Alex Mashinsky is an influential inventor who has 50 patents under his name. He is also an entrepreneur who helped found multiple tech firms. He initially gained prominence with the technology company Arbinet. More recently, he runs one of the biggest crypto lending platforms in the world, the Celsius Network. As of 2022, Alex Mashinsky has an estimated net worth of $50 million.
Early Life
On October 5, 1965, Mashinsky was born in Soviet Ukraine. In 1972, his family relocated to Israel and he spent most of his childhood there. His father worked as a tinkerer, and Alex imitated his old man.
He had the ability to tap into public phone lines at a young age. Mashinsky used to buy and sell impounded items at customs auctions at Tel Aviv’s Ben Gurion airport when he was a teenager.
Mashinsky studied electrical engineering at three different universities but did not complete his studies. He decided to serve in the Israeli Army and in the late 80s, he moved to New York.
Early Career
He started his career in the US by owning a company that traded chemical delivery contracts. The business had a setback in 1989, so Alex worked at a software company called A+ Systems.
Alex Mashinsky created VoiceSmart, one of the first startups to provide computer-based Voice over Internet Protocol (VoIP) phone service, in the early 1990s. In 1996, he gained traction by founding Arbinet, a VoIP marketplace.
He sold his share in Arbinet in 2005 and utilized some of the money to launch the mobile car booking company GroundLink. It got partnerships with many car services and became a success.
Further Ventures
For his efforts, Alex won various honors, including the Albert Einstein Technology Medal, Crain’s Top Entrepreneur Award, and the Technology Foresight Award for Innovation. Alex eventually moved toward financing startups after a few successful exits.
He established Governing Dynamics, an early-stage venture capital company. Aside from traditional businesses, Governing Dynamics has invested in cryptocurrencies and blockchain technology.
Because he believes in its potential, Alex Mashinsky ventured into crypto himself, creating the Celsius Network in 2017. It’s a site that lends digital assets to users, offering up to 17% APY to clients looking for yield.
Celsius one of the leading platforms in this space competing against the likes of BlockFi and Coinbase. They have nearly $17 billion worth of assets under management and 130,000 BTC is staked on their platform.
Net Worth and Earnings
Alex has invested in more than 60 businesses over the years, with numerous triumphs and failures. As a startup entrepreneur, he has reportedly raised over $1 billion in funding for his ventures. His experience has also made him a public speaker that appeared in over 250 worldwide events.
It’s worth noting that the Celsius Network token, CEL, has a market cap that’s continuously been in the billion-dollar bracket. This is why he is considered by Cointelegraph as one of the top 100 people in crypto in 2021. His fortune is currently worth $50 million.
Personal Life
Mashinsky is a married man and his wife’s name is Krissy. They met in 2005 but didn’t tie the knot until 2011. The couple is currently raising six children together. They have three boys and three girls. Alex and his family reside in New York City.
