The value of the cryptocurrency ecosystem skyrocketed in 2017, with various cryptocurrencies surpassing 1,000% gains. Ripple’s XRP token, for example, was worth about $0,006 in the beginning of 2017 and is currently trading at $3.76. The 60,000% rise helped Ripple become the second-biggest cryptocurrency by market cap, and is now valued at over $140 billion.
Behind the XRP token is San Francisco-based company Ripple, which uses blockchain technology in financial transactions. According to Forbes, its co-founder and former CEO Chris Larsen, owns 5.19 billion XRP tokens, currently worth over $16.9 billion. He reportedly also owns 17% of the company, bringing his total net worth to $44.16 billion at current rates.
This makes Larsen the 18th richest person in the world, behind Indian business magnate Mush Ambani, according to Bloomberg’s Billionaire Index. Back in November 2016, the 57-year-old stepped down as CEO of Ripple, turning the reigns over to Brad Garlinghouse, the company’s current CEO.
Citing a source at the company, Forbes claims Garlinghouse owns 6.3% of Ripple, and additional XRP tokens. Per its report, his net worth was of “at least” $9.5 billion at the time, meaning he would be number 153 on the list, above Fidelity’s Abigail Johnson, a big cryptocurrency fan herself. Since Forbes’ report, XRP’s price surged 38%.