As the crypto world grapples with the fallout from the demise of one of its most recognisable advocates, much is at stake for the industry’s other titans, whose wealth skyrocketed in 2020 and 2021 as individuals and institutions alike ploughed into digital assets. Zhao, 45, debuted on the Bloomberg Billionaires Index of the world’s richest people in January with a US$96 billion fortune, putting him in the same stratosphere as the founders of Google and former leaders of Microsoft.
Zhao’s estimated net worth is US$16.9 billion after a US$78.9 billion decline this year that’s third only to Meta Platforms’ Mark Zuckerberg and Tesla’s Elon Musk.
The Winklevoss twins, meanwhile, have seen almost half of their wealth erased and are now worth US$3 billion each. The fortunes of Coinbase’s Armstrong and fellow co-founder Fred Ehrsam, 34, have tumbled 78 per cent and 43 per cent, respectively.
As for Novogratz, he’s lost 64 per cent of his net worth this year and is now down to US$1.8 billion, according to the Bloomberg wealth index.
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