Vitalik Buterin: I’m no longer a Billionaire

Vitalik Buterin co-founder and CEO of Ethereum, recently stated that he is no longer a crypto billionaire. In response to a tweet about other billionaires, Elon Musk and Jeff Bezos, who are at the top of the list of the world’s wealthiest people, he admitted as much.

(btw btw I'm not a billionaire anymore)

— vitalik.eth (@VitalikButerin) May 20, 2022

Ethereum was founded in 2014 by Vitalik and several other developers, including Charles Hoskinson (creator of Cardano) and Joseph Lubin. Vitalik has a digital wallet with an estimated value of $1.5 billion in ETH as of November.

However, the value of the second largest cryptocurrency has dropped by roughly 55% since then, making Vitalik a “non-billionaire” currently.

Changpeng Zhao, the CEO of Binance, is among the crypto billionaires who have lost a significant portion of their money (aka CZ). His net worth has dropped by more than $80 billion, billionaire rankings (84 percent of his fortune).

When applauding billionaires Elon Musk and Jeff Bezos for their willingness to respond to ordinary people on Twitter, Vitalik brought up the matter of seeing his riches dwindle. Buterin bemoaned the fact that the value of major executives “reaching directly to the people” seemed to be less significant these days, according to Buterin.

Vitalik has been generous with his cryptocurrency fortune. He contributed 5% of the total circulating supply of Shiba Inu canine coins to an Indian health foundation last year to aid in the relief of the pandemic. This donation was valued at $1 billion at the time. He also donated $1 million worth of Ethereum to the Dogecoin Foundation.

Buterin is a member of the Dogecoin board of directors, and he once tweeted that he hopes DOGE would eventually move from Proof-of-Work to the Proof-of-Stake method that Ethereum is set to use in August.