XRP parent company Ripple CTO denies being a billionaire

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David Schwartz, CTO of San Francisco enterprise blockchain company Ripple, denied being a billionaire in a recent social media post.

During the massive XRP rally that occurred in 2018, Ripple's top boss emerged among the richest people on the planet. Ripple co-founder Chris Larsen's net worth soared to $54 billion. Larsen received 9 billion XRP tokens, which explains why his net worth has grown at such an astonishing rate.

When XRP reached its price peak, Ripple CEO Brad Garlinghouse's wealth was close to $10 billion.

Schwartz, who was hailed as Ripple's "trillionaire" by Forbes, chose to hold a 2% stake in the company and a salary instead of XRP tokens. Back in 2019, Forbes estimated his net worth at a relatively modest $90 million. In 2021, Schwartz said his net worth was "well under $170 million." "Circumstances have forced me to put a significant amount of my net worth into highly volatile assets. Obviously, I'm very happy with the results, but I'm always a little nervous because of the risk," he said in October 2021. In 2020, the Ripple CTO confirmed that he personally holds XRP, Bitcoin (BTC), and several other altcoins. Earlier this year, XRP became a hot topic due to a sharp rise in cryptocurrencies, pushing the Ripple-related cryptocurrency to the third place in market capitalization. Earlier this month, Forbes reported that Larsen's net worth increased by $6 billion in just one month due to the token's surge.

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