Ripple's executive chairman and co-founder, Chris Larsen, has lost $44 billion from his holdings following the crash of XRP over the past two days. This week, Ripple has plummeted 74% from a peak value of $3.84, which it reached on the 4th of January.

However, even with XRP down in value to just $1 as of Wednesday 17th January, Larsen is still a wealthy man, with holdings in XRP which are now estimated to be worth approximately $15.8 billion, based on the latest figures from CNBC.

Out of the 100 billion XRP coins on the market, Ripple currently owns 61.3 billion. At Ripple's highest point, earlier this January, Larsen was estimated to be worth approximately $59.9 billion, making him richer than the founders of Google, who currently sit on Forbe's Richest List, giving him the title of one the five richest people in America.

All of the major cryptocurrencies, including ripple, bitcoin and ethereum, have seen their market value's nose dive over the past week, despite highs in late December and early January. According to figures from CoinDesk, Ethereum had dropped a sizeable 18%, tumbling down to $865. In comparison to Ripple's and Ethereum's drops, Bitcoin fell to under $10,000, a low not seen since late November.

The Ripple founder and his representatives are yet to comment on the latest developments.