Ripple CEO and crypto tycoon's fortune grows by billions after Trump's election

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CEOs such as Coinbase’s Brian Armstrong and Ripple’s Brad Garlinghouse saw huge financial gains following the election results. Armstrong, for example, made an additional $129 million from selling shares, while Coinbase's market cap soared by $21 billion. Armstrong’s stake in Coinbase increased by nearly $2 billion, bringing its total value to $6.4 billion.

Coinbase has also made significant political contributions, donating $74 million to various political action committees (PACs) to support elections. Armstrong's stock sale is part of its diversification strategy and ensures continued control of the company.

Ripple’s Garlinghouse saw even more significant gains following the election, as the value of the company’s native token, XRP, surged from $0.50 to $2.32. XRP’s surge in value has led to a 54.7% increase in its market capitalization over the past 30 days, making it the third largest among all digital assets. Garlinghouse also owns over 6% of Ripple and a large amount of XRP, which has more than tripled in value since the election.

Garlinghouse told Coindesk: “The cryptocurrency market has gained over $1 trillion since Trump’s victory — that’s the price Gensler is paying for stepping on the market’s neck, and he hasn’t even officially left yet.” Although earlier this year Ripple Labs' private valuation was last estimated at around $11 billion, but the election likely increased the value of Garlinghouse's shares, causing his personal wealth to soar.

Additionally, major investors in cryptocurrency companies such as Andreessen Horowitz (A16Z) also saw huge gains that exceeded their election-related investments. Ripple and A16Z have each donated tens of millions of dollars to political causes, with Ripple donating $73 million and A16Z donating $70 million.

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