Tether Shareholders Emerge as Major Players in Forbes' 2024 Crypto Billionaire Ranking

Forbes' latest ranking, "The Richest Crypto and Bitcoin Billionaires in the World 2024," welcomes debutants: Tether shareholders Paolo Ardoino, Giancarlo Devasini, Jean-Louis van der Velde, and Stuart Hoegner. This year's ranking features 17 crypto billionaires, up from nine last year, thanks to the crypto winter's end, Bitcoin spot ETF approvals, and record-breaking BTC prices above $73,000.

Tether Shareholders Emerge as Major Players in Forbes' 2024 Crypto Billionaire Ranking

In a significant development within the rapidly evolving cryptocurrency landscape, four key shareholders of Tether have made their debut on Forbes' prestigious "The Richest Crypto And Bitcoin Billionaires In The World 2024" ranking. This historic entry marks a testament to the growing influence and prominence of Tether in the global digital asset market.

The Tether Titans: A Collective Fortune

Spearheading the Tether contingent is Giancarlo Devasini, the company's Chief Financial Officer (CFO), who занимает третье место in the ranking with a net worth of a staggering $9.2 billion. Devasini's staggering 47% stake in Tether makes him the largest individual shareholder in the company.

Joining Devasini in the ranks of the cryptocurrency elite is Paolo Ardoino, Tether's current Chief Executive Officer (CEO). With a net worth of $3.9 billion and an estimated 20% stake in Tether, Ardoino secures the fifth position on the list.

Completing the Tether triumvirate is Jean-Louis van der Velde, the former CEO of Tether who now serves as Head of Strategic Relationships. Van der Velde's 20% stake in the company has propelled him to sixth place in the ranking, with a net worth of $3.9 billion.

Rounding out the Tether quartet is Stuart Hoegner, the company's General Counsel since 2014. Hoegner, with an estimated 13% stake in Tether, occupies the 14th position on the list, boasting a net worth of $2.5 billion.

Crypto Billionaires Surge Amid Market Revival

The inclusion of Tether's shareholders in this year's Forbes ranking is a reflection of the remarkable resurgence experienced by the cryptocurrency market in the early months of 2024. This revival, characterized by the end of the crypto winter, the approval of Bitcoin spot ETFs in the United States, and a surge in the price of Bitcoin (BTC) to a new all-time high of over $73,000, has significantly bolstered the fortunes of cryptocurrency entrepreneurs and investors.

A collective value of $93 billion

According to Forbes, the total collective value of these 17 crypto billionaires, including investors and entrepreneurs, stands at an impressive $93 billion. This surge in wealth highlights the growing acceptance and adoption of cryptocurrencies as a legitimate asset class.

Binance's CZ Remains Crypto King

Despite regulatory setbacks and a recent admission of guilt, Changpeng "CZ" Zhao, the former CEO of Binance, maintains his position as the wealthiest cryptocurrency billionaire in the world. With a net worth of $33 billion, CZ reportedly holds a substantial 90% stake in Binance, the world's largest cryptocurrency exchange. CZ's dominance in the industry has earned him a place among the top 50 richest people in the world.

Coinbase Co-Founder Climbs the Ranks

Brian Armstrong, the co-founder and CEO of Coinbase, has emerged as a major force in the crypto world. With a net worth of $11.2 billion, Armstrong is the largest shareholder of Coinbase, holding an 18% stake. The recent bull run in the crypto market has significantly boosted COIN shares, contributing to Armstrong's rise in the ranking.

Other Notable Crypto Billionaires

Beyond the Tether quartet and the Binance and Coinbase executives, the Forbes ranking features a diverse group of influential crypto figures. Michael Saylor, the founder and CEO of MicroStrategy, holds the distinction of being the largest corporate holder of Bitcoin (BTC). Saylor's aggressive investment strategy has positioned him in fourth place in the ranking, with a net worth of $4.4 billion.

Chris Larsen, the co-founder of Ripple and current Executive Chairman, occupies seventh place on the list with a net worth of $3.2 billion. Larsen's 18% ownership stake in Ripple underscores his significant influence in the cryptocurrency space.

The Winklevoss twins, Tyler and Cameron, also make an appearance in the ranking, securing 11th place with a combined net worth of $2.7 billion. The twins, known for their early investment in Bitcoin, control a significant 75% stake in the Gemini cryptocurrency exchange.

Other notable names on the list include Mike Novogratz of Galaxy Digital and venture capitalist Tim Draper, further demonstrating the breadth and diversity of the crypto billionaire landscape.

Conclusion

The inclusion of Tether's shareholders in Forbes' 2024 ranking of the world's wealthiest crypto and bitcoin billionaires is a testament to the growing significance of Tether in the global cryptocurrency market. The presence of these individuals alongside other industry giants highlights the maturing nature of the crypto ecosystem and its increasing acceptance as a mainstream investment vehicle. As the crypto market continues to evolve, it is likely that Tether and its key stakeholders will play an increasingly prominent role in shaping its future trajectory.