Ripple CTO David Schwartz Denies Being a Billionaire: The Truth Behind the Wealth

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Ripple's Chief Technology Officer David Schwartz recently clarified on social media that he is not a billionaire. Despite Ripple co-founder Chris Larsen's net worth soaring to $54 billion during the XRP price surge in 2018, Schwartz did not become one of them due to XRP wealth.

Schwartz's Wealth Situation

Schwartz does not hold a large amount of XRP but instead chooses to hold 2% of Ripple's shares and receive a salary. Forbes estimated his net worth to be around $90 million in 2019, and in 2021, Schwartz himself stated that his net worth was far below $170 million. He mentioned that due to the high volatility of crypto assets, he invested a significant amount of wealth into these high-risk assets, and although he is satisfied with the results, he remains somewhat anxious.

XRP Surge and Wealth of Ripple's Leadership

When XRP's price surged, Ripple's CEO Brad Garlinghouse's wealth approached $10 billion. Larsen's wealth skyrocketed in 2018 due to holding a large amount of XRP tokens. In 2021, XRP's market performance drew attention again, leading to a rapid increase in Larsen's wealth.

Although Schwartz did not become a 'trillionaire', he remains one of Ripple's key figures with a profound impact on the company and the market.

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