Chris Larsen, the former CEO of Ripple which issues the cryptocurrency token called XRP, became an overnight multi-billionaire after the value of XRP jumped from $0.25 in December last year to $3.16 on this Wednesday. The cryptocurrency now ranks as the second biggest after Bitcoin.
The sky-high value of the cryptocurrency has put Larsen ahead of Google co-founders Larry Page and Sergey Brin, at least on paper. He has shot past above Charles Koch, and David Koch, right below Oracle’s Larry Ellison.
Larson holds a 5.19 billion XRP and a 17% stake in Ripple which made him take advantage of XRP’s recent rise. So, in total, he has control over 15.6 billion XRP. As of writing, Larson’s net worth is around $54.2 billion (XRP value $3.48, according to Coinmarketcap). Earlier, the value of XRP reaching $3.84 (net worth $59.9) made him reach just below Mark Zuckerberg who stands fourth on Forbes World’s Richest list.
For the executive chairman of Ripple to become the world’s richest person by defeating Jeff Bezoz, the value of XRP has to reach $6.41. Predictions are being made that might happen in a matter of weeks. But, if it does, the next question is how he would convert the same into cash without crashing the cryptocurrency’s value.