PANews reported on February 27th that, according to Forbes, secondary market trading suggests that stablecoin issuer Tether could be valued at as high as $375 billion, placing its owners among the world’s richest people. Industry sources indicate that Tether is trading in the secondary market at a range of $350 billion to $375 billion. Forbes currently values Tether at approximately $200 billion, still significantly higher than its $50 billion valuation a year ago.
Based on a $200 billion valuation, Chief Financial Officer Giancarlo Devasini, holding approximately 44-45% of the shares, would have a net worth of about $89 billion. CEO Paolo Ardoino and former CEO Jean-Louis van der Velde would each hold approximately 19%, with a combined net worth of about $38 billion. General Counsel Stuart Hoegner would hold approximately 12%, with a net worth of nearly $25 billion. If calculated using the lower end of the secondary market valuation of $350 billion, Devasini’s shareholding would be worth over $156 billion, enough to place him among the world’s top ten richest people, surpassing Warren Buffett’s current net worth of $147.8 billion.
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