With the increasing popularity of cryptocurrencies, one of the companies that emerged as a winner is CoinBase. The largest crypto exchange in the US also plans to go public very soon through a direct listing. And based on the estimated share prices of the company at $343.58, the CEO of CoinBase will have a net worth of about $14 billion. He holds about 39.6 million shares of the company divided into class A and class B holdings.
CoinBase’s IPO and holdings of its CEO
Armstrong, the CEO of Coinbase, also co-founded the company back in 2018. And over the years, he has accumulated numerous shares of the company. In fact, another great thing about the IPO is that Armstrong will be able to sell his shares of the company as he pleases, as there won’t be any waiting period. This is because Coinbase has opted for a direct listing which doesn’t look to raise capital. Its main idea is to let existing shareholders sell their stocks in the open market. The IPO of coinbase will also add another name to the list of billionaires. Armstrong will become one of the major names in the tech billionaire industry.
The CEO of Coinbase has also been in the midst of many controversies, but none of that has stopped the growth of the company. These controversies revolved around the ill-treatment of black workers and several other sensitive matters. But as the time of the listing pulls closer, Coinbase seems to register even more increase in their trades and consecutively their net worth.
Emerging billionaires in 2020-21
In 2020-21 there were numerous individuals who got the title of billionaires. One such person was Zoom CEO, Eric Yuan. His app became one of the most famous platforms for video calls and conferences for offices and colleges. And the share price of the company received a huge boost during the pandemic. This also boosted his net worth to $16 billion. Other company CEOs like Jack Dorsey, the founder of Twitter and Square, have also seen a massive increase in his wealth after the huge rally of Square. This came shortly after their Bitcoin investments.
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