Strategy co-founder and executive chairman Michael Saylor has seen his net worth soar by $1 billion since the start of the year, coinciding with his debut on the Bloomberg Billionaire 500 Index.
Saylor ranks 491st on the Bloomberg Billionaire Index with an estimated net worth of $7.37 billion, up 15.80% since Jan. 1. Over the same period, shares of his company Strategy (MSTR) have gained nearly 12%, as per Google Finance.
Strategy’s stock price closed the trading day on Friday at $335.87. Source: Google Finance
According to the Index, which tracks the world’s richest 500 people based on their net worth, approximately $650 million of Saylor’s fortune is in cash, while the remaining $6.72 billion is tied up in Strategy equity.
Saylor joins other crypto billionaires on the list
Saylor joins other crypto billionaires on Bloomberg’s list, including Coinbase CEO Brian Armstrong, who is ranked 234th with a net worth of $12.8 billion, and Binance founder Changpeng “CZ” Zhao, holding the 40th spot with $44.5 billion.
Former FTX CEO Sam Bankman-Fried was also on the list before the crypto exchange collapsed in November 2022.
Strategy is best known for its aggressive Bitcoin (BTC) accumulation strategy. The firm currently holds approximately 659,739 BTC, worth $72.9 billion at the time of publication, or about 3.42% of Bitcoin’s circulating supply, according to StrategyTracker.
Strategy holds 659,738.78 Bitcoin at the time of publication. Source: Strategy Tracker
However, Strategy insists its significant Bitcoin buying doesn’t sway the market. “The way we buy Bitcoin is we do not move the price of the Bitcoin,” Strategy’s corporate treasurer and head of investor relations, Shirish Jajodia, recently said.
Strategy’s stock price is down over the past 30 days
On Friday, Strategy stock closed the day 2.53% higher, though it remains down 12.4% over the past 30 days.
Related: Strategy adds $449M in Bitcoin, raising August total to 7.7K BTC
It comes as Strategy was left out of the S&P 500 in August — a disappointment for some market participants who had expected the Bitcoin-accumulation company to make the cut.
On Friday, Cointelegraph reported that despite the company meeting all the requirements and already being included in the Nasdaq 100, it may still be denied inclusion if the committee tasked with evaluating companies rules against adding it after taking a “holistic” view of the prospective candidate.
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