For the first-time, Forbes, popular for its “list of billionaires”, has published a list of people who have made millions by investing in crypto currencies. According to Forbes editor Randall Lane, the list was published to make people understand that crypto currency is also a legitimate asset class and is not always associated with drug dealers and black money.
Compiling Crypto Rich List: It is not a difficult task to compile the list of billionaire investors in the equity and other traditional financial markets. The task becomes complex when it comes to the wealth calculation of a crypto currency investor. The Forbes “Richest People in Cryptocurrency” list is divided into five categories: “Idealists, Builders, Opportunists, Infrastructure players, and Established investors.” To be named in the list, a crypto currency player should have accrued a wealth of over $350 million.
Considering the volatility of crypto currencies, Forbes has listed the net worths in ranges. The calculation was based “estimated holdings of cryptocurrencies (a few provided proof), post-tax profits from trading crypto-assets and stakes in crypto-related businesses.”
Notably, the average age of people in the crypto currency rich list is 42, compared with 67 in case of the Forbes 400 list of the wealthiest Americans.
The 19-member list: Currently, Forbes crypto currency rich list contains 19 individuals. The web page lists their image on a coin, which provides a brief summary of their activities and estimated wealth. More details of the multi millionaires can also be studied using the “full profile” link.
The crypto currency investors and tech players who have made it to the list are:
1. Chris Larsen – co-founder Ripple, age 57, networth $7.5 billion to $8 billion.
2. Joseph Lubin – co-founder Ethereum, founder Consensys, age 53, net worth $1 billion to $5
3. Changpeng Zhao – CEO Binance, age 41, net worth $1.1 billion to $2 billion.
4. Cameron & Tyler Winklevoss – co-founders Winklevoss Capital, ages 36, net worth $900
million to $1.10 billion.
5. Matthew Mellon – individual investor, age 54, network $900 million to $1 billion.
6. Brian Armstrong –CEO Coinbase, $900 million to $1 billion.
7. Matthew Roszak – co-founder Bloq, founder Tally Capital, age 45, net worth $900 million to
8. Anthony Di Iorio – co-founder Ethereum, founder Jaxx & Decentral, age 43, net worth $750
million to $1 billion.
9. Brock Pierce – chairman Bitcoin Foundation, advisor Block.one, age 37, net worth $700
million to $1 billion.
10. Michael Novogratz – CEO Galaxy Digital, age 53, net worth $700 million to $1 billion.
11. Brendan Blumer – CEO Block.one, age 31, net worth $600 million to $700 million.
12. Dan Larimer – chief technology officer Block.one, age 35, networth $600 million to $700
13. Valery Vavilov – CEO Bitfury, age 38, net worth $500 million to $700 million.
14. Charles Hoskinson – co-founder Ethereum, IOHK, age 30, net worth $500 million to $600
15. Brad Garlinghouse – CEO Ripple, age 47, net worth $400 million to $500 million.
16. Barry Silbert – CEO Digital Currency Group, age 41, net worth $400 million to $500
17. Vitalik Buterin – creator of Ethereum, age 24, net worth $400 million to $500 million.
18. Tim Draper – founder Draper Associates, age 59, net worth $350 million to $500 million.
19. Song Chi-Hyung – CEO Dunamo, founder Upbit, age 38, networth $350 million to $500
Not all were happy with the release of the crypto currency rich list. Joe Lubin, founder of Consensys, expressed his concerns about releasing the data. Lubin said that he and his peers prefer not to have public attention. Lubin also questioned how Forbes was able to arrive at those numbers. Lubin, however, acknowledged the importance of the list.
Similar Lists: Recently, the newsletter CryptoWeekly released a list of the top 100 most influential people in the crypto community, based on research and technological contributions made by individuals in the crypto domain. Litecoin founder Charlie Lee, crypto pioneer Nick Szabo, and crypto currency investor Roger Ver were included in the CryptoWeekly’s list of influential people in the crypto world.
While showcasing the list, Forbes also acknowledges that some of the people who deserve to be on the list could have been missed out.