Business magazine Forbes published its 2018 Top 400 list on October 3, naming the years top American Billionaires, and Ripple’s former CEO and Co-Founder, Chris Larsen, is on the list, grabbing the 383rd spot.
Forbes evaluates each billionaire’s assets and stakes in public companies to help it create its list. However, due to the hyper-volatility of cryptocurrencies, Forbes opted to provide ranges instead of precise figures.
Forbes estimates Larsen’s net worth to be over $2 Billion, based on the former CEO’s holdings of 5.2 Billion Ripple Tokens (XRP). Larsen’s worth was previously estimated at nearly $60 Billion in late 2017’s crypto boom.
While many would group Ripple alongside other cryptocurrencies, its purpose is different, as it also works as a decentralized payment settlement solution for banks and financial institutions that is both fast and scalable. Several major firms have started testing xRapid, including firms such as Western Union and Moneygram, but none have committed to xRapid fully.
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