Jed McCaleb and Ripple’s Chris Larsen Emerge on 2021 Forbes 400
Forbes has written that this year, six new crypto billionaires have joined its 400 list of the wealthiest entrepreneurs. Among them is former Ripple chief technology officer, who helped found the company – Jed McCaleb. Another Ripple co-founder and its former CEO, Chris Larsen, has joined the list for the second consecutive year, doubling his fortune.
Ripple co-founders appear on Forbes 400 richest list
As per the article, last year, Larsen already appeared on the list of the 400 entrepreneurs with the highest net worth with his $2.7 billion fortune. This year, his estimated net worth totals $6 billion. All of it or the most part of it has been obviously made in Ripple.
Jed McCaleb, who left the company after a falling out with Larsen and other top Ripple team members in 2013, received 9 billion XRP tokens and set off to found a rivalling company Stellar with a native XLM token.
His net worth in 2021 totals $3 billion.
Among the other crypto billionaires on this year’s Forbes list are the Winklevoss twins ($4.3 billion each) , Coinbase CEO Brian Armstrong ($11.5 billion), Sam Bankman-Fried (founder of FTX exchange, he is worth $22.5 billion), and Fred Ehrsam ($3.5 billion), who co-founded Coinbase together with Armstrong.
Larsen gets on the list for several consecutive years
As reported by U.Today previously, back in 2018, Brad Garlinghouse, the Ripple CEO, with a net worth of $9.5 bln at that moment, was not included in the list. But Larsen was on the Forbes 400 in 2018, 2019 and 2020.
In 2019, he was the only crypto billionaire on it. At the moment Christopher Larsen along with Brad Garlinghouse are a defendant in the legal case brought against them and Ripple Labs in December 2020.
The US regulator accuses the company and the two of its highest-ranking executives of selling unregistered securities (XRP tokens) to investors and profiting from it.
Larsen and Garlinghouse, the SEC claims, have pocketed $159 million and $450 million, respectively, from their XRP sales.
Recently, Ripple stated that they do not plan to settle with the US Securities and Exchange commission. However, the chief Garlinghouse believes that this is possible but on one condition – the agency will provide “absolute certainty” about XRP.Source