Popularly known for co-founding the company responsible for creating the cryptocurrency Ripple (XRP), Chris Larsen is an angel investor and corporate executive who made his money by being involved in the making of various tech startups in Silicon Valley. According to Forbes, Chris Larsen has a net worth of $3.3 billion in 2022.
Larsen was born on November 30, 1960, in San Francisco, California. His mother was a freelance illustrator, and his father was employed by United Airlines as an airplane mechanic.
After completing his high school education, he went to San Francisco State University to study international business and accounting. He earned his bachelor’s degree in 1984.
Right after graduating, Chris worked as an auditor for the energy company Chevron. He also attended Stanford Graduate School of Business to get his MBA in 1991.
Chris started working for a mortgage lender, but he quit in 1992 to start a mortgage business of his own with a colleague named Janina Pawlowski. They launched E-Loan, one of the first online mortgage lenders in America.
He served as the chairman and CEO of the successful company. He stepped down from his position in 1995 to start the lending firm Prosper Marketplace. E-Loan was sold to Banco Popular later that year.
With Prosper Marketplace, Chris Larsen became known as a top player in the peer-to-peer lending business. He was the company’s CEO until he chose to resign in 2012. However, he still remained chairman of the finance enterprise.
Joining the Crypto Industry
The businessman co-founded and became the CEO of the tech company OpenCoin in 2012. It started working on Ripple, a revolutionary payment protocol. It allows for the direct and immediate movement of funds between two parties.
In 2013, the startup was rebranded as Ripple Labs, Inc. They also began using a cryptocurrency called XRP. A year later, it was briefly second to Bitcoin as the biggest crypto by market cap.
In 2022, Larsen shared his thoughts on the leading crypto, saying that Bitcoin should make its mining system more environmentally friendly. He has received criticism for this, but Chris stands firm with his green campaign. He also founded the Larsen Lam Climate Change Foundation.
Net Worth and Earnings
Chris Larsen has earned a lot in his early business ventures. It is reported that he owned 40% of E-Loan with Janina Pawlowski before it was eventually sold. He also gets a hefty amount as the chairman of Prosper Marketplace.
He has a 17% stake in Ripple Labs, Inc. But that’s not the only way he earns from crypto. He also has a personal holding of 5.19 billion XRP. This has made his net worth rise and fall over the years, but he currently has a fortune worth $3.3 billion.
The billionaire tech entrepreneur, crypto advocate, and environmentalist is happily married to his wife, Lyna Lam. The couple have two children together. Their family resides in a large estate in The Highlands community in Seattle, Washington.