⬅ # 227 Graeme Hart|# 229 Michael Kim

# 228 Brian Armstrong 

$9.90B

Real Time Net Worth
as of 7/12/2024
-$251.5M (-2.54%)

# 228 Brian Armstrong 

$9.90B

Real Time Net Worth
as of 7/12/2024
-$251.5M (-2.54%)
OccupationCofounder and CEO, Coinbase
Source of WealthCryptocurrency
Age41
ResidenceSan Francisco, California
EducationBA/Economics, Rice University; MA/Science, Rice University
Age-Adjusted Net Worth$35.8B
Brian Armstrong
Brian Armstrong
United States
Net worth: $9.90B

Self-Made Score 

Wealth History

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Biography

Overview

Brian Armstrong, born January 25, 1983, is an American billionaire and CEO of Coinbase, the largest cryptocurrency exchange in the United States.
He co-founded Coinbase in 2012 with Fred Ehrsam, a former currency trader, and the company went public on Nasdaq in April 2021.
Armstrong's stake in Coinbase, approximately 19%, contributes significantly to his billionaire status.

Early Life Education

Born near San Jose, California, Armstrong's parents were both engineers.
He attended Bellarmine College Preparatory for high school and later pursued dual bachelor's degrees in economics and computer science at Rice University, followed by a master's in computer science.
During his time at Rice, he started a business matching tutors to students and spent a year in Buenos Aires working for an education company.

Career

Armstrong worked as a developer for IBM and a consultant at Deloitte before discovering Bitcoin in 2010.
In 2011, he joined Airbnb as a software engineer and experienced challenges with payment systems, particularly in South America, sparking his interest in cryptocurrency.
He co-founded Coinbase with Fred Ehrsam in 2012, receiving initial funding through Y Combinator.
Under Armstrong's leadership, Coinbase has become a leading platform for trading various cryptocurrencies.
His post seeking a co-founder for Y Combinator became viral, leading to his partnership with Fred Ehrsam.

Coinbase

Founded in 2012, Coinbase provides a platform for cryptocurrency trading.
Armstrong served as the company's first CEO, guiding it through significant growth and a direct listing on Nasdaq in April 2021.
Coinbase's market capitalization reached $100 billion briefly after going public.
Despite Ehrsam's departure in 2017, he still owns 6% of Coinbase and serves on its board of directors.

Media Appearances

Armstrong appeared in the 2014 documentary 'The Rise and Rise of Bitcoin' and was featured in the 2020 book 'Kings of Crypto: One Startup's Quest to Take Cryptocurrency Out of Silicon Valley and Onto Wall Street.'
The documentary 'COIN: A Founder's Story' also focused on Armstrong and Coinbase.
He founded ResearchHub, a scientific research site, and co-founded NewLimit, a company targeting aging biology.

How long would it take you to become as rich as Brian Armstrong?

If you started with $10,000 and invested an additional $500 each month at a 44.15% CAGR, it would take you 5 years to reach Brian Armstrong's net worth of $9.90B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 51.86% compared to 19.03% for the S&P 500 benchmark.

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Brian Armstrong is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Brian Armstrong, Cryptocurrency is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey