Thursday, December 8, 2022
Home Net Worth Justin Sun Net Worth: How Founder of TRON Amassed $200 Million Fortune?

Justin Sun Net Worth: How Founder of TRON Amassed $200 Million Fortune?

Chinese entrepreneur Justin Sun. He created the TRON blockchain network and is renowned as the “Chinese Whiz Kid.” Justin Sun is also the chief executive officer of BitTorrent, Inc., a firm that provides a peer-to-peer file-sharing service. Current company name: Rainberry, Inc.

Early Life

Justin Sun‘s date of birth is listed as July 30, 1990, which places his birthplace as Xining, Qinghai, China. His early life and family history are little documented. In 2007, he relocated to Beijing so he could enroll at Peking University. After four long years, he finally earned his degree in the liberal arts and history.

Justin Sun Net Worth

In order to further his study, Sun moved to the United States. He earned his master’s degree in East Asia Studies from the University of Pennsylvania. Jack Ma, another successful businessman, personally invited him to enroll at Hupan University. In 2018, Justin received his diploma.

Justin Sun’s Net Worth

Full Name Justin Sun
Birth Date July 30, 1990
Birth Place Xining, Qinghai, China
Profession Entrepreneur
Relationship Status Single
Net Worth $200 million

According to projections made in 2022, Justin Sun will have amassed somewhere in the neighborhood of $200 million in personal wealth. From his massive investment in the bitcoin market, he has made a substantial profit.Justin Sun Net Worth

Reportedly, Justin has purchased 4,145 BTC for $36,868 and ETH for $2,509 in the past 24 hours. He lost about $287 million on the two deals, or about $152 million in BTC and about $135 million in ETH. Presently, one Bitcoin can be purchased for $38,149.50, while one Ether can be purchased for $2578.29.

Read More: What is Natascha McElhone’s Net Worth? Why Did Natascha McElhone Leave the “Designated Survivor” Series?

Justin Sun’s Investments

The vast majority of Justin Sun’s fortune is invested in stablecoins, with the rest spread out across the most prominent Layer 1 digital assets, including Ethereum, Bitcoin, Binance, and Tron.

Justin Sun Net WorthHis public wallet information, which can be seen in the previous section, reveals the composition of his financial portfolio. As of late, Justin has also acquired the Poloniex Exchange and relocated its operations to the Seychelles Islands.

This, according to a recent story by the Verge, was done so that he could develop a platform where he could quickly transfer money and withdraw it in a fully anonymous manner.

Justin Sun’s Crypto Wallet

Justin Sun Net Worth

When Justin Sun transfers funds across various Defi protocols and apps, these transactions can be traced back to his public bitcoin wallet. It’s now farming apps on Ethereum, Binance Smart Chain, Tron, Polygon, Avalanche, and Fantom with a total value of approximately $1.1 billion.

Further Ventures

After creating TRON, Justin bought BitTorrent for $140 million a year later. It has been announced that BitTorrent has changed its name to Rainberry, Inc. He made waves in 2019 for shelling out $4.6 million to dine with legendary investor Warren Buffet.

This exemplifies his boldness in spending cash to advertise his cryptocurrency initiatives in the mainstream media. The web magnate invested heavily in NFTs in 2021. An NFT investment fund he created allowed him to afford the $22 million worth of digital Picassos and Warhols.

He was unable to outbid the competition and purchase the Bepple NFT, which had been auctioned off by Christie’s for a then-record $69 million. In the fall of the same year, he left his position as CEO of TRON to take up the post of Grenada’s ambassador to the World Trade Organization. He also became one of the first paying passengers to ride Jeff Bezos’ Blue Origin rocket to space after winning the New Shepard auction.

Read More: How Much is Lainey Wilson Worth? When Did Lainey Wilson Begin Her Country Music Career?

Professional Life

The Chinese foreign policy publication Yazhou Zhoukan featured Sun on its cover in 2011. In 2014, he had a similar position at the Davos Summit for the World’s Young Leaders. In the same year, he joined Ripple Labs, a provider of cryptocurrency payment systems.

He served as Ripple Labs’ principal spokesperson and counselor as the company developed its Peiwo voice live-streaming software. Among Chinese teenagers, it quickly rose to prominence. In 2017, Justin Sun introduced the TRON platform. He used it to launch two new cryptocurrencies: Tronix (TRX) and Decentralized USD (a stablecoin) (USDD).

Justin Sun Net WorthAstonishingly, Sun had submitted a record-breaking $4.6 million bet to have lunch with Berkshire Hathaway CEO Warren Buffett in June 2019 before he abruptly canceled the appointment. Buffett’s lunch with the group finally took place in January 2020.

Sun placed the winning bid of $69,000,000 at Christie’s New York on March 11, 2021, for the Everyday: The First 5000 Days collection of Beeple non-fungible tokens (NFTs). Sun invested in Animoca in the company’s $65 million fundraising round that closed in October 2021.

At the New Shepard auction in December 2021, Sun revealed that he had won with a $28 million bid, making him the first paying passenger on a Blue Origin flight scheduled for July 2021. Due to a scheduling conflict, he was unable to participate in this mission in July 2021.

However, he secretly bought himself a New Shepard voyage (allegedly for the $28 million auction offer, which he paid to Blue Origin in 2021). He plans to pick five other people to join him on the space flight in late 2022. Justin Sun stepped down as CEO of TRON in December 2021 to take a position with the government of Grenada.

Read More: What is Alex Jones’s Net Worth? How Much Has He Made From Sandy Hook Denial?

Justin Sun Personal Life

Despite widespread speculation, Justin Sun has not yet revealed his true relationship status. Whether he is married or just dating nobody remains a mystery. There is no evidence to suggest that he is involved in a romantic relationship, thus he is treated as available.

In June 2019, Justin will have lunch with business magnate Warren Buffet, and he just bid a record $4.5 million on the privilege. However, he called off the lunch, which will now take place in January 2020. He gave Buffet a smartphone full of bitcoin and Tron.

Justin Sun Net Worth

As it turned out, he had to cancel the lunch after being accused of unlawful fundraising, money laundering, gambling, and pornography. Later, Sun said he canceled the event because he was going to get treatment for his kidney stones, a claim he later retracted.



Please enter your comment!
Please enter your name here

Most Popular