The surge in the value of cryptocurrency Ripple last week catapulted the digital currency’s co-founder and chairman into fifth place on the Forbes list of the world’s richest people, ahead of Facebook founder Mark Zuckerberg.
When Ripple’s coin (XRP) hit an all-time high of $3.84 (£2.80), the net worth of Chris Larsen – who reportedly has 5.19 billion XRP and a 17pc stake in the company – jumped to $59.9bn on paper. By comparison, Mr Zuckerberg was at the time worth around $55bn.
Unfortunately for Mr Larsen, however, Ripple’s value has since tumbled to $2.41 and his Forbes ranking has slipped, far behind the three wealthiest men in the world: Microsoft founder Bill Gates, investor Warren Buffet and Amazon’s Jeff Bezos.
Current Ripple CEO Brad Garlinghouse, who according to Forbes owns a 6.3pc stake in Ripple and additional XRP tokens, has also seen his wealth see-saw over the past week, thanks…