Summary List Placement.
Crypto whiz kid Justin Sun delayed a $4.6 million charity lunch with Warren Buffett.
The Tron manager invested $10 million in GameStop and lost on a $69 million NFT.
Here are eight things to understand about the 30- year-old tech entrepreneur.
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Crypto whiz kid Justin Sun has actually shot to fame recently for holding off a $4.6 million charity lunch with Warren Buffett, investing $10 million in GameStop during the purchasing craze, and losing out on a $69 million NFT during a Christie’s auction.
Sun is in charge of Tron and BitTorrent, the 28 th and 63 rd biggest cryptocurrencies with a combined market capitalization of more than $5 billion.
Here are 8 things to know about the 30- year-old tech business owner: SEE ALSO: A crypto whiz kid postponed his $4.6 million lunch with Warren Buffett, sustaining reports that he’s caught in China.
A protégé of Alibaba creator Jack Ma.
Justin Sun is a protégé of Alibaba creator and executive chairman Jack Ma. Sun’s oldest photo on Instagram shows him receiving a certificate from Ma. “Influenced by the finest to shape the future for the better,” the caption reads.
Sun was the youngest member of the inaugural class at Hupan University, a Chinese business school founded by Ma in 2015, according to the South China Early Morning Post. Ma recruited 30 trainees who he thought could transform the Chinese business world. Sun composed his thesis on the blockchain market, titling it “The Birth of a Decentralized Internet,” SCMP stated. He graduated from Hupan in2018
An Ivy League graduate.
Sun finished from Peking University with a bachelor’s degree in history in 2011, according to his LinkedIn page. Peking is China’s second-best university, according to Times College’s World University Rankings. Two years later, Sun made a master’s degree in political economy from the University of Pennsylvania, among 8 prestigious United States colleges that make up the Ivy League
An entrepreneur and dealmaker.
Sun signed up with Ripple Labs as a primary representative and consultant in Greater China at the end of 2013, according to his LinkedIn page. He worked at the cryptocurrency start-up– which has actually gotten backing from Google Ventures, Andreessen Horowitz, and other blue-chip investors– for simply over two years. Sun also established Callme or Peiwo, China’s largest voice live-streaming app, in2013
In July 2017, Sun established the Tron Foundation, a blockchain business with its own cryptocurrency that is “dedicated to developing the infrastructure for a really decentralized Internet,” his LinkedIn page states. Less than a year later on, Tron obtained BitTorrent, a peer-to-peer file-sharing service, for around $126 million, according to TechCrunch. Sun currently serves as CEO of Peiwo, Tron, and BitTorrent, now known as Rainberry
A millennial influencer.
Sun has a powerful existence on social media with more than 2.2 million Twitter fans. He’s likewise posted images of himself positioning with celebs such as Los Angeles Lakers legend Kobe Bryant.
Forbes consisted of Sun in its 30 under 30 Asia list in 2017, and in its 30 under 30 China list from 2015 to 2017, Sun wrote on his LinkedIn page..
A crypto supporter.
Sun prepared to utilize his meal with Buffett to convert the infamous skeptic of bitcoin and other cryptocurrencies into a true follower. Buffett has stated Bitcoin has “no unique worth” and will eventually become worthless, and derided it as a “delusion” and “rat toxin squared.”.
Sun performed a full-court press on Buffett throughout their supper in January2020 He welcomed eToro founder and CEO Yoni Assia, Litecoin developer Charlie Lee, and other crypto supporters to dine with them. He likewise provided Buffett a smartphone packed with bitcoin and Tron, although Buffett later on said he does not own any cryptocurrencies.
A controversial figure.
After Sun revealed he was rescheduling his lunch with Buffett, Chinese news outlet Caixin reported he was being held in China over accusations of illegal fundraising, betting, money laundering, and porn activities, citing a report by the 21 st Century Organization Herald.
Sun dismissed the allegations on Weibo and said he was being treated for kidney stones. ” The prohibited network fundraising was not true,” he wrote in Mandarin, including that Tron “actively worked together” with authorities to adhere to regulative requirements. He included that Tron complied with laws and guidelines in Singapore, where it lies, and the money-laundering accusation was “not true.”.
A meme-stock fan.
Sun invested $10 million in GameStop and $1 million in each of AMC and the iShares Silver Trust during the meme-stock craze in January2021 He informed Bloomberg that the Wall Street Bets motion represented a “paradigm shift” in financing, and suggested memes are the brand-new basics for the next generation of financiers
A NFT supporter.
Sun was the runner up in the record-breaking Christie’s auction of a $69 million non-fungible token (NFT) in March2021 He attempted to bid $70 million for the digital artwork after he was outbid with 20 seconds to go, however his deal wasn’t received by Christie’s systems.