Coinbase CEO Brian Armstrong’s estimated net worth increased 10-fold last year to $11.5 billion, according to China’s Hurun Research Institute. CEO of the largest cryptocurrency exchange in the United States, Coinbase, topped the list of global industry billionaires by China’s Hurun Research Institute.
Published on March 2, the latest Hurun report provides a brief overview of the world’s richest, stating that the number of global billionaires has increased by nearly 50% to reach over 3,000 people over the past five years. The report includes 17 “blockchain billionaires” or industry entrepreneurs who made their fortune “mainly from cryptocurrencies” in January 2021.
According to the report, Coinbase CEO Brian Armstrong tops the list of the world’s crypto billionaires, with his net worth growing tenfold from $1 billion last year. According to Hurun’s data, Armstrong now has an estimated fortune of $11.5 billion ahead of Coinbase ‘s imminent initial public offering . The company officially announced its IPO plans in December 2020 in a draft filed with the United States Securities and Exchange Commission.
Sam Bankman-Fried, founder and CEO of Alameda Research and the FTX Exchange, is ranked second richest, with a net worth valued at $10 billion. The executive is a new entrant to Hurun’s roster following FTX’s massive growth in 2020 .
Changpeng Zhao, CEO of the world’s largest cryptocurrency exchange Binance, is in third place with an estimated total wealth of $8 billion, 200% more than last year. In 2020, Zhao was featured at the top of the Hurun list of crypto billionaires, surpassing Bitmain co-founder Micree Zhan Ketuan.
Hurun’s new list of crypto billionaires includes a number of major industry players such as Ripple co-founders Chris Larsen, Stellar co-founder Jed McCaleb, Digital Currency Group CEO Barry Silbert, the Winklevoss brothers, MicroStrategy CEO Michael Saylor and others. The list features a total of 11 new entrants to the roster, including industry major investor Tim Draper and Galaxy Digital founder and CEO Michael Novogratz.
