Ripple's co-founders and its CEO are among the richest people on Earth
Ripple is the company behind the XRP token, the number two cryptocurrency on earth currently worth over $126 billion. It is the first altcoin to make it past the $100 billion market cap and this has helped some of its co-founders and its current CEO make it to the Bloomberg Billionaire Index list, as they collectively own billions worth of XRP tokens.
According to Forbes, here are their holdings:
- Co-founder Chris Larsen: 5.19 billion XRP + 17% stake in Ripple
- CEO Brad Garlinghouse: Undisclosed amount of XRP+ 6.3% stake in Ripple
- Co-founder Jed McCaled - 5.3 billion XRP
Notably, Ripple's XRP token is up 28% in the last 24-hour period, and over 50,000% in the last year as it was $0.006 in early 2017 and is now over $3.
This means their net worth is, in order, of $38 billion, $9.5 billion according to Forbes, and $17 billion. Adding all of this up, these guys own the big cut of Ripple - an undoudedtly centralized cryptocurrency.
Per Forbes, Ripple the company owns 61.3 billion XRP, 55 billion are held in escrow. So far, there are only 38.7 billion XRP rokens in circulation. Granted other cryptocurrencies are somewhat centralized but, as I always say, trade carefully.
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Thanks for sharing the stats on the money these scammers are making off the Ripple hype. It is a crypto bull market and people are piling into anything that makes a little bit of noise. But Ripple coin has no intrinsic value unless it is really being used as a token for money transfer. Ripple currency is not even decentralized and it is far away from the concepts of cryptocurrencies. It is one of the biggest scam in blockchain world. Be very careful and make the money and exit. Ripple company may be valuable as they are getting good support from banks but that won't make you rich who is buying Ripple tokens with no value. I am sure these founders will dump Ripple soon and make tons of money.
Yes, yes and yes!
It's just a matter of time that XRP (the coin) will be taken down. Even if they finally find a use of it, it will be too late: the SEC will sue them for proposing an investment token not backed by any performance for several years.
I wrote a short article about my thought on Ripple and XRP. Feel free to give it few minutes of your attention:
https://steemit.com/ripple/@pada-1/my-thought-about-ripple-xrp