Fred Ehrsam's net worth is estimated to be approximately $656 million.
Overview
Fred Ehrsam's net worth stats
| Net worth: | $656 million |
|---|---|
| Source of wealth: | Coinbase |
| Date of birth: | May 10, 1988 |
| Place of birth: | Boston, Massachusetts |
Early life
Fred Ehrsam was born in Boston on May 10, 1988. His family moved to Concord, Massachusetts, where he grew up. In high school, Ehrsam became a professional video game player. He was very keen on World of Warcraft, discovering digital currencies for the first time.
Education
Fred Ehrsam went to Concord-Carlisle High School, finishing in 2006. He went on to Duke University, graduating with a distinction in computer science in 2010.
Family life
Fred Ehrsam has never married. It is rumored that he has a girlfriend. However, he keeps his personal life under wraps, so her identity remains unknown.
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How did Fred Ehrsam build his net worth?
Fred has known that he wanted to have a career in finance ever since he was a college student. After obtaining his degree from Duke, he went to work at Goldman Sachs as an exchange trader. During his free time, Ehrsam researched various finance-related trends, which is how he learned about Bitcoin and cryptocurrency.
He started trading in his spare time and, along with his friend Brian Armstrong who he met on a crypto discussion forum, decided to launch a cryptocurrency exchange called Coinbase in 2012. They wanted to create a place where those interested in crypto could trade Bitcoin and other emerging altcoins.
Fred was the first president of Coinbase. Later he convinced Duke University to invest in his venture. He was able to generate a hundredfold return on their investment. He stayed on at Coinbase until 2017 when he announced his departure. He remained on the board and continues to hold shares in the company. He was on the auditing committee before the company went public in 2021.
After Coinbase, Ehrsam co-founded Paradigm, an investment firm created to invest in companies in the growing crypto space. The company made 28 investments in the field by the end of 2020. In 2021, Paradigm raised $2.5 billion in funds for investment.
How has Fred Ehrsam spent his wealth?
Fred Ehrsam is very private, so there is very little information on his personal life. However, word has it that he is keen on a $66 million penthouse in New York City's ultra-prestigious Billionaire's Row.
In May 2022, as tech shares dipped and crypto was deep in bear market conditions, Ehrsam used the opportunity to extend his ownership of Coinbase, buying more than $75 million worth of Coinbase stock.
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FAQs
How rich is Fred Ehrsam?
Fred Ehrsam's net wealth is around $656 million.
Is Fred Ehrsam a billionaire?
No. Fred Ehrsam is not a billionaire, but he is a multi-millionnaire.
Image: Wikimedia
