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The Winklevoss Twins’ Net Worth & Related Facts for 2023
The Winklevoss twins’ net worth has been up for debate since the brothers experienced a significant shift in their digital assets. Following the crash of crypto, bitcoin’s plummeting, FTX’s bankruptcy, and Genesis’ failure to provide liquid funds to their customers, the Winklevoss brothers are facing turbulent financial times themselves.
What Is the Winklevoss Twins’ Net Worth?
The Winklevoss twins are worth some $2.1 billion each. Their net worth fluctuates along with their investments. They invested in bitcoin and crypto startups and started their own cryptocurrency exchange company, Gemini.
(Forbes)
Other Facts about the Winklevoss Twins and Their Net Worth
The former Olympic rowers, Tyler and Cameron, have investments in a variety of digital assets and even have their own stablecoin called the Gemini dollar (GUSD), whose value is pegged to the value of a dollar. What is more, Winklevoss’ net worth goes beyond crypto as their family company is estimated to be worth around $7.1 billion.
They received $65 million in a settlement against Zuckerberg.
The brothers attended Harvard and were classmates with none other than Mark Zuckerberg. They went on to create ConnectU, then sued Zuckerberg for stealing and using their idea to create Facebook. The Winklevoss twins’ settlement agreement ensured that they got $65 million.
(Forbes)
They bought 1% of all bitcoin.
They used the settlement money they got in the case against Zuckerberg to start investing. A significant chunk of the money went towards buying bitcoin in 2012. They purchased 1% of all bitcoin at the time.
(Bloomberg)
They keep their investments transparent.
Tyler and Cameron Winklevoss’s net worth might be undisclosed at times, but unlike their peers, they keep their investments transparent. They openly post about their family company’s investments. In addition, they present the 75-plus investments they have on their Instagram and Twitter accounts.
(Bloomberg)
In 2014, they founded the crypto exchange Gemini, which was worth $7.1 billion in early 2022.
Their company Gemini provides storing, trading, buying, and selling cryptocurrency services. It operates with around 60 currencies and has its own token, the Gemini dollar or GUSD.
(Investopedia, CNBC)
Gemini’s daughter firm, Genesis, had to get $140 million from Gemini to compensate for funds in an FTX account.
Genesis revealed having $175 million locked in a FTX trading account, which has affected the withdrawal process for many who invested in its yield-generating product. However, for now it seems that no other products or companies have been affected or in any way connected with FTX. It remains to be seen how the worsening crisis in the crypto world will affect Gemini.
(Bloomberg)
Conclusion
The Winklevoss twins’ net worth includes around 1% of all bitcoin they purchased in 2012, their family company Gemini worth $7.1 billion, and significant investments in other digital assets.
Tyler and Cameron’s net worth in 2022 has fluctuated and will continue to do so because of the destabilized crypto economy. The former Olympians have made a name for themselves, but time will tell how the recent changes in the crypto market will affect their overall finances. Their net worth is currently estimated at $2.1 billion.
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