David Schwartz Denies Billionaire Status Despite XRP’s Surge

David Schwartz, the CTO of Ripple, has recently clarified that he is not a billionaire, despite the speculation surrounding his wealth during XRP's dramatic rise in 2018.

At the time, Ripple’s co-founder, Chris Larsen, saw his net worth soar to $54 billion, largely due to his 9 billion XRP tokens. Ripple CEO Brad Garlinghouse was also worth nearly $10 billion when XRP peaked.

Unlike his colleagues, Schwartz chose a 2% stake in Ripple and a salary instead of XRP tokens. In 2019, Forbes estimated his wealth at about $90 million, and by 2021, Schwartz noted his net worth was still “a lot less than $170 million.”

He had also admitted that much of his wealth was tied to volatile assets, making it a risky situation despite his satisfaction with the returns.

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In addition to XRP, Schwartz has confirmed that he holds Bitcoin and several other altcoins. Ripple’s resurgence earlier this year, with XRP climbing to the third spot in market cap, has reignited interest in the cryptocurrency.

As a result, Larsen saw a $6 billion increase in his net worth in just a month, fueled by the surge of XRP’s value.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.