FTX's Sam Bankman to Byju Raveendran: Forbes lists startup founders who lost nearly $100bn in one year
1 min read . Updated: 21 Feb 2023, 12:47 PM IST
PremiumFTX's Sam Bankman-Fried and Gary Wang along with Barry Silbert of Digital Currency Group were the biggest losers as their wealth tumbled the most to nil.
FTX's Sam Bankman Fried, Nik Storonsky of Revolut, Cliff Obrecht of Canva, edtech Byju's founders Byju Raveendran and Divya Gokulnath are some names that featured in Forbes list of 44 startup founders who have lost half of their wealth in the past one year.
Forbes reports shows that half the wealth of the billionaires behind unicorns has been wiped out, thus leaving this group of startup founders $96 billion poorer than they were a year ago.
FTX's Sam Bankman-Fried and Gary Wang along with Barry Silbert of Digital Currency Group were the biggest losers as their wealth tumbled the most to nil.
Guillaume Pousaz of online payments startup Checkout.com, lost 69 per cent of his wealth to settle at $7.2 bn, while Nik Storonsky of Revolut lost 54 per cent to be at $3.3 bn.
Nearly, twelves startup founders are no longer billionaires, Forbes list shows.
The 12 founders who are no longer billionaire include Sam Bank-Fried and Gary Wang of FTX who lost 100 per cent of their wealth along with Barry Silbert of Digital currency Group who also lost his entire wealth.
Sebastian Siemiatkowski and Victor Jacobsson of Swedish buy-now, pay-later startup Klarna, too saw their wealth go down by 85 per cent. Vlad Yatsenko of Revolut, Alex Atallah and Devin Finzer of Open Sea saw decline of 69 per cent in their wealth.
The reduction in wealth in the last one year of these founders have put them out of the billionaire list.
Interestingly, the list also includes Byju Raveendran and Divya Gokulnath of edtech Byju's who lost 31 per cent of their wealth to settle at $2.5 bn
See the whole list here:
