Giancarlo Devasini
Source of wealth: Cryptocurrency
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Modules
Biography
Giancarlo Devasini is the chairman, and likely the biggest shareholder, of Tether, the largest issuer of crypto stablecoins.
More than 180 billion Tether tokens have been minted. Buoyed by high rates on U.S. Treasurys, which make up most of Tether's reserves, the company reported more than $10 billion in profit in 2025.
Devasini owns an estimated 45% stake in Tether, which Forbes values by applying the average price-to-earnings multiples of a group of publicly traded mid-tier banks and asset managers.
Financial Assets
Financial assets information not available.
The Great Lie of Mega-Fortunes: The Case of Giancarlo Devasini
Billionaires are often presented under the romantic myth of the 'self-made person': a narrative designed to justify opulence as the natural reward for hard work, effort, or ingenuity. However, when confronting such extreme volumes of wealth with macroeconomic reality, the meritocracy narrative completely breaks down. No individual can legitimately generate through personal effort a fortune equivalent to millions of times the average working-class salary. Capital at the top does not grow because of exceptional talent; it expands through an implacable dynamic where accumulated money works exponentially faster than people, devouring the wealth generated by productive labor.
The immense fortune of Giancarlo Devasini, linked to Finance & Investments and 'Cryptocurrency', has not been built in a free-market vacuum, but through rent-seeking, the use of exclusive elite influence, the consolidation of monopoly positions, or inherited wealth. Far from taking real private risks, billionaire empires structurally depend on state support through direct subsidies, infrastructure use, exploitation of R&D, public contracts, and offshore tax engineering. While this wealth is equivalent to the physical weight of 616 tons of pure gold, the rest of the planet suffers from an artificial scarcity of basic resources. The fact that this wealth is enough to fully fund the public health system of DR Congo, a country with more than 105800000 million inhabitants for 40.2 years, proves that unlimited accumulation is not an entrepreneurial achievement, but the hijacking of democratic sovereignty.