Imagine this: a single company’s valuation could soon reshape the global billionaire rankings. If one financial firm hits a staggering $500 billion market value, its key players are set to join the ranks of the ultra-rich. This isn’t about traditional finance giants; it’s about Tether, a powerhouse in the world of cryptocurrencies.
Sources close to the matter tell Bloomberg that Tether Holdings, known for its USDT stablecoin, is talking about selling new shares. This move could bring in an extra $15 billion to $20 billion, pushing the company’s value to that massive $500 billion mark.
Should this deal go through, Giancarlo Devasini, Tether’s chief financial officer and main shareholder, would see his wealth explode. His personal fortune could swell by about $224 billion. This incredible jump would place the 61-year-old Italian entrepreneur as the world’s fifth-richest person. He would even pass Warren Buffett, the famed head of Berkshire Hathaway, on the wealth list.
The potential $500 billion valuation would put Tether in the same league as other huge private tech firms. Think OpenAI or SpaceX. This shows just how much influence Tether now has in the digital money system.
Devasini has been central to Tether’s rise. Its stablecoin, USDT, leads the crypto market with a value over $170 billion. He first trained as a doctor in Italy. Later, he invested in the Bitfinex exchange, drawn by cryptocurrencies. He eventually became its de facto leader. Forbes estimates his current wealth at roughly $22.4 billion, mostly from his 47% share in Tether.
Tether’s Leaders Set for Billionaire Club
Devasini wouldn’t be the only one making headlines. Calculations suggest that CEO Paolo Ardoino and his predecessor, Jean-Louis van der Velde, would each see their fortunes hit about $95 billion. That would put them squarely among the top 20 wealthiest people globally. Another shareholder, Stuart Hoegner, could also become incredibly rich, with his wealth potentially topping $60 billion.
🚨💰 Bloomberg: Tether valued at USD 500 Billion
CFO Giancarlo Devasini +USD 224 Billion
CEO Paolo Ardoino and exCEO ~USD 95 Billion
Tether seeks to raise USD 15 to 20 Billion; Q2 profit USD 4.9 Billion https://t.co/YW9rMGxxZj pic.twitter.com/CucxAkKAcq
— Diario฿itcoin (@Blaze Trends)
Investors are clearly interested in Tether’s growth. The company gets high returns from its asset reserves. These include Bitcoin and gold. Tether also invests in many other fields, from artificial intelligence and biotechnology to renewable energy, crypto mining, and communication. The company posted a record $4.9 billion profit in the second quarter of 2025, showing its broad investment approach.
Despite its success, Tether has faced criticism. Some worry about how transparent it is in backing USDT. There have also been past controversies, such as using its reserves to help the Bitfinex platform in 2018. Devasini also holds a leadership role there.
This potential financial milestone shows how much cryptocurrencies can change wealth accumulation. Even discreet figures like Devasini, who works from offices in London and the French Riviera, are seeing their fortunes transform.