How A $500 Million Cash Infusion From Wall Street Adds Billions To Ripple’s Founders’ Net Worths

ByNina Bambysheva,

Forbes Staff.

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rypto conglomerate Ripple has raised $500 million at a $40 billion valuation, led by funds tied to Fortress Investment Group, Citadel Securities as well as Pantera Capital, Galaxy Digital, Brevan Howard and Marshall Wace.

The deal follows a $1 billion tender offer at the same valuation and lifts cofounder Chris Larsen’s net worth to an estimated $13.8 billion, up from $10.2 billion. CEO Brad Garlinghouse also joins our billionaire ranks, with an estimated $3.5 billion fortune based on a 6% stake in the company and XRP holdings. Arthur Britto, one of the XRP Ledger’s creators, is likewise a billionaire: he holds at least 1.3 billion XRP in wallets tracked by Gray Wolf Analytics, valued at roughly $3 billion.