Slashdot Mirror

← Back to Stories (view on slashdot.org)

The Winklevoss Twins Are Now Bitcoin Billionaires (theverge.com)

Posted by msmash on from the change-of-fortune dept.

The twin brothers who gained notoriety for suing Mark Zuckerberg over the claim that they started Facebook have done remarkably well in the wake of Bitcoin's record gains. From a report: Cameron and Tyler Winklevoss won $65 million from the Facebook lawsuit, and invested $11 million of their payout into Bitcoin in 2013, amassing one of the largest portfolios of Bitcoin in the world -- 1 percent of the entire currency's dollar value equivalent, said the twins at the time. Their slice of the Bitcoin pie is now worth over $1 billion after Bitcoin surged past $10,000 last week to now trade at $11,100, according to CoinDesk. The cryptocurrency has surged over 10,000 percent since the Winklevoss' investment, when one coin traded at around $120.

3 of 155 comments (clear)

  1. Reality of All Billionaires by sycodon · · Score: 5, Informative

    This is the same reality faced by Bill Gates, Bezos, Musk, Buffet, etc.

    Billionaires don't have a billion dollars. In fact their actual income is quite modest compared to what you think when you say, "Billionaire". Wealth doesn't mean cash in your bank account.

    To be sure, they have NO financial hardship, even if they spend like idiots. But they don't "have" a billion dollars in cash.

    --
    When Fascism comes to America, it will call itself Anti-Fascism, and tell you to give up your guns.
    1. Re:Reality of All Billionaires by mindstormpt · · Score: 3, Informative

      Slashdot: Jeff Bezos Just Sold $1.1 Billion in Amazon Stock

      You're funny.

    2. Re:Reality of All Billionaires by Comrade+Ogilvy · · Score: 1, Informative

      And yet people keep accusing them of not paying their "fair share" when they are already paying their share along with a lot of other peoples' share.

      Depends on what you mean by "fair share". The most common argument, endorsed by some people of significant sophistication and perspective like Warren Buffet, is that most very wealthy pay a lesser percentage of their income in taxes than the typical middle class taxpayer.