Ripple founder become the world's fifth richest man

[bitcoinzen]

You are unlikely to have heard of him, but Chris Larsen last week briefly overtook Facebook’s founder Mark Zuckerberg to become the world’s fifth richest man. Larsen co-founded the cryptocurrency Ripple, which peaked at £2.80 last week – up from 15p early last month..

The American is said to own 5.2 billion Ripple tokens and a 17 per cent stake in Ripple Labs, the firm behind them, pushing his estimated wealth close to $60 billion (£44 billion) – at the time making him fifth in Forbes’ ranking. Only Microsoft’s Bill Gates, investor Warren Buffett, Amazon’s Jeff Bezos and Zara’s Amancio Ortega were ahead of him in the global wealth stakes..

Figures obtained by The Mail on Sunday show crime involving Ripple’s rival Bitcoin has trebled in the City. Some 1,000 crimes relating to Bitcoin were reported to the City of London Police last year, including 500 in the past four months alone, up from 320 in the whole of 2016..

http://www.thisismoney.co.uk/money/news/article-5242607/Ripple-founder-beats-Zuckerberg-fifth-richest-man.html

[Herlina]

5.2 billion XRP? this equals 5.2% of XRP Max supply
Could all the Ripple founders get the same amount of coins? I really think the XRP distribution system is horrible

[qiman]

That is very impressive and no wonder. RIPPLE now has a huge marketcap and some people say it will over take Bitcoin in marketcap quite soon. If you see already RIPPLE is just less than half the marketcap of Bitcoin and now payment processors and transfer sites like Western Union will be using the RIPPLE protocol. So he is going to earn even more and become a bigger Whale.

[KryptoKai]

This is simply a bankers coin, i'm surprised that the crypto community pushed this coin right up to the top (almost). The rumours of a coinbase listed have been quashed so perhaps it will come crashing down soon

[Caesar-Giulius]

Is this why Mark want to look into crypto in Year 2018? 

Joke aside, the amount of ripple hold by one founder is too much. How many founders does ripple have? And how many % of the total supply is controlled by the all the founders?

[PanGiMoon]

I'm not surprised at such news, knowing that the one who founded such a business can not be poor. Therefore, the founders of many alts who are now in the lead have a good capital, mostly raised on ordinary users by this very coin. So who cares who the roots.

[lenj]

5.2 billion XRP? this equals 5.2% of XRP Max supply
Could all the Ripple founders get the same amount of coins? I really think the XRP distribution system is horrible

Congratulations to larsen has defeat facebook founder from the fifth richest man in the world.

Regarding the issue that i have read from internet and also from this forum, many people said that ripple supply can be manipulated by the developer. They can make new ripple like in the news. I dont know if its true or not but if so, i think this is horrible. It can make new wealth and make many people fall into the hole of poor.

[alani123]

With a centrally structured coin like ripple, he could be even richer by centrally issuing more tokens. The thing is, the open market than ripple trades on makes it highly volate. The value could drop any day now, because profit taking is bound to happen.

[kewlc3s]

Amazing news. It was first tweet that I saw today. “We are working with three out of the five largest in the world, and we’ll publically make those announcements with those customers when they are ready,” Garlinghouse said on #FOX Business’ “Countdown to the Closing Bell.” After announcement he will be in top3 for sure

[sebinator]

20 billion XRP was given to the creators (have in mind that max. supply is 100 bln). And an unknown amount was initially given to banks and institutions to encourage adoption. This is why I wouldn't invest in XRP.