A $500 Billion Tether Would Make Chairman Richer Than Buffett

A deal under discussion that would make stablecoin-issuer Tether Holdings one of the world’s most valuable private companies would also vault its owners’ wealth into the stratosphere.

The company’s chairman, Giancarlo Devasini, would be worth almost $224 billion if Tether successfully reaches a half-trillion-dollar valuation, according to calculations by the Bloomberg Billionaires Index. That would make him the world’s fifth-richest person, behind only Elon Musk, Larry Ellison, Mark Zuckerberg and Jeff Bezos, and several spots ahead of Berkshire Hathaway Inc.’s Warren Buffett.

Paolo Ardoino

Photographer: Michael Nagle/Bloomberg

Chief Executive Officer Paolo Ardoinoand his predecessor, Jean-Louis van der ...