The founder of the TRON blockchain technology, Justin Sun, is known as one of the most powerful, controversial, and wealthy people in the world of cryptocurrencies.
By all accounts, the reputation is well-deserved. Justin Sun’s work with cryptocurrency made him very rich, and he saved a lot of that money in cryptocurrency. But how much does Justin Sun have now?
Who is Justin Sun?
In the worlds of Bitcoin and blockchain technology, Justin Sun is a very well-known name. For sure, Sun has made a name for himself as an entrepreneur who focuses on the new and often risky world of digital currencies.
He is likely best known for creating TRON, a blockchain-based open platform that aims to create a free, global digital content entertainment system with distributed storage technology that makes sharing digital content simple and cheap.
Justin Sun Net Worth in 2024
Based on the number that has been made public, Justin Sun’s net worth must be at least $1.43 billion, aqccording to Arkham Public. This is mostly because his on-chain cryptocurrency assets are known to everyone.
This estimate, on the other hand, is probably too low for his real net worth because it doesn’t take into account any crypto assets he may not have told anyone about or his interests outside of crypto.
How Did Justin Sun gain his wealth?
It was as a creator and investor in the cryptocurrency market that Justin Sun made most of his money. He is famous for starting TRON and being the CEO of BitTorrent, a company he bought. He is also known for buying the exchange Poloniex and serving as an advisor to HTX (formerly Huobi).
There are also ties between Sun and the TRON DeFi projects Just (JST) and Sun (SUN), and Sun may hold a lot of these. He made a lot of money by starting TRON and projects related to it, as well as by investing in BitTorrent and the two markets. For his part, he helped start the stablecoin USD, which he now owns in large amounts.
Sun is said to have learned about cryptocurrencies for the first time while he was a student at the University of Pennsylvania. This led to his first Bitcoin purchase. Sun started working in this field as the Chief Representative and Advisor for the China region at Ripple (XRP) in late 2013.
Ripple is a global payment system and one of the ten biggest tokens by market capitalization in 2024. He was their first worker in China, and he was 23 years old. Sun began his first business in the cryptocurrency world in September 2017, when he started the TRON network.
This is a smart contract tool called the TRON network. Its goal is to decentralize parts of finance and software in many areas, from digital entertainment to payments.
Sun later started the TRON Foundation and was CEO of it. For example, The Ethereum Foundation works with other decentralized networks to build and manage their networks, and the TRON Foundation does the same.
This turned into TRON DAO in the end. Sun held an ICO for TRX, TRON’s native currency, in 2017 and raised $76 million.
It wasn’t clear how much Sun got from the ICO, but 34% of the TRX tokens went to the TRON Foundation, so he probably got a lot of them. Sun paid about $140 million in August 2018 to buy the file-sharing service BitTorrent.
Then Sun released BTT, a BitTorrent coin. Holders of TRX got it for free through airdrops instead of an ICO.Sun bought the Poloniex exchange in 2019 for an unknown amount, allegedly taking a majority stake in it. In the same year, Sun won an auction for a charity dinner with Warren Buffett by bidding $4.57 million.
This shows that by 2019, Sun will have a lot of cash on hand. It was also said that Sun bought HTX (which was then called Huobi) through About Capital Management, in which Sun was one of the main owners. Sun was then made the Global Advisor for HTX.
Later, in late 2021, he quit his job as CEO of the TRON Foundation to become Grenada’s ambassador to the World Trade Organization.
If you’re interested in more updates and insights on celebrities, delve into our earlier posts where we’ve comprehensively analyzed all facets.
- Yousef Erakat FouseyTube Net Worth in 2024
- Desi Perkins Net Worth in 2024
- Marcus Butler Net Worth in 2024
Conclusion
Based on what we know about Justin Sun’s crypto holdings, we can guess that he is worth at least $1.43 billion. It’s probably more than this because it depends on how much his other assets are worth right now, like his art and NFT collections, private investments, and stock positions.
Arkham lets you keep an eye on the crypto portfolios of well-known crypto traders and entrepreneurs. It has a lot of data and analytics to help you learn more about their stocks and activity.
Be well-informed about celebrities’ net value with Wortholino.