- In the last eight months, crypto billionaires have seen their wealth amassed so quickly vanish as quickly as they were made
- In fact, between January Ist 2022 to Wednesday, July 13, the seven crypto billionaires have watched over $100 billion whipped out of their wealth
- While they are optimistic about rebounding stronger, the market looks to be worsening, suggesting that further losses are on the way
These are not the best time for cryptocurrency investors, more so for those who have amassed a huge fortune from it.
In a few years little, known tech enthusiasts became some of the most powerful men in the world after raking billions of dollars selling their digital assets.
In Forbes's 2022 richest billionaires list, 19 of the names listed all made their money from cryptocurrency.
Top of the list is Changpeng Zhao, Sam Bankman-Fried, and Brian Armstrong– all are at the helm of cryptocurrency exchanges.
PAY ATTENTION: Join Legit.ng Telegram channel! Never miss important updates!
According to the Bloomberg report, seven crypto billionaires were worth as much as US$145 billion on Nov. 9, when Bitcoin reached a record high of almost $69,000.
Fast forward six months later, the seven billionaires' fortunes tied to crypto have since lost a combined $114 billion.
For instance, Changpeng Zhao Crypto’s richest person, Binance founder and CEO “CZ” as of 31 March 2022, was worth $64.5 billion and was sitting comfortably as the 19th richest man in the world.
Forbes top 10 richest crypto and blockchain billionaires in the world 2022
While most of them have seen their fortune drop massively, here are Forbes 10 richest crypto billionaires
|Name||Source of Wealth||Worth according to forbes|
|Changpeng Zhao||Binance||$65 billion|
|Sam Bankman-Fried||FTX||$24 billion|
|Brian Armstrong||Coinbase||$6.6 billion|
|Chris Larsen||Ripple||$4.3 billion|
|Cameron Winklevoss and Tyler Winklevoss||Bitcoin||$4 billion each|
|Song Chi-hyung||Upbit||$3.7 billion|
|Barry Silbert||Digital Currency Group||$3.2 billion|
|Jed McCaleb||Ripple, Stellar||$2.5 billion|
|Nikil Viswanathan and Joseph Lau||Alchemy||$2.4 billion each|
|Devin Finzer and Alex Atallah||OpenSea||$2.2 billion|
Dangote jumps 35 places on rich list as world’s richest woman tops Zuckerberg
In another report, Africa's richest man Aliko Dangote in the last six months, have jumped 35 places on the billionaire rich list.
Compared to most billionaires since the start of the war in Ukraine has added to his wealth.
Zuckerberg, who has seen his wealth plummet in recent months, has now fallen behind the world's richest woman.