Justin Sun in 2022: how rich is the founder of TRON?

Justin Sun’s estimated fortune is $285 million. This figure takes into account the cryptocurrency assets held in one of his publicly known cryptocurrency wallets. However, Justin Sun likely has a much higher fotune as this figure does not take into account private investments or assets held in private accounts.

Who is Justin Sun?

Justin Sun was born on July 30, 1990 in Qinghai Province, China, Sun is the founder of TRON and one of the most prolific crypto-currency businessmen in the world. After graduating from Peking University with a Bachelor’s degree in History and a Master’s degree in East Asian Studies from the University of Pennsylvania, Sun was selected as CNTV’s Most Outstanding New Entrepreneur in 2015. In the same year, through 2017, Sun was featured on Forbes China’s elite list. 30 Under 30.

In 2017, Sun founded a DAO blockchain ecosystem designed to compete with Ethereum for supremacy in the DeFi and dApp space, known as the TRON network. Subsequently, he has founded multiple other companies and played a major role as an investor in major companies such as BitTorrent, Poloniex and Huobi.

With over 3.4 million followers on Twitter, Sun is one of the most well-known and influential figures in crypto. He regularly engages with his fans on social networks and doesn’t hesitate to share his personal opinions with the wider community.

A tendency to create controversy

In 2019, Justin Sun shocked everyone when he offered $4.57 million for a private launch with legendary American investor Warren Buffett, only to cancel it.

In 2022 an article published by The Verge, called The many escapes of Justin Sun describes Justin Sun as bold, confident, and able to walk a fine line between smart investments and rash decisions. Here is an excerpt from the article:

“Bold and outspoken, TRON founder Justin Sun has always been a controversial figure in crypto.”

What will Justin Sun’s fortune be in 2022? Examining the TRON founder’s crypto-currency portfolio.

Justin Sun has a publicly known crypto-currency wallet address that stores over $285,000,000 in crypto assets as of December 2022. Over $238,000,000 of his crypto assets are spread across a number of DeFi protocols, including Curve, Convex, and PankcakeSwap, while $47,000,000 is stored in cash assets, primarily USDD and USDT.

It’s worth noting that Justin Sun’s fortune is probably much higher than the contents of a single publicly known crypto-currency wallet. Over the years, several online publications, such as Dreshare and even The Verge, have referred to Sun as a billionaire.

Justin Sun’s crypto-currency ventures

Justin Sun has founded and acquired several blockchain companies during his time in the crypto-currency sphere – here are a few:

TRON

Founded in 2017, TRON is a decentralized, open-source blockchain using delegated proof-of-stake (DPoS) to achieve consensus on the state of the ledger. The network’s native coin, TRX, has a market capitalization of over $5 billion. With fast and inexpensive transactions, the TRON chain is one of the most popular ways to transfer Tether, the world’s largest stablecoin, accounting for more than half of the total USDT volume.

BitTorrent

Started as a popular peer-to-peer (P2P) file sharing service, BitTorrent was acquired by the founder of TRON in 2018 for $140 million. The P2P protocol was then launched on the blockchain as BitTorrent File System (BTFS), along with a TRC20-based BTT token.

USDD

Earlier this year, Sun announced the launch of USDD, an algorithmic stablecoin on the TRON blockchain. At the time, Sun stated that the launch of its stablecoin represented “the third era of stablecoins“. The USDD stablecoin failed to gain a large market share, probably due to investors’ hesitancy to invest in a new algorithmic stablecoin after Terra’s USTC collapse.

Huobi

In October, investment firm About Capital, in which Sun was the lead investor, acquired a $1 billion stake in Huobi. Following the acquisition, Justin Sun became the exchange’s advisor and announced plans to revitalize the platform by strengthening its HT token native digital assets. Sun has previously invested in the Poloniex exchange, but the exact amount of his investment remained unknown.

Dominica Coin

In November, Sun and Huobi announced that they would jointly launch the Dominica Coin (DMC), the world’s first domestic token. This announcement followed an earlier report that the TRON network had been chosen as the “National blockchain infrastructure of the Commonwealth of Dominica.“DMC will reportedly allow citizens of Dominica to apply for loans, register businesses, open and close bank accounts, and build in the metaverse.

Final thoughts

Justin Sun is undoubtedly one of the most interesting figures in the crypto space. After launching the TRON Foundation in 2017, Sun has made many headlines, both for his crypto ventures and for his controversial actions and statements – the latest being his appointment as Grenada’s permanent representative to the World Trade Organization. Love him or hate him, Justin Sun is among the wealthiest individuals in the industry, thanks to his numerous investments and diversified crypto portfolio.