Winklevoss Twins Net Worth:- Tyler and Cameron Winklevoss are American Olympians, entrepreneurs, and venture investors worth a combined $6 billion. This enormous net worth is partly due to an early investment in Bitcoin, albeit they could do so due to a seven-figure settlement with Facebook. Before amassing billions from Bitcoin, the Winklevosses were embroiled in a highly publicized court dispute with Facebook founder Mark Zuckerberg.
The Winklevosses claim that Mark Zuckerberg “stole” their concept for a social network. The evidence was overwhelming, and the twins ultimately received a $65 million settlement in Facebook shares. The twins subsequently invested this money in Bitcoin, which turned out to be a great move. Apart from their commercial and intellectual accomplishments, the Winklevosses are skilled rowers who participated in the 2008 Beijing Olympics together.
They are also the creators of Block-Fi, a Bitcoin lender, and Nifty Gateway, a digital auction site. Block-Fi raised $350 million in March 2021 with a value of $3 billion. That same month, a digital artist known as “Beeple” sold an NFT for $69 million on Nifty Gateway. Nifty Gateway was valued at $1 billion in April 2021. Gemini Space Station owns both Nifty Gateway and Block-Fi.
Money speaks in the investment world. In few cases, though, vindication is preferable to a colossal sum of money. True believers in the cryptocurrency revolution have transformed what was once considered an unusual peanut gallery in the financial world into the next trillion-dollar asset class during the last decade. And they’re ready to take a bow as they count their digital money.
Consider Cameron Winklevoss, the bitcoin entrepreneur who sued Facebook and his twin brother Tyler, alleging that Mark Zuckerberg stole their concept for the social networking site. In 2012, the Winklevii stored the pittance Zuckerberg offered them to leave in bitcoin. For years, they were derided. Two Harvard-educated rowers seek fame and money via digital currencies—alongside geeks, anarchists, and speculators, among others. Bitcoin is now flying to unprecedented heights and attracting a flood of adherents from traditional finance and society. As Zuckerberg’s public persona has become increasingly polarising, the Winklevii have something to say about Facebook’s demise: good riddance.
Cameron and Tyler soon after invested $ 10 million in a then-rare new digital sensation: Bitcoin. The cryptocurrency cost barely $ 8 per unit back then, a far cry from the current record high of $ 63,300.
According to Forbes ‘ list of billionaires, the surge of bitcoin, along with their investments in other firms, has increased the brothers’ entire fortune to $ 6 billion.
Additionally, in 2012, the twins launched Winklevoss Capital Management to make venture capital investments. To date, the couple has invested in at least 25 firms focused on digital assets.
His most recent investment was in Block-Fi, the rapidly expanding Bitcoin lending behemoth. The firm recently reported that it had secured $ 350 million in funding, valuing it at more than $ 3 billion.
When the Winklevoss twins first saw cryptocurrencies, they assumed it was either the next great thing or a hoax. After investigating and comprehending it, they determined that it was a necessary component of the currency’s future. According to New York Times reporting, the twins initially collected $11 million worth of Bitcoins in 2013. They purchased 1% of the total bitcoin supply while the price was approximate $8-9 and invested $1 million in BitInstant; by 2013, the business was processing 30% of all worldwide bitcoin transactions, according to Jason Williams’ book.