{"id":427903,"date":"2023-08-12T21:05:04","date_gmt":"2023-08-12T21:05:04","guid":{"rendered":"https:\/\/insidebitcoins.com\/?page_id=427903"},"modified":"2025-03-17T15:00:31","modified_gmt":"2025-03-17T15:00:31","slug":"do-kwon-net-worth","status":"publish","type":"page","link":"https:\/\/insidebitcoins.com\/bitcoin-investors\/do-kwon-net-worth","title":{"rendered":"Do Kwon Net Worth: Is He Still Rich After the Terra Crash?"},"content":{"rendered":"

On this Page:<\/h2>
Contents [show<\/span>]<\/div><\/div>
    <\/ul> <\/div><\/div><\/div>\n

    Do Kwon, the infamous founder of Terra Luna ($LUNA) and $UST, is remarkably wealthy, despite the implosion of his latest and largest venture. Do Kwon\u2019s current net worth was estimated to be between $135 million to $166 million as of May 2024, based solely on his Bitcoin holdings.<\/span><\/p>\n

    The former Stanford University graduate enjoyed an outstanding rise in the crypto space following the initial success of Terraform Labs and its league of projects, which included Mirror, UST, and LUNA. These projects ballooned his net worth to an estimated $3 billion prior to the devastating crash of the Terra ecosystem in May 2022.<\/span><\/p>\n

    Barely a month later, Terra Luna imploded in Kwon’s face, wiping out 99.9% of its value. The crisis left investors in agony, attracting interventions from authorities across the globe. After being caught using a fake passport in Montenegro, Kwon served a short jail sentence before being extradited to the US. He is currently facing fraud charges in the US, and further criminal charges await him in South Korea and Singapore.\u00a0<\/span><\/p>\n

    \"\"
    Do Kwon | Source: Wikimedia Commons<\/figcaption><\/figure>\n

    Breaking Down Do Kwon\u2019s Net Worth<\/span><\/h2>\n
    \n\n\n\n\n\n\n\n\n
    Asset or Income Source<\/strong><\/th>\nContribution to Net Worth<\/strong><\/th>\n<\/tr>\n<\/thead>\n
    Previous stakes & salaries<\/td>\nUndisclosed<\/td>\n<\/tr>\n
    Terraform Labs stake & earnings<\/td>\nUndisclosed<\/td>\n<\/tr>\n
    Bitcoin holdings<\/td>\n5,292+ BTC<\/td>\n<\/tr>\n
    Total Net Worth<\/td>\n$135-166 million<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

    Do Kwon’s Early Life<\/span><\/h2>\n

    Kwon Do-Hyung was born on September 6, 1991, in Seoul, South Korea. He grew up in the country and attended Daewon Foreign Language High School in Seoul. He eventually went to Stanford University, where he earned a B.S. in computer science in 2015. Upon his graduation, he worked briefly at Apple and Microsoft.\u00a0<\/span><\/p>\n

    Later, Kwon relocated to South Korea and founded a startup known as Anyfi in January 2016, serving as its CEO. Anyfi is a communications platform that leverages mesh network technology. It received $1 million in investment grants at that time, $600,000 of which came from the South Korean Ministry of SMEs and Startups. This would later prove controversial as critics discovered that a member of the ministry was the parent of one of the firm\u2019s founders, constituting a major conflict of interest.<\/span><\/p>\n

    In 2017, the cryptocurrency market experienced a massive boom. Kwon was swept up by the hype and so he pivoted to crypto and focused on writing white paper for a decentralized payment system. In the white paper, Kwon extensively explained how the project would enjoy stability due to its elastic money supply.<\/span><\/p>\n

    The project quickly caught the attention of Daniel Shin, a leader in online payment systems in Korea. Before collaborating with Kwon, Shin co-founded Fast Track Asia, a startup incubator, and co-founded and managed TMON (Ticket Monster), a hit South Korean ecommerce platform.<\/span><\/p>\n

    Launching TerraForm Labs<\/span><\/h2>\n

    The partnership between Do Kwon and Daniel Shin led to the creation of Terraform Labs in Seoul in January 2018. The company adopted the mantra of enhancing the adoption of virtual assets and blockchain innovations. In a bid to attain that goal, the firm focused on offering services that they believed to be stable and usable.<\/span><\/p>\n

    Terraform Labs launched its first project in 2018, Chai. Chai is an ecommerce platform that handles payments for Korean consumers and retailers, powered by Terra stablecoins. The project\u2019s focus was to become a major contender to giant payment merchants like Alipay and PayPal. In 2018, Chai became an instant success, recording $32 million in investments.\u00a0<\/span><\/p>\n

    Despite being in his early twenties at that time, Chai’s success established Kwon as an admirable personality in the tech industry. He began to gain huge media attention and was featured in the 30 under 30 list in 2019. It was later discovered that Chai’s claim that it was using the blockchain to process payments was fraudulent, with the <\/span>SEC successfully filing charges<\/span><\/a> in 2024.<\/span><\/p>\n

    In April 2022, Kwon became so carried away by the early wins of his project to the extent that he named his daughter \u201cLuna\u201d after the native token of the Terra blockchain.<\/span><\/p>\n

    \n

    Baby Luna \ud83d\udc9b<\/p>\n

    My dearest creation named after my greatest invention pic.twitter.com\/clGvoPhdaF<\/a><\/p>\n

    — Do Kwon \ud83c\udf15 (@stablekwon) April 17, 2022<\/a><\/p><\/blockquote>\n