Wealth and Rich List
Brian Armstrong Net Worth 2024, Coinbase
What is Brian Armstrong net worth?
| Net worth | $6.5 billion |
| Full Name | Brian Armstrong |
| Date of birth | January 25, 1983 |
| Source of wealth | CEO of Coinbase |
| Nationality | American |
Brian Armstrong net worth 2024: Brian Armstrong is a billionaire American business executive and investor who is CEO of cryptocurrency platform Coinbase. He received media attention for his policy of keeping the workplace free of political activism.
Brian Armstrong net worth 2024 is estimated is estimated at $6.9 billion. Brian Armstrong is the chief executive of Coinbase Global, the largest cryptocurrency exchange in the United States.
A former Airbnb software engineer, Armstrong cofounded Coinbase in San Francisco in 2012 with former currency trader Fred Ehrsam.
Education and early life
Armstrong was born on January 25, 1983, near San Jose, California; both of his parents were engineers. He attended Rice University in Texas, and earned a dual bachelor’s degree in economics and computer science in 2005, followed by a master’s in computer science in 2006.
While at Rice, he started a business matching tutors to students, and after graduating, spent a year in Buenos Aires while working for an education company. While in Buenos Aires, he saw firsthand the effects of hyperinflation that were affecting Argentina at the time.
Brian Armstrong Career
Armstrong’s early career included working as a developer for IBM and consultant at Deloitte. In 2010, he came across the Bitcoin white paper published under the alias Satoshi Nakamoto.
In 2011, he joined Airbnb as a software engineer, and was exposed to payment systems in the 190 countries Airbnb operated in at the time.
While at Airbnb, he saw the difficulties of sending money to South America. He began working weekends and nights to write code in Ruby and JavaScript to buy and store cryptocoins.
In 2012, he entered the Y Combinator startup accelerator and received a $150,000 investment, which he used to fund Coinbase.
Coinbase
In 2012, Armstrong and Fred Ehrsam co-founded Coinbase, as a way for cryptocurrency enthusiasts to trade bitcoins and other digital currencies. Armstrong was its first CEO.
A 2018 funding round valued the company at $8.1 billion, and in December 2020, the company filed with the SEC to go public through a direct listing.
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Following a direct listing in April 2021, Coinbase’s market capitalization rose to $85B, and Armstrong’s personal net worth passed $10B.
Armstrong self-funded and founded the scientific research site ResearchHub, modeled on the GitHub code repository, as a way of making research papers available to the public.
Philanthropy
In 2018, Armstrong was the first cryptocurrency executive to sign the Giving Pledge, when he pledged to give away the bulk of his wealth to philanthropic causes. He also set up a philanthropic effort called GiveCrypto.org, to allow people to make public or anonymous donations to help others living in poverty.
Brian Armstrong Net Worth
Brian Armstrong net worth is estimated at $6.9 billion. Coinbase went public in a direct offering on Nasdaq on April 14, 2021, briefly reaching a market capitalization of $100 billion. Armstrong owns a stake of about 19% in Coinbase, which earned $322 million in profits on nearly $1.3 billion revenue in 2020.
Cofounder Fred Ehrsam left the company in 2017 but still owns 6% and serves on the board of directors; he’s also a billionaire.
Source : Glusea
