Forbes Crypto Billionaires List: CZ Tops for Third Consecutive Year, Paolo Ardoino Makes Debut on the List

According to Forbes' 2024 Global Billionaires List, the rise of cryptocurrency has propelled many individuals to become billionaires. Binance founder Changpeng Zhao CZ has been the richest in the cryptocurrency field for three consecutive years and ranks among the top fifty globally. The individuals with the highest increase in assets are MicroStrategy founder Michael Saylor and Coinbase CEO Brian Armstrong, who have claimed the third and second positions respectively due to the surge in their stock prices. Additionally, the four major shareholders of stablecoin issuer Tether, including CEO Paolo Ardoino, have made their debut on the list.

CZ's Net Worth Reaches $32.5 Billion

Last year, the founder of the cryptocurrency exchange Binance, Zhao Changpeng (CZ), agreed to pay a $200 million personal fine to settle federal money laundering charges brought by the U.S. Department of Justice and the Commodity Futures Trading Commission. He also agreed to step down as CEO of Binance. However, this had almost no impact on his wealth. According to company documents and conversations with former employees, his stake in Binance is estimated at around 90%, worth approximately $32.5 billion.

Brian Armstrong's Net Worth at $11.2 Billion

Brian Armstrong co-founded the cryptocurrency exchange Coinbase with Fred Ehrsam in 2013 and is the largest individual shareholder in the company, owning 18% of the shares. Coinbase's stock price has risen by 50% this year, more than tripling since last year, with a market value close to $60 billion. Since November last year, Armstrong has sold over $170 million worth of Coinbase shares through trading plans.

Armstrong is selling shares to fund scientific research, and with Coinbase's stock price reaching $200, dividends can finally be paid!

Michael Saylor's Net Worth Reaches $4.4 Billion

Percentage-wise, Saylor is the billionaire with the largest increase on this year's list. The software company MicroStrategy has recently transformed into a Bitcoin development company, with its stock price rising by nearly 500% compared to last year. The company currently holds approximately 214,246 bitcoins, surpassing 1% of the total Bitcoin supply, making it the largest Bitcoin corporate holder in the world.

In addition to owning MicroStrategy stock, Saylor also has a significant personal Bitcoin reserve. He stated that he held 17,732 bitcoins in 2021, which he purchased at an average price of $9,882 per coin. He is currently selling MicroStrategy stock worth approximately $200 million and plans to use the proceeds to buy Bitcoin.

MicroStrategy's founder Michael Saylor has initiated a daily stock selling plan to buy Bitcoin.

Paolo Ardoino's Net Worth Reaches $3.9 Billion

Last year, Ardoino was promoted to CEO of Tether and holds approximately 20% of the company's shares. He joined Bitfinex, Tether's sister company, in 2014 as a senior software developer. Ardoino previously worked as a computer programmer at a startup.

However, Ardoino's assets are less than Tether's CFO Giancarlo Devasini, who Forbes estimates owns 47% of Tether's shares, with a net worth of up to $9.2 billion.