Tether Secondary Market Valuation Reaches $350–375 Billion; Core Shareholders' Stakes Estimated in Tens of Billions

Stablecoin issuer Tether has been valued at about $350 billion to $375 billion in recent secondary market transactions, while Forbes reported on Feb. 27 a separate valuation estimate of roughly $200 billion based on market interviews. Under the $200 billion valuation, Forbes calculates CFO Giancarlo Devasini, who holds around 44–45% of Tether, would have a net worth of about $89 billion, while CEO Paolo Ardoino and former CEO JeanLouis van der Velde would each hold roughly $38 billion, and General Counsel Stuart Hoegner, with about 12% of shares, would have an estimated $25 billion. At a $350 billion valuation, Devasini's stake would exceed $156 billion, surpassing Warren Buffett's current net worth of approximately $147.8 billion. Tether generated an unaudited profit of roughly $10 billion last year, supports a USDT market cap of about $184 billion, keeps over 80% of reserves in U.S. Treasuries and short-term securities, holds around $23 billion in gold and $6.4 billion in Bitcoin, maintains a venture portfolio of more than 120 companies valued above $10 billion, and is expanding into the U.S. market with the USAT stablecoin and by appointing former White House crypto advisor Bo Hines as CEO of its U.S. operations.