Justin Sun Net Worth: Smart But Controversial

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Justin Sun Net Worth

Justin Sun is a Chinese tech entrepreneur best known for founding TRON, a blockchain-based decentralized platform with a focus on entertainment. He is also the CEO of BitTorrent, a legitimate file transfer protocol he acquired in 2018.

Sun is also a popular figure on social media and is rarely hesitant to share his personal views with his followers.

In 2024, Sun’s net worth is estimated to be more than $1.10 billion.

Facts about Justin Sun

Name Justin Sun
Birth date July 30, 1990
Net Worth $1.10 Billion*
Birthplace Qinghai, China
Education Peking University and University of Pennsylvania
Known for Founder of TRON
Marital status No public information about whether he is married or in a relationship
*as of May 18, 2024

 

Justin Sun net worth and source of wealth

Sun’s net worth is difficult to estimate. While he is undoubtedly one of the richest people in the crypto world, little information is available about his private accounts and undisclosed crypto holdings.

However, we know that most of Sun’s wealth is from owning between 10 and 20% of the token supply of $TRX, which has a market cap of more than $10 billion.

Based on this, Sun’s net worth is estimated to be more than $1.10 billion. His actual net worth, however, is likely to be much higher, as it would include his private investments or assets held in private accounts.

Sun’s other ventures and investments include:

  • Equity stakes in BitTorrent and Poloniex (the companies he acquired after founding TRON)
  • Participation in a $65 million funding round for Animoca Brands one of the top NFT companies in the world in 2021
  • And advisory role at HTX, another crypto exchange
  • Significant holdings and involvement in the launch of stablecoin $USDD
  • Involvement with the recent launch of Dominica Coin ($DMC) – the first-ever national token to be used as legal tender
  • NFT holdings including 1 CryptoPunk, 36 Sandbox NFTs, a Bored Ape Yacht Club TRON NFT, and a TRON Tpunk NFT
  • Artwork investments including Le Nez by Alberto Giacometti (worth $78.4 million), Picasso’s Femme nue couchée au collier for (worth $20 million) and Andy Warhol’s Three Self-Portraits for (worth $1.5 million)
  • Around $10 million investment in GameStop and $2 million in AMC during the meme stock frenzy of 2021.

Early life, education and career

Born on July 30, 1990, in the Qinghai province of China, Sun showed academic prowess from a young age. He earned a Bachelor of Arts in History from Peking University in 2011, and a Master’s degree in East Asia Studies from the University of Pennsylvania in 2013.

Sun reportedly first encountered the cryptocurrency phenomenon while studying at the University of Pennsylvania, which led to his first Bitcoin investment.

Following his studies, Sun went to Hupan University in China to enroll in the entrepreneurship program created by Jack Ma, founder of e-commerce giant Alibaba. During the program, Sun completed a thesis titled The Birth of a Decentralized Internet, showing his early interest in crypto.

In 2013, having completed the entrepreneurship program, Sun joined Blockchain technology firm Ripple as the company’s first Chinese employee. However, he left the role the following year to launch Peiwo – a voice-based social networking app.

Peiwo soon became a hit, and so did Sun. In 2015, he was named the most noteworthy new entrepreneur for the year by CNTV, while Forbes added him to their 30 Under 30 Asia list in 2015, 2016, and 2017.

TRON – Sun’s most profitable venture so far

In 2017, Sun founded TRON, a contract platform that decentralizes finance and software across different fields. The same year, he launched the $TRX token (TRON’s native token).

In September 2017, just days before the Chinese government banned Initial coin offerings (ICOs), Sun held an ICO for $TRX, raising around $70 million. After the ban, Sun relocated to the United States.

In the same year, Sun also started the TRON Foundation with the objective of maintaining and developing the TRON network. This foundation later evolved into the TRON DAO (decentralized autonomous organization).

The TRON network and $TRX have been a major success since. According to data from AMBCrypto, $ TRX has the most daily active users with 1.6 million, compared to 968,000 and 617,000 for BNB Chain and Bitcoin, respectively.

Justin Sun and controversy – never far apart

Despite being considered one of the smartest investors in the crypto space, Sun’s journey to fame and fortune hasn’t been without controversy. Here are some noteworthy examples:

  • In January 2018, Sun faced accusations of plagiarism, namely that the content of his whitepaper mirrored that of IPFS and Filecoin without proper citation
  • In 2019, Sun’s record $4.57 million bid to have lunch with Warren Buffett, one of the greatest investors of all time, also stirred controversy. The lunch, to which Sun also invited President Donald Trump, coincided with the US-China trade war, which provoked opposition from Chinese authorities. Sun eventually canceled the event citing health issues after Chinese authorities reportedly raided TRON’s Beijing office and detained six employees. After the dust settled, Sun finally had a dinner with Buffett in February 2020
  • In December 2021, Sun was appointed the ambassador and Permanent Representative to the WTO (World Trade Organization) for the Caribbean nation of Grenada. This new position came with certain perks, such as immunity from criminal prosecution worldwide. Sun reportedly lost his new position after a different party won the Grenadian elections in June 2022
  • In 2023, TRON faced an SEC lawsuit alleging manipulative trading practices and unregistered securities. Many see a connection between the timing of Sun losing Grenada’s WTO ambassador position and the SEC lawsuit.

Despite these controversies, Sun and TRON have managed to grow their fan and user base, respectively. Sun has 3.5 million followers on X (formerly Twitter), while TRON’s share price has increased from around $0.020 in 2020 to over $0.12.

FAQs

How did Justin Sun make his money?

Sun generated most of his wealth from TRON, the crypto company he founded, as well as from his investments in other crypto companies, including BitTorrent, Poloniex and HTX (formerly Huobi).

Sun’s crypto holdings – TRX, BTC, ETH, BTT, USDJ and USDD – are also a significant source of his wealth.

How much Bitcoin does Justin Sun have?

Sun, in a post on X (formerly Twitter) in February 2024, revealed his Bitcoin holding. According to the post, he holds more than 28,614 Bitcoins worth about $1.6 billion.

Is TRON coin safe?

Yes, TRON is considered to be a secure network with high availability. It is a decentralized operating system similar to Ethereum. Still, it is important for investors to know that no system is completely immune to risks.

So, it is important for investors to stay informed about best security practices and follow official guidelines for a safer experience within the TRON.

This article originally appeared on ValueWalk and was syndicated by MediaFeed.

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