Crypto and stock market moguls have crashed on Forbes’ youngest billionaire list. Here are the 4 who reached number one this year. | Currency News | Financial and business news

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Sam Bankman-Fried co-founded FTX in 2019 and is its CEO.
  • An explosion in crypto and memes stock trading has propelled several new faces to the top of Forbes’ Youngest Billionaires list this year.
  • The richest newcomer is FTX CEO Sam Bankman-Fried, who, at just 29, is worth $ 22.5 billion.
  • The richest American on the Forbes 2021 list was Jeff Bezos, worth $ 201 billion.
  • Sign up for our daily newsletter here, 10 things before the opening bell.

An explosion in crypto and memes stock trading has propelled several new faces to the top of Forbes’ Youngest Billionaires list this year.

The richest newcomer is FTX CEO Sam Bankman-Fried, who, at just 29, is worth $ 22.5 billion, according to Forbes. FTX’s massive growth this year alone has seen the crypto exchange sign major sponsorship deals with NBA teams, expand its U.S. branch, and move toward regulatory adoption.

Lagging behind Bankman-Fried are Coinbase co-founders Fred Ehrsam and Brian Armstrong, aged 33 and 38, respectively.

After helping start Coinbase in 2012, Ehrsam, worth $ 3.5 billion, left the crypto exchange in 2017, but retained a significant stake in the company, whose value exploded at the following its direct listing of $ 100 billion. Armstrong, who is the CEO, has a much larger stake than his co-founder, bringing his net worth to $ 11.5 billion.

Then there’s Robinhood co-founder Baiju Bhatt, 36 years old and worth $ 2.9 billion. He stepped down as co-CEO of the retail broker in 2020, leaving Vlad Tenev as sole CEO. For his part, Tenev “narrowly missed the cut” to make it into America’s top 400 richest people, according to Forbes.

For the larger Forbes 400, six of the seven crypto entrepreneurs listed are new this year, including Gemini co-founders Cameron and Tyler Winklevoss. The only crypto mogul to make a repeated appearance is Jed McCaleb, who founded several notable crypto companies, including Mt. Gox, Ripple, and Stellar.

The richest American on the Forbes 2021 list was Jeff Bezos, worth $ 201 billion. This contrasts with the Bloomberg Billionaires Index, which puts Elon Musk above him, at $ 211 billion compared to Bezos 186 billion.


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