the 100 or even 10 richest individuals on earth. Other figures such as Brad Garlinghouse have also seen their wealth increase exponentially during the last years.
In the future, if cryptocurrencies continue to grow and if there might be a bigger number of cryptocurrency enthusiasts in the list. Although it seems difficult, Forbes might create its own cryptocurrency list of wealthy individuals in the coming years.