Michael Saylor, co-founder and executive chairman of Strategy has secured a spot on the Bloomberg’s Billionaire 500 Index.
The list includes the world’s 500 richest people and Saylor currently ranks at 491st on the index with an estimated net worth of $7.37 billion.
Saylor has seen his net worth increase by nearly $1 billion this year, which is a 15.8% rise.
During the same period, Strategy’s stock price has climbed by almost 12%, closing at $335.87 on Friday.
About $6.72 billion of Saylor’s wealth is tied to his Strategy shares, while $650 million is held in cash.
Strategy’s Bitcoin Strategy Boosts Growth
Strategy, a company known for its aggressive Bitcoin investments, currently holds 659,739 Bitcoin, valued at approximately $72.9 billion.
This accounts for about 3.42% of Bitcoin’s total circulating supply.
Despite the company’s large Bitcoin purchases, Strategy’s corporate treasurer, Shirish Jajodia, noted that their buying does not significantly affect Bitcoin’s market price.
While Strategy’s stock rose 2.53% on Friday, it has dropped 12.4% over the past 30 days.
The company was also excluded from the S&P 500 in August, despite meeting all requirements and being part of the Nasdaq 100.
Strategy recently added $449 million worth of Bitcoin to its holdings in August, bringing its total for the month to 7,700 BTC.
Saylor Joins Other Crypto Billionaires on the Billionaire Index
Saylor is not the only cryptocurrency figure on the Bloomberg Billionaire Index.
Coinbase CEO Brian Armstrong is at the 234th spot with a net worth of $12.8 billion.
Meanwhile, Binance founder Changpeng “CZ” Zhao holds the 40th spot with $44.5 billion.
Former FTX CEO Sam Bankman-Fried was once on the list before his company’s collapse in November 2022.
When all is said and done, Michael Saylor’s Strategy continues to accumulate Bitcoin and remains committed to its Bitcoin-focused strategy.
