Ripple’s 37,000% rise has made its co-founder one of the world’s richest people

XRP, another cryptocurrency like Bitcoin for international money transfer by fintech company Ripple has been skyrocketing this winter to no. 2 cryptocurrencies by market capital.

Ripple’s co-founder is one of the world’s wealthiest people after XRP’s 37,000% rise

It raised to $2.47 from the mid-December value of $0.25 and made the co-founder a former CEO of the company one of the wealthiest person.

Chris Larsen who founded Ripple Labs – known as Ripple in 2012 now owns 5.19 billion of its XRP cryptocurrency, reported by Forbes. According to an exchange rate of yesterday his holding value of $12.82 billion.

Forbes also says that Larsen owns a 17% stake in the company, citing sources inside the firm, bringing his total net worth to $37.3 billion. That would make him the 21st richest person in the world, according to Bloomberg’s Billionaire Index — just behind Indian business magnate Mukesh Ambani.

The 57-year-old stepped down as CEO of Ripple in November 2016, turning over the reigns to current CEO Brad Garlinghouse, who owns a 6.3% stake in the company, Forbes reports. Larsen currently serves as chairman.

XRP was best performing cryptocurrencies of 2017 rising 37,900% from $0.0065 per token in January 2017 to $2.47 by the end of the year. The cryptocurrency has a market capitalization of $94 billion according to CoinMarketCap.com just behind the bitcoin and above all other cryptocurrencies.

- Advertisement -
b4c58c5edf797ff99fcca559f7ac9651?s=96&r=g - Ripple's 37,000% rise has made its co-founder one of the world's richest people
Muhammad Irfan Raza
Irfan Raza is Editor at TechWafer covering Everything about Apple including Mac, iPhones, iMac, iMac Pro, MacBook, and How-tos.

Recent Articles

Facebook Business Suite Brings Pages, Instagram, & Messenger Tools in One Place

Facebook Business Suite is a new way to manage Facebook, Instagram, Messenger Tools all in on place. Currently, Business Suite has the following: Posting ...

How to Solve: Friend Can’t Connect to Minecraft Server

Minecraft has made a revolution in the video game industry, and it is a sandbox video baed game that is admired among gamers, entirely...

How to Find If Your GPU is Dying | 5 Signs Explained

Whether it is one of the exciting games, arduous visual content, or broad-spectrum movies, a Graphics card is an essential part of your personal...

TECNO Spark 6 with Heroic theme is expected to launch on a TV channel

The leading smartphone brand TECNO Mobile is all set to unveil its premium phone Spark 6 in a grand virtual launch event....

OPPO Reno4 Series Available Now in Pakistan

The recently launched OPPO Reno4 series is now available in the market and can easily be booked online on OPPO’s official website.  OPPO Reno4...

Trending

93,179FansLike
2,569FollowersFollow
507FollowersFollow
4,915FollowersFollow
650SubscribersSubscribe

Leave A Reply

Please enter your comment!
Please enter your name here