Tether's valuation could make its chairman the world's richest person

On September 25th, Bloomberg reported that a proposed deal could propel stablecoin issuer Tether Holdings into the ranks of the world's most valuable private companies.

If the deal goes through, the company's valuation could reach $500 billion, solidifying Tether's central position in the cryptocurrency space and potentially placing it on par with private giants like SpaceX and ByteDance. With this valuation prospect, Tether Chairman Giancarlo Devasini's personal wealth is expected to increase significantly.

According to the Bloomberg Billionaires Index, Devasini's net worth could soar to $224 billion, making him the fifth-richest person in the world, behind Tesla CEO Elon Musk, Oracle founder Larry Ellison, Meta CEO Mark Zuckerberg, and Amazon founder Jeff Bezos.

His wealth would also significantly surpass that of investing legend and Berkshire Hathaway Chairman Warren Buffett, highlighting the cryptocurrency industry's growing influence on the global wealth landscape.

If this transaction is finally completed, it will not only rewrite Tether's corporate development trajectory, but may also become an important symbol of the cryptocurrency's transition from the fringe to the mainstream financial system.