u.today
David Schwartz, the chief technology officer at San Francisco-based enterprise blockchain company Ripple, has denied being a billionaire in a recent social media post.
During the massive $XRP rally that took place in 2018, the top Ripple bosses famously appeared among the richest people on the planet.
The net worth of Ripple co-founder Chris Larsen famously surged to $54 billion. Larsen received 9 billion $XRP tokens, which explains why his net worth swelled at such a dramatic pace.
Ripple CEO Brad Garlinghouse was worth close to $10 billion when $XRP reached the price peak.
Schwartz, who was described as Ripple's "trillion-dollar man" by Forbes, opted for a 2% stake in the company and a salary instead of $XRP tokens. Back in 2019, Forbes estimated that his net worth stood at a relatively modest $90 million.
In 2021, Schwarz stated that his net worth was "a lot less than $170 million."
"Circumstance has forced me to have a lot of my net worth tied up in highly volatile assets. Obviously, I'm very happy with how it's turned out, but always a bit on edge due to the risk," he said back in October 2021.
In 2020, the Ripple CTO confirmed that he personally held $XRP, Bitcoin (BTC) as well as several other altcoins.
Earlier this year, $XRP became the talk of the town because of a massive cryptocurrency rally that pushed the Ripple-affiliated cryptocurrency to the third spot by market cap.
Earlier this month, Forbes reported that Larsen managed to add $6 billion to his net worth in a mere month due to the surge of the token.