Ripple CTO David Schwartz Clarifies Billionaire Status Amid XRP Surge Speculations

According to Odaily, Ripple's Chief Technology Officer, David Schwartz, recently clarified that he is not a billionaire, despite speculations about his wealth during the significant rise of XRP in 2018. At that time, Ripple co-founder Chris Larsen's net worth soared to $54 billion, primarily due to his holdings of 9 billion XRP. Ripple CEO Brad Garlinghouse's net worth also approached $10 billion at XRP's peak. Unlike his colleagues, Schwartz opted for a 2% stake in Ripple and a salary instead of XRP. In 2019, Forbes estimated his wealth at approximately $90 million, and by 2021, Schwartz noted his net worth remained "well below $170 million." He acknowledged that much of his personal wealth is tied to volatile assets, which, while providing satisfactory returns, also pose risks. Besides XRP, Schwartz confirmed holding Bitcoin and several other altcoins. Notably, Larsen's net worth increased by $6 billion in just one month during the rapid rise of XRP.