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Billionaire Watch

Meet the billionaire twins who bought $10m worth of Bitcoin when it still sold for $8

The Winklevoss twins’ early investment in Bitcoin has propelled them into the billionaire league.



Meet The Billionaire Twins Who bought $10m Worth Of Bitcoin When It Still Sold For $8

The digital asset economy has made many people rich. The current worth of Bitcoin, a digital asset that was trading a little above $100 in October 2013, is now near $60,000!

While many people were smart enough to invest in Bitcoin early, not many had the guts to go all out for it. Today, we are going to look at the identical twins who were crazy enough to invest heavily in cryptocurrency. The twins started investing in Bitcoin as early as 2012.

They are currently listed on the Forbes Billionaire List amongst the newcomers who reached a billion-dollar status due to their Bitcoin investing.

READ: Why intelligent investors are secretly buying Bitcoin

Meet the Winklevoss twins (worth $3 billion each) 

Cameron and Tyler Winklevoss are currently worth $3bn each. They started investing in Bitcoin as early as 2012 when the cryptocurrency still sold for $8 and splurged a whopping $10m to purchase the crypto asset, making them one of the biggest and earliest investors in cryptocurrency.

Their gamble paid off and today, they are worth a collective $6bn.

READ: Brutal losses hit crypto market amid fear of regulation

More investments in crypto 

The Winklevoss twins are not slowing down, they are instead, making further investments in cryptocurrency. Recently, they invested in a Bitcoin lending start-up named Block-Fi which is now valued at $3bn.


Battle with Mark Zuckerberg 

The Winklevoss twins are no strangers in Silicon Valley. They were Mark Zuckerberg’s classmates at Harvard and they once accused the tech billionaire of stealing their idea for Facebook.


A bitter legal battle between the two ended in the twins receiving significant cash and Facebook stock compensation from Zuckerberg. Some of their cash compensation was invested in cryptocurrency and it has indeed, paid off.

READ: U.S SEC Chair nominee says Bitcoin is transforming global finance

What you should know 

In their early days, cryptocurrencies witnessed an unstable growth path, rising and falling occasionally. This discouraged many people from investing heavily in it. The Winklevoss twins took the risk on Bitcoin and are now billionaires on Forbes list. Currently, they run their company, Gemini, a regulated cryptocurrency exchange, wallet and custodian that makes it simple and secure to buy Bitcoin, Ethereum and other cryptocurrencies.

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I Am A Business Analyst And Digital Media Enthusiast Covering Wealth And Business Leaders. Follow Me On Twitter

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Billionaire Watch

There are only 15 black billionaires in the world, here are the top 10

Three of the top ten richest black men in the world are Nigerians who made a huge percentage of their money from the Nigerian market.



Have you ever wondered how many black people in the world have a net worth of 1 billion dollars and above? Well, there are just 15. Black people make up less than 1% of all billionaires in the world according to Visual Capitalist.

According to the latest Forbes list of the world’s billionaires, there are 2,755 billionaires in the world and there are just 15 blacks amongst them. Here is a quick list of who they are and what they do.

Michael Jordan ( $1.6bn )

Michael Jordan is an NBA all-star great who made his fortune by landing lucrative deals with Nike for the world-famous Jordan Sneakers. He also has a couple of other investments but the Nike deal is the elephant in the room.

READ: 3 unbelievable facts about Warren Buffet, the world’s smartest investor

Kanye West ($1.8bn)

The controversial musician and fashion mogul made the headlines recently for his richest black man in history claim. His biggest business move was a lucrative apparel deal with Adidas which propelled his net worth to $1.8bn. His net worth is expected to grow in the coming years with another lucrative GAP deal in the bag.

Alexander Karp ($2bn)


African American IT Billionaire is the co-founder and CEO of data-mining firm Palantir Technologies, which received early backing from CIA investment arm, In-Q-Tel. His company works for top government bodies which include the CIA and the FBI. He identifies as a White American but his mother is African American making him a mixed race.


READ: Fintech: Ex-Google employee becomes billionaire in 24 hours

Oprah Winfrey ($2.6bn )

Oprah Winfrey is the only woman on the list. She made her fortune hosting a 25-year-old hit show which she successfully turned into a media empire. She also launched her own cable channel where she owns 25.5%. Oprah Winfrey’s strongest asset is her brand which she has built and honed over the years.

Patrice Mosepe ( $3.1bn )

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Patrice Motsepe is the richest black man in South Africa and the CEO of African Rainbow Minerals. He was the first black man to become a billionaire on the Forbes list. He bought low-priced mining shaft and made them profitable. He is also a sports investor owning one of South Africa’s top Football Clubs, Mamelodi Sundowns FC.

READ: Dangote set to earn N13 billion in dividend from his sugar business

David Stewart ( $3.7bn )

The IT mogul’s company World Wide Technology is worth over $12bn with big clients like Verizon, Citi bank and the Government. The company provides digital strategy, innovative technology and supply chain solutions to large public and private organizations around the globe.

Abdulsamad Rabiu ($4.8bn)

The Nigerian business Mogul owns a staggering 98.5% of BUA Cement. He is also the Chairman of BUA Group, a Nigerian conglomerate with large investments in cement production, real estate and sugar refining. He seems to be keeping close tabs on Aliko Dangote and recently had a brief squabble with him.

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Robert F. Smith ( $5.2bn )

Robert F. Smith is the founder of one of the best performing private equity firms in the world. He founded Vista Equity Partners in 2000 which has over $50bn in assets. The company has perfected the art of investing in software companies that go on to do well. Robert F. Smith however has a little dent in Tax evasion cases with the US Government.

READ: Nigerians dominate Forbes’ black billionaires list

Mike Adenuga ( $6.2bn )


The second richest man in Nigeria is also the second richest black man in the world. The telecommunication and oil mogul is the arrowhead behind two of Nigeria’s foremost Companies Globacom and Conoil. Globacom has 55 million subscribers while Conoil operates 6 oil wells.

Aliko Dangote ( $11.5bn )

The richest black man in Nigeria, Africa and the world makes the majority of his fortune from his cement brand which is the largest in Africa. Alhaji Dangote owns an 85% stake in his publicly-traded company.

He is also into Salt and Sugar manufacturing and is currently building the largest crude oil refinery in Africa.

What you should know

  • There are 15 black billionaires in the world and we just highlighted the top 10.
  • Out of the 2,755 billionaires in the world, only 15 are black.
  • The first, second and the fourth richest men are all Nigerians and they made a huge percentage of their money from the Nigerian market.

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Billionaire Watch

TikTok’s parent company, Bytedance now more valuable than Coca Cola and Exxon Mobil

A company founded 9 years ago is currently more valuable than a transgenerational business like Coca Cola and Exxon Mobil.



TikTok announces $250 million pledge to aid combat coronavirus, Tiktok set to reduce misinformation on its platform

TikTok’s parent company, ByteDance which was founded in 2012 is now more valuable than the world’s biggest soda brand Coca Cola and energy giants, Exxon Mobil.

ByteDance was founded by Zhang Yiming in 2012 and he went on to launch TikTok, a video sharing application in 2016. Tiktok immediately became a hit on the internet. In less than two years of its launch, it became the most downloaded app in the world according to Forbes.

With over 500m active monthly users, TikTok quickly gained the attention of big venture capitalist firms who invested more in it.

READ: Exxon begins talks with domestic firms to divest businesses in Nigeria

Shocking comparisons 

ByteDance was founded in 2012 and is currently more valuable than a company founded in 1892 (Coca Cola) and (1999) Exxon Mobil.

ByteDance, according to its company profile has over 60,000 employees while Coca Cola and its 300 bottling partners employ over 700,000 people. Exxon Mobil has an estimated 72,000 employees.

Difference in valuation

According to Bloomberg, ByteDance is currently trading at a valuation of more than $250 billion in the secondary market. The number is set to go up with some investors pegging the valuation at $350 billion.

ByteDance with a current valuation of $250bn is more valuable than Coca Cola which was recently valued at $235.33bn. ByteDance also beats Exxon Mobil which is currently valued at $237.08bn.


READ: Exxon Mobil to cut 14,000 jobs as pandemic hit oil demand, prices


What you should know 

  • The above story paints a clear picture of the power of the internet age. A company founded 9 years ago is currently more valuable than a transgenerational business like Coca Cola and Exxon Mobil.
  • According to Investopedia a valuation is the analytical process of determining the current (or projected) worth of an asset or a company.  An analyst placing a value on a company looks at the business’ management, the composition of its capital structure, the prospect of future earnings, and the market value of its assets.

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