Cameron and Tyler Winklevoss are business twins who have earned most of their wealth through cryptocurrencies. They are the founders of the Gemini exchange. It has never been on the list of the most popular cryptocurrency trading platforms, but is a fairly successful venture. How did the brothers dispose of the money they received from Mark Zuckerberg, how many bitcoins are in their wallets, and are they in danger of bankruptcy if the cryptocurrency price falls?
How Did Winklevoss Twins Become Rich?
Cameron and Tyler have never been poor. Their father is a successful businessman and professor at a prestigious business school. The brothers have always had the opportunity to receive start-up capital. The twins showed entrepreneurial talent from a young age. They have always wanted to make money on their own. Cameron and Tyler tried their hand at different areas, but the most profitable for them was the creation of their own social network.
The irony is that their project never caught on. However, their developments formed the basis of a lawsuit against Mark Zuckerberg. The founder of Facebook paid the brothers, according to various sources, from 65 to 200 million dollars. Despite all the past business successes and merits, this payment was the first biggest profit of Cameron and Tyler. This money would be enough for the two of them for a comfortable life. However, one successful investment increased their net worth by 10 times.
Cameron and Tyler Winklevoss Net Worth 2023
In 2017, Cameron and Tyler became billionaires for the first time. They remain in this status to this day. The largest capital they owned was approximately $6 billion. In 2023, this amount has become less – $ 2 billion. On our site you will find data on the net worth of other crypto industry leaders. Get to know them. This will allow you to understand that the stories about the big losses of the Winklevoss brothers do not bother them much. They remain one of the richest owners of cryptocurrencies. There are no YouTube traders who have at least half of their wealth.
The SBF scam and the FTX crash hit the market hard. The twins also suffered from this. However, their losses are primarily related to the fall in prices for digital assets. The founders of Gemini have distanced themselves from FTX and provided data confirming the stability of their platform.
Winklevoss Twins Income
Almost all of the brothers’ income is related to cryptocurrencies in one way or another. For some time they rented out real estate, which brought them about $150,000 a month. Later, they stopped wasting time on small projects, but time-consuming projects. Their main brainchild is the Gemini exchange. The daily trading volume on it reaches 30 million dollars. This is far from the highest. However, the exchange has developed a reputation as a reliable trading platform. This is the main source of income for the twins. Each year, the exchange can increase their capital by $2 million ($1 million each). However, investments in cryptocurrencies bring them the most money, or to be more precise, the growth of the capitalization of the crypto market. Given the size of their bitcoin wallet, updating the highs will allow them to become one of the richest people in the world. Potentially, their net worth may exceed $10 billion at the end of 2023 or early 2024 (with positive market dynamics).
Twins’ Crypto Assets
Businessmen decided to invest some of the money they received from the founder of Facebook in bitcoin. In 2013, they bought about 100 thousand bitcoins. They spent $11 million on it. At that time, they owned approximately 1% of all BTC, which made them one of the largest crypto investors in the world. This investment made them billionaires.
The men did not publish a report on the state of their personal wallets. Presumably at the moment they have no more than 50 thousand bitcoins. Part (10-20 thousand) they sold in 2017 and 2021. They used the remaining 30,000 bitcoins to launch their exchange. These are approximate data, but they are quite plausible.